Reading and understanding Annual Reports of businesses is a must for any long term investor in the stock market.
However, we must also understand that management of a business has a vested interest to present an overly optimistic picture of the future outlook of its company in the annual report.
Legendary investor, Philip Fisher said it right:
Learning from Fisher, we, at SSS, decided to go beyond the annual reports to the underlying facts.
And we figured that one of the best ways to do that is to attend conference calls of companies on a regular basis.
Management may fake its tone in the Annual Reports, but it cannot do it consistently when it is out there live, answering questions to a bunch of intelligent minds in the investor community.
We have been attending conference calls of listed companies for a long time.
From Q3FY19 onwards, we decided to make our notes on these calls available for our readers.
You can see all the updates of the last six quarters here.
For the last quarter (Q4FY20), we decided to compile all the notes in one single document.
This comprehensive 150+ page report covers 50 companies across 17 sectors.
In the last 18 months, we have invested 300+ hours to listen to the calls and compile the notes.
We hope it will add value to your research.
It helped us a great deal.
If you can’t see the embedded report, please click on the download report button.
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Happy Investing!