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Carnelian Shift

Investment Strategy

Carnelian Shift is designed to find attractive opportunities in structural decadal shifts in manufacturing and tech evolution.

Carnelian employs a Concentrated QGARP portfolio – Quality Growth companies (Business & Management) at a Reasonable Price. The strategy aims to hold 20-25 stocks in the portfolio.

Investment Framework

  • Investing in good businesses: with traits such as profitable, robust cost leadership, opportunity and market size, free cash flow generation, the incremental return on capital, time test and easy to understand, and sustainable moat.
  • Great Management: evaluated based on integrity, modesty and capability, efficient capital allocation and a record of strong governance and risk management culture.
  • Favourable Risk Reward: upside potential with margin of safety (through business risk, balance sheet risk, and valuations)
  • Negative Screening: Avoid companies based on Aggressive accounting principles, High financial leverage, Low tax incidence, Management having misaligned objectives, Management with poor governance record and/or Management in hurry to create value.

Forensic Analysis based on CLEAR Framework

Carnelian’s forensic analysis involves a 2 step approach:

  1. Carnelian forensic check: An automated template screening last 10 years of historical data, highlighting potential minesweepers, which get rejected at this stage 
  2. Forensic deep dive:  CLEAR Framework  Their forensic team will deeply analyse the annual reports % financials which will be presented in a prescribed format to the investment committee. 

CONNECT WITH US

Use our Live Chat
Book 15-min Introductory Call
WhatsApp us @ +91 96320 07774

IME Capital Pvt. Ltd. is a research-first investments firm. We aim to disrupt the wealth management industry, by shrinking the gap in investment insights between central research teams & RMs/Clients. 

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