What-if
Shenoy: Strict Fintech KYC Standards Would Shut Down Public Sector Banks
“In many public sector banks, the KYC situation is so bad. That if they went down the same route, they would have to shut down the public sector bank tomorrow.”
Opinion
Shenoy: Tata Group Operates Mostly Like a PSU Culturally
“See Tata is a PSU. By, for the most part.”
Opinion
Shenoy: Indian MNC FMCG Stocks Should Fall 30% to 50%
“So you should actually be falling 30, 40, 50% just to come to an equalization in terms of your normalized long-term growth plus your high ROC.”
Opinion
Shenoy: Large-Cap Stocks Are Not Less Risky Than Small Caps
“Large caps are not less risky than small caps.”
Insight
Shenoy: Financial Regulators Should Only Penalize Influencers for Provably Malicious Actions
“I think the action needs to be justifiable justifiably malicious or provably malicious.”
Assertion Partly supported
Shenoy: Kotak Was the First Regulated Entity to Beat RBI in Court
“So, but there Kotak displayed a point where he said the first time a regulated entity went to court and won.”
Assertion Supported
Shenoy: Yes Bank AT1 Bonds Were Completely Written Down to Zero
“Jab yes bank mein trouble hoa, then 80 bonds were written down to zero. To na apko interest milla na principle.”
Insight
Shenoy: Banks Should Always Demand Equity When Forgiving Corporate Debt
“As a shareholder of a bank, I will say that banks should always take equity in case they may forgive. Even one rupee of a loan. If I forgive one rupee, I should have equity against it.”
Opinion
Shenoy: Investors Must Beware PSU Banks as Bad Loan Behaviors Return
“The issue now has become that the banking system has started to go back. So you should be careful that public sector banks, which we are talking about, that it's good, good, good. One situation which had made them better, the signs of it becoming worse are bac…”
Opinion
Shenoy: Nestle at 80x PE Is Unjustifiably Overvalued Given 5% Growth
“Today, for instance, I think MNC valuations are unjustifiably high. I think you should not pay 80 times earnings for Nestle. You just shouldn't. It's a company that will grow at max five or six percent.”
Assertion Supported
Shenoy: Indian Small-Cap Earnings Growth Matched Their 3x Valuation Rise
“In the year of the year, the companies, the market cap, two 51 to 500, versus the multiple today, is the same. Matlab, their valuations have gone up three X. Their earnings have gone up three X. That means from 2019 to now, which is roughly five years, three a…”
Opinion
Shenoy: Attributing Jhunjhunwala's Wealth Only to Titan Is a Mistake
“Simplifying Rakhe Junjanwala into one Titan is probably one of the mistakes of our generation.”
Assertion Supported
Shenoy: Indian Stock Trading Volume as a % of GDP Peaked in 2007
“In 2006, if you believe it, as a percentage of GDP, more stocks were traded in 2007 than they are now.”
Opinion
Shenoy: Reliance Jio Was the Primary Catalyst for India's Digital Trading Boom
“The real thing that changed for India and not just trading pretty much everything was one company. And while I own it, it's Reliance Jio. They brought cheap and very, very quick, big bandwidth to India at a relatively easy availability and easy low price.”
Insight
Shenoy: Taking 50% Corporate Investment Locks Startups Into a Single Exit Path
“If you have 50% investment from a company, then that company becomes your exit. Unless that company is an investment company.”
Insight
Shenoy: Private Market Investors Ignore the Conflicts of Interest Public Markets Scrutinize
“So in a private market transaction, you may not look at the things in the same angle. You don't look at conflict of interest in the same way public markets do”
Opinion
Shenoy: Bankers Who Mis-Sell Toxic ULIPs to the Elderly Should Face Jail
“This ULIPs and all that shit, the stuff that is toxic and sold by old people, that should require a jail term. Because now you are acting maliciously. You are making a commission for your commission and that is a bad thing.”
Insight
Shenoy: Public Valuations Are Structurally Lower Because They Lack Private Investor Rights
“Public market valuations will always be lower just to compensate for that effect unless your company is so good that they are saying ki, you know, I love it.”
Insight
Shenoy: VCs Should Push Portfolio Startups to List on Indian SME Exchanges
“My funda is, in fact, a VC should go and tell companies, please list on the SMA exchange. I will buy your shares on the SMA exchange. After that, if there is no liquidity, it will come one day. Your e-shops, your employees can sell on the, this thing exchange.”
Opinion
Shenoy: RBI's Fintech Regulatory Actions Are Overly Harsh
“And I think also that their actions are a little too strong and harsh because they generally give time.”
Prediction Not checkable as stated
Shenoy: Regulators Will Eventually Face Pushback From an Honest Entity
“One day, the regulators will go after the wrong person, and the wrong person means they're After an honest person. And that honest person will say, we have remedies.”
Insight
Shenoy: NBFCs Exist Primarily Due to Regulatory Arbitrage Over Banks
“And the reason for NBFCs to exist has always been regulatory arbitrage.”
Insight
Shenoy: Banks Are No Longer Reliable Indicators of India's Economy
“Banks are no longer the indicators of the economy in India, as far as I know.”
Opinion
Shenoy: Power Finance Corp Is Not Necessarily Overvalued at 8x P/E
“Power Finance Corporation, again, we own some of that. So, that is, was trading at two times earnings. Now, it is trading at eight times earnings. No, four. Forex. So, two has become eight. But, it is not necessarily overvalued even now.”
