Siddhartha Bhaiya's Investment Legacy: From 'Bean Counter' to Multibagger Hunter
Veteran fund manager Siddhartha Bhaiya, who passed away due to cardiac arrest in New Zealand, revealed he would have been a 'bean counter' if not an investor. The 47-year-old Aequitas MD was renowned for exceptional stock picks including 100X returns in Avanti Feeds and 50X returns in Apar Industries and Sanghvi Movers. Drawing inspiration from Warren Buffett, his investment philosophy focused on longevity and not confusing brilliance with bull markets, while maintaining a contrarian approach with significant gold ETF holdings.
*this image is generated using AI for illustrative purposes only.
Siddhartha Bhaiya, the managing director and chief investment officer at Aequitas, passed away at the age of 47 following a cardiac arrest during a family vacation in New Zealand on December 31. The veteran fund manager's sudden demise has sent shockwaves through India's asset management industry, leaving behind a remarkable legacy of identifying smallcap multibaggers.
Personal Philosophy and Inspiration
In a revealing interview with PMSBazaar, Bhaiya once mentioned he would have been a "bean counter" if he hadn't become an investor. A bean counter is an informal term for an accountant, auditor, or finance professional who is seen as overly focused on numbers, costs, and details. The chartered accountant-turned-fund manager drew inspiration from Warren Buffett, particularly admiring the legendary investor's ability to make consistently sound decisions over long periods of time.
For Bhaiya, longevity separated great fund managers from the good ones, and his motto was not to confuse brilliance with bull markets. This philosophy guided his investment approach throughout his career at Aequitas.
Exceptional Stock Picks and Returns
Bhaiya's investment acumen was demonstrated through his remarkable track record of identifying multibagger opportunities. His portfolio showcased extraordinary returns across various smallcap companies:
| Stock Category: | Company | Returns |
|---|---|---|
| 100X Returns: | Avanti Feeds | 100X |
| 50X Returns: | Apar Industries, Sanghvi Movers | 50X each |
| 20X Returns: | JSL, GAEL, HEG, Finolex Cables, TIIL | 20X each |
| 10X+ Returns: | HIL, Garware, CCL Products, Cosmo First, Maithan Alloys, Nilkamal, Powermech | 10X+ each |
Investment Approach and Market Views
Bhaiya's investment philosophy centered on generating outsized returns by investing in small-cap undiscovered companies. His approach was characterized by bottom-up stock selection methodology and a multibagger investment approach with exposure across all market capitalization segments.
Recently, he had described the current market as a "bubble of epic proportions" rather than a healthy bull phase. He maintained a disciplined approach, focusing on individual businesses, their valuation comfort, and growth prospects to manage downside risks while generating good returns.
Contrarian Investment Strategy
As a value investor, Bhaiya strongly advocated for gold, reflecting his contrarian mindset. The November data shows that the ₹4,000.00 crore fund had 81.50% of its holdings invested in gold ETFs. Among bold calls that Aequitas took as a fund house, Bhaiya mentioned buying Gold ETFs and the decision to invest internationally and diversify away from Indian equities.
Leadership Legacy at Aequitas
Bhaiya was instrumental in taking Aequitas from a start-up to one of the consistently best performance track-record in the industry. Under his leadership, the company established itself among the top asset management companies in India, offering specialized services across portfolio management services, alternative investment funds, and offshore fund management. His PMS fund was the top performer in the latest period, cementing his reputation as one of India's most successful smallcap multibagger hunters.
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