ANNUAL LETTER 2024

Namaste,

Wishing your family & yourself a very Happy New Year!

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How did your Funds Perform – Fantastic!

(Image: Shree Wealth Builder Plan & Shree Dynamic Plan)

What worked?

1.??Indian Stock Markets did very well for us to make money. (Earnings, Indian Economic data & of course Political expectations)

2.??NASDAQ did very well for us.

3.??We were disciplined enough to Rebalance as the Triggers Hit.

Shree Wealth Builder Plan - booked profits as we Rebalanced Regularly

Shree Dynamic Plan – protected capital in Weak Markets & became aggressive in Strong.

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What did not work for us:

1.??Fixed Income, REITs underperformed – already seen signs of it turning around.

2.???Shree Wealth Builder Plan: Our Quarterly Rebalancing - led to Slightly reducing Equities (especially when markets were going up).

3.???Nasdaq underperformed Indian Equities in the Last quarter.

4.? ?Allocation to equities was not 100% (Shree Wealth Builder ?Plan– 80% & Shree Dynamic Plan is at 93% on strong markets).

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Plans for 2024:

1.???We cannot Predict the Markets.

2.???We continue to work on the Strategy and are hoping to do far better.

3.???Be Cautious – This market is torn between Exuberance & Optimism. Being a Portfolio Manager, my default reaction is: It’s not that Great (in Optimism) & It’s not that Bad (in Pessimism).

4.?? The Political scenario, Earnings, looming Global Rate cuts show a good year ahead.

5.??However, the real test of a Portfolio manager happens only when markets are tough.

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What am I telling my Mother (my 1st investor):

• Always expect 8-10% correction each year, 20-30% correction every 3-4 years & 30-40% correction every 8-10 years.
• In those times, Be patient & Do nothing to create wealth.
• If you have Surplus Capital, deploy especially during those times.

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As Warren Buffett remarked –

Every decade or so, dark clouds will fill the economic skies, and they will briefly rain gold. When downpours of that sort occur, it's imperative that we rush outdoors carrying washtubs, not teaspoons. And that we will do.

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What should you do:

1.???Stay invested if your goals are at least 4 years away.

2.???Speak to your Financial Advisor / Portfolio Counsellor to review your Financial Plan regularly.

3.???Start /Increase your SIP to get the benefit of Discipline & Rupee cost-averaging.

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As I always say—but can never say enough—thank you for being my clients. It is a genuine privilege to serve you.

Please feel free to reach out to me at [email protected] / 9830 711 636 for any questions or feedback.

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Trustfully,

Mohit Beriwala

# Ethical Advice, Always

# Make Investments Smarter

# Bridging Human Psychology

PS:

We are on Social media:

My LinkedIn:?https://linkedin.com/in/mohitberiwalacfa

My Twitter: https://twitter.com/MohitBeriwala/

SRM LinkedIn: https://www.dhirubhai.net/in/shree-rama-managers-llp-06b476283/

SRM Twitter: https://twitter.com/SHREERAMAPMS

[ Disclaimer: The client has an option for direct onboarding without the intermediation of persons engaged in distribution services. Clients under Portfolio Management Services are not being offered any guaranteed/assured returns. The performance-related information provided herein is not verified by SEBI.]