Monday 5 October 2009

BRIC Stocks Recommended by Forbes - October 2009

BRIC Stocks Recommended by Forbes - October 2009

I received through email a report from a highly reputed name - Forbes. Take a peek:

While I don't have a clue about other stocks mentioned in this report, I certainly know something about one of the recommended names - Infosys.

At the outset, let me declare in no uncertain terms the following:

  • I'm a big fan of Infosys
  • Do have investments in Infosys
  • Do regard Infosys to be a great company
  • Do hold its management in high esteem on parameters like Corporate Governance, Efficiency, Cost-consciousness, Customer-orientation, etc.

Having stated all the above, let me get to the main point - I'm deeply disappointed by Forbes recommending Infosys. Reasons are plenty. Some of them:

  • Infosys is a highly discovered story - At least in India, virtually every Ram, Krish and Hari knows about Infosys
  • Infosys is an extremely old story
  • Infosys is a great company, but perhaps not a great stock, especially considering the kind of other opportunities available in the Indian stock markets.
  • Infosys is quoting at a PE of around 23 - Its EPS is expected to grow at around 17% per annum in the next 5 years - How much more can its share prices zoom further?

Even more interestingly, if Forbes' top 5 BRIC Stocks recommended includes Infosys, one can very well imagine the quality of the other four shares recommended in this report.

Morals of the story:

  • Infosys is a great name - I love the company
  • Forbes is a great magazine - I respect the magazine
  • But do I depend on Forbes to determine my stock picks??? Certainly, I wouldn't

On the contrary, I'll much rather prefer to do my own research and come to my own conclusions.

What about you?

Regards,

N


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