Amitabh Singhi Top Ideas From The Value Investing Congress

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The 10th Annual New York Value Investing Congress takes place in New York on September 8th and September 9th 2014. ValueWalk will be providing coverage of the event- below is a presentation from Amitabh Singhi on value investing in India.

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Amitabh Singhi Top Ideas From The Value Investing Congress

Amitabh Singhi is Managing Director at Surefin Investments, an India based portfolio management and investment advisory company. Since inception in mid-2001 the fund has returned 24.7% annualized, net of all fees to investors. Mr. Singhi graduated with a BS in Economics from the Wharton School at the University of Pennsylvania, with concentrations in Finance and Management.

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30m housing shortage, growing by 4m a year

Amitabh Singhi's ideas: Aro Granite, Tata Motors

First idea -- created a private company to build low end housing units (looking for more investors --thinks demand is almost unlimited at this point) --can't build them fast enough

Aro Granite Industries Ltd (BOM:513729) (NSE:AROGRANITE)

10yr avg ROE before 2007 = 20%

since 2007, ROE=10%

ROE's should be 15%

Added capacity in 2007

Lots of working capital

trades at .5x book

4x P/E 13m market cap

Tata Motors Limited (ADR) (NYSE:TTM) (BOM:500570) (NSE:TATAMOTORS) DVR

TATA used to own 80% of DVR’s, but now own less than 1%, 

The discount recently dropped to 30%

1/10th the voting right, slightly higher dividend

Long the DVR, short TATA common stock

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The post above is drafted by the collaboration of the Hedge Fund Alpha Team.

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