Investment Portfolio Tips

Five years ago I would not have believed this. The biggest names in CPG are quietly taking food out of the center of the plate. Unilever is carving out an $8B ice cream portfolio to focus on beauty and wellness. Nestlé is leaning harder into health science. The categories with pricing power are not pantry staples. They are skincare, supplements, functional hydration, and performance nutrition. Why the shift is rational, not trendy: Food margins are getting squeezed. Trade down is real, private label is sharper, and price elasticity in core staples is hitting its ceiling. Health and wellness carry willingness to pay. Consumers accept a premium for outcomes, routines, and performance. They do not reward cost plus in pasta sauce. Loyalty is drifting in food. Promotions move share week to week. Self care and efficacy-led categories hold repeat. You can already see where momentum lives. L'Oréal skincare growth outpaced many classic food portfolios last year. The Coca-Cola Company is pushing deeper into functional and non-carbonated. PepsiCo’s most defensible engine is Gatorade’s ecosystem of hydration, not soda. These are not side bets. They are where pricing power and repeat accrue. What I am advising leadership teams to do now: • Reweight the portfolio. Map pricing power, repeat, and trade down risk by category. If the math says wellness and self care carry the margin story, allocate accordingly. • Build credibility before you buy it. If you are a food-first house moving into health, you need scientific muscle, regulatory fluency, and communities that care. Partnerships, acqui-hires, and advisory benches matter. • Treat personalization as a revenue lever. Recommendations, routines, and subscription logic are table stakes in self care. Own the data and make it useful. • Keep the core honest. Food will not disappear, but it must earn its space with cleaner RGM, fewer zombie SKUs, and real reasons to stick around outside of price. I am not declaring the death of food. I am pointing at where the next decade of pricing power is likely to sit. The winners will rebalance now, not after a third year of elasticities telling the same story. If you are leading a CPG portfolio, are you future proofing around outcomes and routines, or are you managing a slow decline in categories that no longer set the pace? #FMCG #CPG #ConsumerTrends #GrowthStrategy #Beauty #Wellness #RevenueShift #BrandEvolution

How to Do Financial Due Diligence Before Selecting Stocks? Stock picking isn’t just about looking at charts and following trends—it’s about understanding the financial health of a company. Before investing, a structured Financial Due Diligence (FDD) process can help you avoid bad bets and spot strong opportunities. Here’s a framework to follow: 1. Understand the Business Model & Industry - What does the company do? - Who are its competitors? - Is it in a growing or declining industry? 2. Analyze the Financial Statements - Income Statement (Profit & Loss) – Revenue growth, profitability (Gross, Operating, Net Margins), EPS trends - Balance Sheet – Debt levels, cash reserves, working capital position - Cash Flow Statement – Operating cash flow vs. net income, free cash flow trends 3. Check Key Financial Ratios - Profitability: ROE, ROA, Gross & Operating Margins - Liquidity: Current Ratio, Quick Ratio - Leverage: Debt-to-Equity, Interest Coverage - Valuation: P/E Ratio, P/B Ratio, EV/EBITDA 4. Assess Management & Governance - Background & track record of leadership - Insider buying/selling trends - Transparency in disclosures & corporate governance 5. Review Competitive Position & Moat - Does the company have a sustainable competitive advantage (brand, network effect, patents, cost advantage)? 6. Industry Trends & Macroeconomic Factors - Economic cycles, inflation, interest rates - Global supply chain, geopolitical risks - Market trends affecting revenue streams 7. Cross-Check with Analyst Reports & News - Read Equity Research Reports, Investor Presentations, Credit Reports - Stay updated on company news, regulatory changes 8. Look at Historical Performance & Future Guidance - Compare past financials vs. projections - Evaluate management’s growth expectations 9. Risk Assessment & Downside Protection - What’s the worst-case scenario? - How resilient is the business in a downturn? 10. Compare with Peers & Make an Informed Decision No company operates in isolation—compare financials and valuations with competitors before buying. Smart investing is about discipline, not hype. By doing thorough due diligence, you increase your chances of picking winners while avoiding pitfalls. What’s your go-to method for analyzing stocks? Let’s discuss.

Pick a company Read last 3 annual reports Read last 12 earnings call transcripts Find relevant information on the company Calculate key ratios for it Repeat for another company in the same sector See your understanding of the sector soar in a few weeks. Not sure how or where to start? 4 resources to help you 1) What to read in an earnings transcript  (using Eicher Motors as example) https://lnkd.in/gqaYwkNM 2) What to read in an annual report  (using Titan as example) https://lnkd.in/dtt674gu 3) Quick Financial Analysis using Screener  (using Ultratech Cement as example) https://lnkd.in/dFM9ypEa 4) Ratio Analysis: A Step by Step Guide in Excel  (Using SAIL as an example) https://lnkd.in/dd9HwiqC Subscribe to our channel for more such videos. https://lnkd.in/dR4nvGxd ------- Peeyush Chitlangia, CFA I help you build a career in Valuation and Investment Banking

The meltdown of Situational Awareness, a hedge fund run by Leo Aschenbrenner, a 25-year old wunderkind with an AI pedigree was almost as staggering as the run-up in the fund in the year before. While many have drawn lessons from the fund's collapse, I use it to talk about investment conviction, words that are used almost always in a positive way in investing circles. I look at investment conviction in a continuum (from absolute conviction to confused mush), why conviction can vary across investments and investors and what it leads to in investment actions (concentration & leverage). I end the article by talking about the three lessons I take away from Leo - that investment actions that are not in sync with investment conviction are disastrous, that momentum is a wildcard that can elevate and shred strategies and that humble money should be trusted more than smart money.

This is the most underrated way to use Claude: (and it has nothing to do with writing or coding) It's competitive intelligence. Using data that's free, public, and updated every single week. Here's my extract step by step guide: Step 1. Go to claude .ai. Step 2. Select the new Claude "Opus 4.6." Step 3. Turn on "Extended Thinking." Step 4. Pick a competitor. Go to their careers page. Step 5. Copy every open job listing into one doc. (Title. Team name. Location. Full description) Step 6. Save it as one .txt or .docx file. Step 7. Search the company at EDGAR (sec .gov) Step 8. Download its recent 10-K or 10-Q filing. (Official strategy, risks, and financials - all public.) Step 9. Upload both files to Claude Opus 4.6. Step 10. Paste this exact prompt: "You are a competitive intelligence analyst at a rival company. I've uploaded [Company]'s complete current job listings and their most recent SEC filing. Perform a strategic intelligence analysis: → Cluster these roles by what they suggest is being built. Don't use the team names they've listed. Infer the actual product initiatives from the skills, tools, and responsibilities described. → Identify capabilities or teams that appear entirely new — not mentioned anywhere in the SEC filing. These are unreleased bets. → Find roles where seniority is disproportionately high for a new team. This signals executive-level priority. → Cross-reference the SEC filing's Risk Factors and Strategy sections with hiring patterns. Where are they investing against a stated risk? Where did they flag a risk but have zero hiring to address it? → Predict 3 product launches or strategic moves this company will make in the next 6-12 months. State your confidence level and cite specific job titles and filing sections as evidence. Format this as a 1-page competitive intelligence briefing for a CMO." What you'll find: → Products that don't exist yet but will in 6 months. → Priorities that contradict what the CEO said. → Risks they told the SEC but aren't addressing. This is what consulting firms charge $200K for. It took me 10 minutes. I used the new Claude 'Opus 4.6' for a reason: ✦ It read 60 job listing & a 200-page filing together.  ✦ And connects dots across both. ✦ It is superior in thinking and context retrieval. That's why I didn't use ChatGPT for this.

I'm a CA and investment professional for 2 years. But I never knew all types of mutual funds until I sat down and did it deliberately. Most people think mutual funds = "equity fund" or "SIP." The reality is far more nuanced and knowing the difference changes how you invest. Here's the full breakdown: 1. Equity Mutual Funds Invest primarily in stocks. Avg. returns: 12–15% CAGR (long-term) Tax: 12.5% on LTCG (after 1 yr holding, above ₹1.25L); 20% STCG (under 1 yr) Risk: High Subcategories: Large cap, Mid cap, Small cap, Flexi cap, ELSS (tax-saving) 2. Debt Mutual Funds Invest in bonds, government securities, corporate debt. Avg. returns: 6–8% p.a. Tax: Taxed at slab rate (no indexation benefit post 2023) Risk: Low to Medium Good for: Capital preservation, short to medium term goals Subcategories: Corporate bond funds, Credit risk funds, Duration funds, Gilt funds (only government securities; no credit risk but sensitive to interest rate changes) 3. Hybrid Funds Mix of equity + debt in varying proportions. Avg. returns: 9–12% CAGR Tax: Depends on equity allocation (>65% equity = equity taxation) Risk: Medium Subcategories: Aggressive hybrid, Balanced advantage, Conservative hybrid, Arbitrage funds (low volatility, debt-like returns but taxed as equity due to hedged equity exposure) 4. Index Funds / ETFs Passively track an index (Nifty 50, Sensex, etc.) Avg. returns: 13–15% CAGR (Nifty 50, 10-yr) Tax: Same as equity funds Risk: Medium (market risk only, no fund manager risk) India's fastest-growing MF category right now. 5. Sectoral / Thematic Funds Concentrated bets on specific sectors (IT, pharma, infra). Avg. returns: Varies widely (can be 20%+ or negative) Tax: Equity taxation Risk: Very High Only for those who understand the sector cycle. 6. International / Global Funds Invest in overseas markets (US, China, global indices). Avg. returns: Varies by geography Tax: Debt taxation (irrespective of underlying equity) Risk: Medium-High + currency risk 7. Liquid / Overnight Funds Ultra-short-term debt instruments. Essentially a substitute for idle cash. Avg. returns: 6–7% p.a. Tax: Slab rate Risk: Very Low Better than letting money sit in a savings account. 8. ELSS (Equity Linked Savings Scheme) Equity fund with a 3-year lock-in. Only MF eligible for Section 80C deduction. Avg. returns: 12–14% CAGR Tax: ₹1.5L deduction; LTCG applies on exit Risk: High (equity) Most people only invest in 1 or 2 of these. A well-structured portfolio touches at least 3–4 categories depending on your goal, timeline, and risk appetite. Which category are you currently invested in? Drop in comments! P.S. - Save this for the next time someone asks you "which mutual fund should I invest in?"

I used to think my portfolio had to impress other designers. So I filled it with sleek mockups, polished animations, and endless case studies. It looked beautiful...But it didn’t land me clients. Why? Because clients don’t hire you for aesthetics. They hire you for outcomes. 🚫 Too many portfolios still look like it’s 2015: → Pretty mockups → Trendy layouts → 10-second Behance loops But here’s the hard truth: Clients don’t care how cool it looks. They care what it does. 💡 Ask yourself: → Does my portfolio solve real business problems? → Am I showing results or just visuals? → Is it written for clients or for other creatives? What actually works in 2025: ✅ Highlight before/after results (data if possible) ✅ Explain your thinking, not just your tools ✅ Tailor your portfolio to your ideal client, not your peers Because great design isn’t just about craft It’s about clarity, strategy, and trust. ✨ Your portfolio shouldn’t be a gallery. It should be a sales tool. One that shows the value you bring, not just the vibe. 💬 Got a portfolio tip that worked for you? Drop it in the comments, let’s help each other grow. 📌 Save this if you’re about to redesign yours. It’s not about looking good. It’s about landing the right kind of work.

How We Built Our Family Office and What We Learnt Along the Way After I joined the family business in 2017, we established our family office. What began as simple allocations soon evolved into a comprehensive investment journey spanning PE, VC, public markets, and alternatives. We’re evolving. We’re investing. We’re learning. Here are a few key takeaways that have shaped our perspective on capital, conviction, and compounding. (Part 1) 1. Always Ask: Why Is This Deal Coming to You? If a deal lands on your table and it’s not with larger funds or more established family offices, pause and ask: why? There’s often an angle, sometimes it’s a genuine fit, but often, there’s a reason it’s not elsewhere. 2. Relationships Matter More Than Firms Advisors and brokers are everywhere, but only a handful genuinely have your long-term interest at heart. Build deep, trusted relationships with a select few. The right advisor can transform your deal flow and outcomes. 3. Institutionalise Your Process Having a clear Investment Policy Statement (IPS) is a game-changer, especially as families grow and more voices join the decision-making table. We operated without one for too long, and implementing structure has brought much-needed discipline. 4. Avoid FOMO and Time-Pressured Deals If you’re being pressured to commit quickly, walk away. There are always more opportunities. As a family office, you don’t need to chase every “hot” deal, focus on what you understand deeply and be patient. 5. Be Wary of Late-Stage/Pre-IPO Rounds We’ve largely avoided pre-IPO deals, valuations are inflated, and the upside is limited. The J-curve returns are usually already captured by early investors. Tempting brands at this stage often offer familiarity, not value. Real long-term gains often lie after the listing, not before. 6. First-Time Managers We’re cautious with first-time funds, which often face operational teething issues. Unless we have deep conviction in the team, we prefer managers with a solid track record and robust systems already in place. Fees may vary slightly, but always opt for A-grade managers. 7. Cost of Returns Matter Returns only matter after fees and taxes. We actively monitor our “cost of return” across asset classes, including the amount we pay in management fees, carry, transaction costs, and taxes, relative to what we earn. Post-fee, post-tax returns are the true benchmark. This discipline keeps capital efficient and ensures we’re tracking it across asset classes and portfolio level. 8. Say No, But Keep Showing Up Discipline is everything. We track how many deals we reject; if the “no” ratio isn’t high, we’re probably not being selective enough. Saying no is a superpower in this business. But that shouldn’t stop you from meeting a lot of people. Show up. Listen. Learn. 📣 P.S. We’re hiring for a senior position at our family office. If you’re someone who wants to join and scale it with us, email me at: jai@malpani.com

Family offices are telling us something—loud and clear. According to UBS, 42% of the average family office portfolio is now allocated to alternatives. That’s more than cash, fixed income, and emerging market equities combined. What does that signal? → Yield is no longer found—it’s engineered. → Diversification now means private markets, not just 60/40. → Patience is a luxury retail investors can’t always afford—but family offices can. Breakdown within alternatives: • 22% Private equity • 11% Direct investments • 10% Real estate • 5% Hedge funds Traditional allocations still matter, but this chart makes one thing clear: institutions are betting long on illiquidity, complexity, and control. The average investor is told to keep it simple. The ultra-wealthy? They’re doubling down on bespoke and off-market.

Heads up for seed founders trying to raise Series A: it's rough out there. I'll walk through a few of the dynamics below with data from B2B SaaS companies, but I think the general points hold mostly true no matter the sector or business model. 𝗧𝗵𝗲 𝗗𝗮𝘁𝗮 • Plotted the change over time for ARR, pre-money valuation, and total rounds raised by Series A companies on Carta. Shout out to Silicon Valley Bank for the ARR data!    • All figures are median, though there are wide ranges of course. Only primary rounds, no bridges or extensions.    • Basic takeaway: ARR is up over 100% since 2021 for Series A companies, while valuation are only slightly up and total rounds down by nearly 50%. In other words, rough out there! 𝗕𝘂𝘁 𝗪𝗵𝘆? • Obviously investors have raised their expectations of what "a Series A company looks like" in terms of traction, growth, etc etc.    • Beyond that, there seems to be some trepidation on what these metrics really mean. Sure, more ARR is usually better - but does that mean the company really has product-market fit? Read Nnamdi Iregbulem on this.    • Seed valuations have risen more than Series A ones, which may be making some VCs feel like Series A is "expensive" on a relative basis. But there are also many who are now playing in seed themselves who traditionally focused on Series A.    • Perhaps some of the decline in Series A rounds is due to seed startups deciding to refrain from raising more capital beyond the first priced round. Could be a growing segment of companies through this year and 2026. Whatever the specifics, founders should be aware that the market has changed. VCs are expecting more revenue, better metrics, and stronger momentum than they ever have. Know the game you're playing 🙏 #startups #founders #SeriesA #Seed