Sanjay Bakshi
Indian value investor who taught Behavioural Finance and Business Valuation as an adjunct professor at MDI Gurgaon. He writes the Fundoo Professor blog about investing, moats and mental models.
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What they believe
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Retained corporate earnings do not automatically translate into capital appreciation equal to the earnings retained.
This reasoning contains a critical error, which assumes that retained earnings will deliver capital appreciation equivalent to the earnings themselves-an assumption that is not true.
fundooprofessor.wordpress.comSaid 3 Mar 2026This on korrents
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Opt-out organ donation systems achieve higher donation rates than opt-in systems, though changing defaults alone does not guarantee more donations without supporting infrastructure.
Countries with opt-out (default = donor) systems have donation rates nearly double those of opt-in systems although recent research shows the effect is more complex - changing defaults alone doesn't always increase actual donation rates without supporting infrastructure.
fundooprofessor.wordpress.comSaid 9 Sept 2025This on korrents
The bold line is korrents’ wording; the quote is theirs. These 2: what they wrote before what they said aloud, one per source, newest first.
Beliefs
Korrents What they believe 7 beliefs — each backed by an exact quote.
Each is a — compiled by korrents.com, not by them: the one-line wordings are korrents', the quotes are theirs.
Recent
Retained corporate earnings do not automatically translate into capital appreciation equal to the earnings retained.
This reasoning contains a critical error, which assumes that retained earnings will deliver capital appreciation equivalent to the earnings themselves-an assumption that is not true.
The Misunderstood Role of Dividends in Long-term Stock Returns Said 3 Mar 2026
A persistently rising dividend yield eventually forces capital appreciation as the market rerates the stock.
In other words, the mathematics of rising dividend yields, necessarily generate capital appreciation.
The Misunderstood Role of Dividends in Long-term Stock Returns Said 3 Mar 2026
A high, stable dividend yield gives a stock's valuation a downside floor that growth stocks without dividends lack.
The downside risk is substantially lower than for "growth stocks," (which pay no or very little dividends) because the stock's valuation is anchored by its dividend yield, not by speculative earnings growth assumptions.
The Misunderstood Role of Dividends in Long-term Stock Returns Said 3 Mar 2026
Show 4 more
Opt-out organ donation systems achieve higher donation rates than opt-in systems, though changing defaults alone does not guarantee more donations without supporting infrastructure.
Countries with opt-out (default = donor) systems have donation rates nearly double those of opt-in systems although recent research shows the effect is more complex - changing defaults alone doesn't always increase actual donation rates without supporting infrastructure.
Default Choice Worth > $ 20 Billion A Year! Said 9 Sept 2025
People tend to stick with preselected default options because effortful, deliberate decision-making conflicts with the brain's tendency to conserve energy.
System 1 dominates. It operates automatically 95% of the time. Changing defaults involves System 2 activation which requires cognitive efort and the the human brain is designed to conserve energy. When choice depletes mental resources, if falls to the default option.
Default Choice Worth > $ 20 Billion A Year! Said 9 Sept 2025
Whether a company's customers or its shareholders capture the benefit of a tax cut depends on how much pricing power that company has.
Companies with pricing power will retain the benefits of GST reductions as increased profits, while companies without pricing power will pass the benefits to consumers through lower prices.
Who Will Benefit from Reduced GST Rates? Said 5 Sept 2025
In commodity industries, extraordinary profits from shortages are eventually competed away as supply responds to the profit incentive, and losses are similarly self-correcting through reduced supply.
If shortages produce extraordinary profits, then the market will regulate those profits in the long run as supply increases thanks to the incentive effects of capitalism.
Who Will Benefit from Reduced GST Rates? Said 5 Sept 2025
What is a korrent?
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Nobody here wrote their own korrents. They are compiled from public statements, and a person can change their mind, which is recorded too.
Recommends rcmnd
rcmnd What they recommend 11 things — each backed by an exact quote.
Compiled by rcmnd.app, not by them: the quotes are theirs, and each links to the post it was copied from.
Recent
Loved Judgment in Managerial Decision Making
The Ultimatum example was quoted from Max Bazerman’s excellent book, Judgment in Managerial Decision Making
fundooprofessor.wordpress.com 13 Oct 2012
What others say about Judgment in Managerial Decision Making →
Loved The Little Book that Builds Wealth
This from an excellent book called The Little Book that Builds Wealth.
fundooprofessor.wordpress.com 8 Oct 2012
Loved Deep Simplicity
In his excellent book “Deep Simplicity,” John Gribbin describes the Red Queen Effect in terms of an imaginary species of frog that feeds on an imaginary species of fly.
fundooprofessor.wordpress.com 16 Sept 2012
Show 8 more
Loved Damn Right!
In her excellent book, “Damn Right!: Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger,” the author, Janet Lowe, relates the 1967 story:
fundooprofessor.wordpress.com 16 Jul 2012
Loved A Mathematician Plays the Stock Market
The above village story was adapted from John Paulos’ excellent book, Once Upon a Number and was repeated in his, other, also excellent, book, A Mathematician Plays the Stock Market.
fundooprofessor.wordpress.com 9 Nov 2005
What others say about A Mathematician Plays the Stock Market →
Loved Once Upon a Number
The above village story was adapted from John Paulos’ excellent book, Once Upon a Number and was repeated in his, other, also excellent, book, A Mathematician Plays the Stock Market.
fundooprofessor.wordpress.com 9 Nov 2005
Loved Five Eminent Contrarians
Let me end, though, by quoting Michael Aronstein, who, in the excellent book, Five Eminent Contrarians, pretty much agreed with my own views on the subject, by saying:
fundooprofessor.wordpress.com 5 Nov 2005
Recommends Creative Whack Pack
I recommend the purchase and extensive use of the Creative Whack Pack. For less than $11, it’s a great investment.
fundooprofessor.wordpress.com 9 Oct 2005
Loved Influence
Of these four tendencies, the first one is described very well in Robert Cialdini’s great book, Influence.
fundooprofessor.wordpress.com 8 Oct 2005
Loved The Contrarian Guide to Leadership
Before I read The Prince, I read an excellent book called, “The Contrarian Guide to Leadership” by Steven Sample.
fundooprofessor.wordpress.com 30 Sept 2005
Recommends The Prince
Machiavelli’s “The Prince” is a great book and should be made compulsory reading for all MBA students.
fundooprofessor.wordpress.com 30 Sept 2005
Where they publish
Blog Fundoo Professor Bakshi's blog since 2005, on value investing, moats and behavioural finance.
Open fundooprofessor.wordpress.com
Link verified 5 Sept 2026.
x.com @Sanjay__Bakshi Bakshi's X account.
Recent
- Technical topic. Looking forward. 10 Oct 2026
- Apple's market cap was about $351–360 billion when Steve Jobs died. On September 1, 2026, Tim Cook's last day as CEO, it was $4.75 trillion. When Ballmer handed over to Satya Nadella in Feb 2014, Microsoft market cap was about $315B. It’s $3.7 trillion now. Similar outcome with Sam Walton and Wal-Mart. It went the other way with GE and Jack Welch. So, it cuts both ways, and I think the deciding factor is whether the underlying business quality, moat, and capital-allocation discipline survive the transition intact. 3 Sept 2026
- I asked Claude Fable 5: "How vulnerable is the business model of XYZ (name concealed)? I am referring to competitive attacks from China and dependence, if any, on government policy incentives, etc. There have been so many solar energy and wind energy bubbles in the past, and I have kept away from these companies. Am I being too cautious? 10 Aug 2026
Show 17 more
- There are bold traders, and there are old traders, but there are no bold, old traders... 31 Jul 2026
- Recall Wikipedia killed all encyclopaedias including Encyclopaedia Britannica, World Book Encyclopaedia, and Microsoft Encarta. Defective but free is often good enough for most customers, existing and potential. 24 Jul 2026
- This is the Red Queen Effect playing out. 12 Jul 2026
- Message from my daughter Meet Lulu: born on the streets of Delhi but meant for only fine treats, Lulu is an orphaned female puppy who lost her mother and her littermates. A rough start to life hasn’t dampened her spirit though: Lulu is a feisty, energetic, adorable ball of fun! Give her a chance - you won’t regret it 💛 Contact Garima if interested in adoption. 4 Jul 2026
- Thanks to your intervention, the @rblbank has started reversing some of the fraudulent debits. Earlier they had flatly refused to do so in writing and in fact informed me that the “case is closed” even though it’s pending with @RBI Ombudsman. One big lesson for me: Don’t have debit cards. Cancelled all of them. Use credit cards instead and always pay in full before due date. 1 Jul 2026
- This finally happened. Thank you to all those who helped. 30 Jun 2026 worldrecordsindia.com
- This needs to be amplified. @suchetadalal @kayezad Veena, you are not the only one. My case involves @rblbank 22 Jun 2026
- “the small investor always finds out last. no Bloomberg terminal. no management access. no early warning.” @Moneylifers gave early warning about problems long ago at a cost every investor can afford. @suchetadalal 6 Jun 2026
- Moneylife team wrote on this in 2014. https://t.co/zupGHGokwj @Moneylifers @suchetadalal No position. 4 Jun 2026
- A cheap stock without a catalyst is a value trap plus a prayer for a bull market. (That is chasing beta) https://t.co/0XrAuqYqhz The most common catalysts are earnings growth when combined with very low P/E multiples plus a high dividend yield. Doesn’t happen very often but a setup like this must result in stock price appreciation otherwise the yields start exceeding bond yields which by themselves are catalysts for re-rating. There are many other catalysts based on developments inside the company (corporate actions) or developments in markets (eg increase in free float, inclusion in an index… 30 May 2026
- There will be ups and downs in the economy says @gchikermane but our focus should be on long term health. He is optimistic about India despite the headlines. 19 May 2026
- 📌 SEBI EoDI Disclosure (effective 1 May 2026) I am Founder & Principal of ValueQuest Capital LLP: — SEBI Registered Investment Adviser: INA100002032 (valid till 26 July 2029) — Category III AIF Manager: IN/AIF3/25-26/1988 — BASL Membership No. 1532 All posts on this handle are personal and educational. Nothing here is investment advice or a solicitation to buy/sell any security. Full disclosures: 13 May 2026 valuequestcapital.com
- “Used actively and with intention, AI is more than a functional productivity tool. It advances what a single person can take on: a young professional fluent in digital tools for research, analysis, and execution can now do work that once needed a team Think of AI as a huge, tireless brain holding answers to almost any question. But what to ask, within which constraints, and what to look for in the answer, is the part only the human can direct. Framing the right problem requires giving AI the right history and concerns. The quality of the answer is, in the end, governed by the quality of askin… 12 May 2026
- One consequence of Mr. Buffett taking a back seat is that we now get to learn from the people who have moved into the front seat. For the longest time, Ajit Jain operated undercover. Now he is teaching the world how he thinks about pricing risk. Berkshire’s role as a teacher of business and investment management is far from over. 4 May 2026
- Prisoners’ dilemma and red queen come back in new avatars. 28 Apr 2026
- Proud to see an ex-student’s photo on the cover page of ET. For the right reasons. 😊 @jaycee77 16 Apr 2026
- https://t.co/JGsnEXIi3l Looking forward to doing this again. New cases. Expanded course. Bigger venue. @FLAMEUniversity 14 Apr 2026
Link verified 5 Sept 2026. Recent items update automatically from the channel.
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