FLAME INVESTMENT LAB

The Epicentre of Value Investing in India

Mr. Rajeev Thakkar is the Associate Director and Chief Investment Officer (CIO) of PPFAS Mutual Fund. He currently manages its flagship scheme titled “PPFAS Long Term Value Fund”. He is Chartered Accountant, Cost Accountant and CFA Charterholder.

He possess nearly two decades of experience in various segments of the capital markets such as investment banking, corporate finance, securities broking and managing clients’ investment in equities. His tenure at PPFAS Ltd. (the mutual fund sponsor) began in 2001. He was appointed Fund Manager for the flagship scheme of the Portfolio Management Service, titled “Cognito” in 2003.

He is a strong believer in the school of “value-investing” and is heavily influenced by Warrant Buffet and Charlie Munger’s approach. His keen eye for seeking out undervalued companies by employing a diligent and disciplined approach has been instrumental in the scheme’s performance ever since he assumed the mantle. He has contributed periodically to publications such as Mint and Economic Times. He has served as a speaker/panelist at events and summits organized by the FLAME Investment Lab, ICAI, Cafe Mutual, Tamil Nadu Investors Association etc.


Interviews and Articles

PPFAS Blog – Rajeev Thakkar
http://amc.ppfas.com/blog/author/rajeev/

The lifeguard portfolio manager
Rajeev Thakkar, CIO, PPFAS Mutual Fund, talks about his likes, dislikes, strategies and several other things in this freewheeling interview with Aarati Krishnan
https://www.valueresearchonline.com/story/h2_storyView.asp?str=32656

Time to look away from traditional energy companies: Rajeev Thakkar, PPFAS MF
http://economictimes.indiatimes.com/markets/expert-view/time-to-look-away-from-traditional-energy-companies-rajeev-thakkar-ppfas-mf/articleshow/53768600.cms

Rajeev Thakkar on his go-anywhere fund
now boasts of a track record of three years. The fund stands out in the sense of not having constraints by way of market cap, sector or geography.
http://amc.ppfas.com/media/interviews/rajeev-thakkar-on-his-go-anywhere-fund.php

Living in a world of negative interest rates
It is said that positive interest rates are to capitalism what heaven and hell are to religion
https://www.valueresearchonline.com/story/h2_storyView.asp?str=200274

Stoic Podcast Episode 9: Balancing Value & Quality – The Value Investor Way!
http://www.stoicinvesting.com/podcast/stoic-podcast-episode-9-balancing-value-quality-the-value-investor-way/

Interview with Safal Niveshak

Compilation of Mr Rajeev Thakkar’s Article by PPFAS
http://ppfas.com/media/rajeev/index.php

Paragbhai taught us not to get perturbed: Rajeev Thakkar
http://forbesindia.com/article/special/paragbhai-taught-us-not-to-get-perturbed-rajeev-thakkar/40387/1#ixzz4B4eS2QqW

Investing in Equity Mutual Funds – a perspective from Rajeev Thakkar of PPFAS MF
http://www.vipinkhandelwal.com/investing-equity-mutual-funds-rajeev-thakkar/#more-1388

What the public wants, the public will get
Valeant Pharmaceuticals at one time traded at a market capitalisation of $90 billion. Today, it has a market value of just over $9 billion, and is under investigation by numerous agencies.
http://www.livemint.com/Money/WgwVv9wrw7aMOEXdgDGkaM/What-the-public-wants-the-public-will-get.html

Lessons from past bank troubles
Wisely used, bank crises can give opportunities to shareholders to make good returns at the time of peak pessimism
http://www.livemint.com/Money/a56J14Rl4czbiB8eY9cTZP/Lessons-from-past-bank-troubles.html

The world’s not coming to an end
It is said that many sovereign wealth funds have been selling their investments, which is logical
http://www.livemint.com/Money/ERoqKAmlNGLZvmvWiTByoJ/The-worlds-not-coming-to-an-end.html

Lessons to learn for mutual funds from Amtek Auto default
The typical mode of selling a debt mutual fund is on the basis of past or projected returns. However, different funds carry differing risks
http://www.livemint.com/Money/hVdpxvOCsUpjPwLmBUYhNK/Lessons-to-learn-for-mutual-funds-from-Amtek-Auto-default.html

Beware, the NINJAs are coming
The appraisal process of lenders in India has been very strong historically. Most of the lending is to individual home buyers rather than to developers
http://www.livemint.com/Money/pjoQX3xtL7fMzsvgZu3pFN/Beware-the-NINJAs-are-coming.html

How price turn affects returns
Journey towards wealth creation will not be a smooth one always
http://www.livemint.com/Money/5p1LJxYecNcKNm9t6DvfnK/How-price-turn-affects-returns.html

Learning from government, and gold
When investors are not able to evaluate investments in a transparent and predictable manner, they tend to stay away
http://www.livemint.com/Money/PCE3lrp8dAvqeXEEanDx1I/Learning-from-government-and-gold.html

Diversification or concentration? Depends on defining risk
A suitable level of diversification in stock selection will keep a portfolio safe to an extent
http://www.livemint.com/Money/JhTe34BuWSkNigOHQPJzAP/Diversification-or-concentration-Depends-on-defining-risk.html

Why downside matters and some basic arithmetic
The most important thing about investment returns is that they are multiplicative and not additive
http://www.livemint.com/Money/DIyXPTM5KdaagdXJqkTbQJ/Why-downside-matters-and-some-basic-arithmetic.html

A framework to understand the e-commerce exuberance
E-commerce will succeed in some categories and is likely to fail in others
http://www.livemint.com/Money/xdTWeT17h81psqxT692c5L/A-framework-to-understand-the-ecommerce-exuberance.html

The sense and nonsense of market cap to gross domestic product ratio
Punditry of all kind has jumped on to the bandwagon and this ratio has become one of the most used and abused in the financial markets
http://www.livemint.com/Opinion/fCOIssDbBdFiuzRYJPHFBP/The-sense-and-nonsense-of-market-cap-to-gross-domestic-produ.html

Capital allocation - an ignored factor in corporate governance
It serves to put the spotlight on an often ignored area of capital allocation in the context of governance
http://www.livemint.com/Money/L44TL00anr5wwOySPlL4XM/Capital-allocationan-ignored-factor-in-corporate-governance.html

Flip side of very high profitability
How does an investor find a business with great profitability and a sustainable business model?
http://www.livemint.com/Money/LaNx756EeSbSQJFPxRaNjK/Flip-side-of-very-high-profitability.html

Investing in India and ice hockey
Investors are doing a Wayne Gretzky when it comes to India, after the big run-up in markets after Lok Sabha elections
http://www.livemint.com/Opinion/zW11YvvKNSom0E2RbYTmUI/Investing-in-India-and-Ice-hockey.html

Getting a real returns paradigm
Indian investors squirrel away money because they fear long-term inflation
http://www.livemint.com/Opinion/xLi0lanFmjhmaoI8phIVGL/Getting-a-real-returns-paradigm.html

Peak oil vs mean reversion:why trees don’t grow to the skies
There are differing views on the significance of peak oil theory
http://www.livemint.com/Money/N3hKuVpamq2A1m210v0WYO/Peak-oil-vs-mean-reversionwhy-trees-dont-grow-to-the-skies.html

Global interest rates will decide equity valuations
Companies that have hoards of cash have little to worry from interest rate increases
http://www.livemint.com/Money/9h8fq4H18lsDjJOtcFaiLK/Global-interest-rates-will-decide-equity-valuations.html

Working with what we already know
http://www.livemint.com/Opinion/noZfxSsUl3EQ5kBbCGF1ZL/Working-with-what-we-already-know.html

Pitfalls of passive equity investing
http://www.livemint.com/Opinion/3yGfkHLP3eISQ7pUrpVBbO/Pitfalls-of-passive-equity-investing.html

Getting the investment horizon right
http://www.livemint.com/Opinion/YH1NCZwmMkpSYQnCORtwVN/Getting-the-investment-horizon-right.html


Presentations


Videos

A very 'Interest'ing Topic by Rajeev Thakkar

Market Makers With Rajeev Thakkar Of PPFAS Mutual Fund

Multibagger or Falling Knife - Presentation by Rajeev Thakkar

 

PPFAS video resources:
https://www.youtube.com/user/ppfasltd/videos