In July 2002, I was invited to give a talk on value investing at the famous Oxford Bookstore in Mumbai. The talk was attended by about forty fund managers and analysts.
Today, I found that presentation on my computer and was reading it. I was fascinated to find how well some of the stocks that I had spoken about in 2002 have performed since then.
Gesco Corporation has gone from Rs 11 in June 2000 to Rs 204 now. Trent has gone from Rs 60 in August 2001 to Rs 875. Gujarat Mineral Development Corporation has gone from Rs 45 in January 2002 to Rs 436 now. Zodiac Clothing has gone from Rs 43 in October 2001 to Rs 535 now. Blue Star Infotech has gone from Rs 35 in August 2001 to Rs 150 now. SRF has gone from Rs 26 in July 2002 to Rs 314 now (excluding the value of shares of a company spun off from SRF). Hindustan Motors has gone from Rs 9 in July 2002 to Rs 46 now. And Himatsingka Seide has gone from Rs 97 in July 2002 to Rs 556 now. All of these stocks have outperformed the market handsomely.
The only disappointment has been Regency Ceramics which has not gone anywhere in the last four years.
All of the above stocks were identified using very simple hueristics derived from Graham’s philosophy of deep value investing.