[24 Sep 22] Newsletter: Power Grid Cracks, 5 Good Reads & What’s happening at BYJUs

🔆 Quick glance

• Market Overview: Sensex 30 PE trend, Macro markers & Market Movers
• Links we like: 5 good reads on markets & money
• YouTube: Is BYJUs an Edtech company or NBFC?

Market Overview 🎯

Power Grid closed in red for 5 consecutive days to eventually end up 14.1% down for the week. Yet, the stock is up by almost 14% over the last year while the Nifty 50 is flat. The power and cement sector had a stressful week in the markets.

FMCG stocks had a good week in the market with HUL, ITC, and Britannia gaining over the last week.

Nifty is absolutely flat over the past year whereas gold is up 8%, the dollar is up by 10%, crude is up 14% and government bond yields have gone up 20%. Clearly, the last 1 year was not good for the markets.

The Sensex PE ratio is at 23.0 and here’s the comparison to the long-term range

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Links we like 📝

• When good and honest people can be incentivized into crazy behavior, it’s hard to estimate the odds of the world going off the rails. Read – Incentives
• What factor do successful people most attribute to for getting to where they’d gotten in life? Read – Focus and find your favorite problems
• On market timing: Why buy-and-hold works even if you are the worst market timer. Read – How the worst market timer built a fortune
• The more narcissistic a fund manager is, the more cautious investors should be. Read – A narcissist manages money
• Cutting your losses short and letting your winners run is easier said than done. Here are four reasons why. Read – How a 52-week-high hurts returns

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Capitalmind on Youtube

Byju’s is in the news for all the wrong reasons. In this video, Deepak deciphers their complex financials and how BYJUs may be a closet NBFC.

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