Letter # 63

For those surprised at how well SBI and ICICI have done over the past year, can you guess their weight in Bank Nifty in 2007? HDFC bank and Kotak had stellar 12 years (2008-20) – they became ‘go to’ banks for many investor. Then the cycle turned. To see the underlying cycle that many miss, please click here. A tennis story will likely help.

Investing: A tennis lesson can help you build a winning portfolio of durable stocks – The Economic Times (indiatimes.com)