Hits and Misses of 2013

This year has been a mix bag of kind.  While most of the portfolio stocks performed well this year, there were some losers which had significant impact on the portfolio level due to position sizing.  Key to portfolio performance is concentration and position sizing.  Going forward, I would be consolidating my positions and making it a bit more concentrated.  Key fact that comes out is , while most of the well-known and big stocks of the market has not performed with the exception of TCS, it is those mid caps that have not been discovered by the market yet are those that outperformed.  Going forward,  that is going to be my policy.

Hits and misses are purely derived based on the price performance from 01 Jan 2013 until the end of Year as of 25-Dec-2013.   This does not include stocks that have been exited during the year.  For stocks that were included into the portfolio during the year, the return is from the date the stock was first bought.  Such stocks are marked with a * .  Stocks that had bonus or splits have been adjusted for their price.

Hits:

Mayur and most of the Auto stocks had a wonderful run this year.  While the perception is that auto is having slowdown the reality is if you picked right stocks at right price, they gave outstanding returns as shown below.

Mayur Uniquoter	190%
Atul Auto	79%
Suprajit Engineering	76%
VST Tillers	68%
TCS	66%
Ajanta Pharma *	55%
Supreme Industries	44%
Indag Rubber*	43%
Dhanuka Agritec *	34%
Swaraj Engines	27%
Torrent Pharma *	11%
Bliss GVS *	8%
Orbit Exports *	4%

Misses:

This year has been bad for banking stocks in terms of performers.  I am being greedy in financials now and accumulating it as the market is fearful about the same due to higher expected NPAs.  Markets have punished all the PSU stocks and rightly so as they have shown pathetic performance due to policy logjam by the government.  It could be a while before they turn around and I will be looking to lighten or exit some of the position due to opportunity cost in the coming year.  Bajaj Corp and Hindustan Media Ventures  are recent entries and are currently in accumulation mode.

Wim Plast	-4%
HDFC Bank	-4%
HDFC	-6%
Axis Bank	-6%
Bajaj Corp *	-7%
Hindustan Media Ventures Ltd*	-8%
Sun TV Network	-12%
NMDC	-17%
BHEL	-25%
Engineers India	-27%
Lumax Auto Tech	-37%