Thieves never change, I burn my finger trying to bet on #changingIndia:

New Delhi: Porinju Veliath, a well-known alpha chaser on Dalal Street, says that only companies with integrity can be consistent compounders.

Sharing his views on the ongoing market correction on social media, Weliath tweeted: “Mostly
ThiefNot converted! Trust me, I’ve burned my fingers more than anyone else’s bet on the #ChangingIndia theme. ”

He said they would be destroyed in the ongoing ‘historic detoxification drive’ of corporate India. Only companies with integrity – small or large – will survive and win.

Parinju-led Equity Intelligence had 2,338 investors in September with assets under management of Rs 894 crore. Its PMS returned 5.60 percent last month, according to Sebi’s monthly portfolio manager report.

Its PMS saw a decline of 2.69 percent in August, 13.20 percent in July and 6.15 percent in June.

Earlier, in January 2019, Paranju said he had made a mistake by investing in LEEL Electricals, formerly known as Lloyd Electric and Engineering.

As of January 1, 2018, about 1,250 stocks have lost more than 50 percent of their assets on the BSE. In the last 21 months, 126 stocks have lost more than 90 percent

A staggering 2,100 stocks have failed to give a positive return since January, 2018. The sale has confused many seasoned investors.

The benchmark BSE Sensex has risen 11 percent since January 2018, with the BSE Smallcap and Midcap indices falling 34 percent and 23 percent, respectively.