Mr. Parag Parikh: A Tribute
to original value investor
India’s original value investor Mr. Parag
Parikh is no more now. He died in a car accident in Omaha, (US) on 4th May. He
was there to attend an investor meet of Warren Buffet’s company. After knowing
this news I was sad and not in the state to react. His demise is big loss to
Indian financial industry. He was only 60. Mr Parag Parikh was known as a true
value investor for his approach based on behavioural finance. He had started
broking business in 1979. His broking house was one of the first to have
releasing research report with detail. He was running the broking house and
financial advisory firm Parag Parikh Financial Advisory Services. In 2014, he
winded down the broking business and switched to asset management business-
PPFAS Asset Management. He was courageous and spoke his mind, even if that
meant loss of business. He was ready to always learn.
His AMC manages only single fund – PPFAS Long
Term Equity Fund and no plan to second equity and debt fund. Their equity fund
ads clearly mentioned that investor should note that this scheme is suitable
for investors who have investment horizon of minimum 5 years. He made it
compulsory for all his employees to invest in their schemes. In Feb 2015, employees
held approximate 9% units in long term equity fund. You will be surprised his
fund’s biggest holding is “Google”- almost 10%. . PPFAS AMC is only AMC to
conduct unit holders meeting like a company’s AGM.
He
was a great fan of Warren Buffet and implemented his investing philosophy in
AMC business. He has written many books on investment philosophy and financial
market.
If you have doubt about investment
product and want more information regarding investment or you need investment
services, feel free to ask us. We also conduct the seminar on investment and
financial planning. If you are interested for conducting seminar in your city,
just drop the mail.
Warm regards,
Arvind Trivedi
Certified Financial Planner
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