Dr. Sanjeev Bhojraj

Sanjeev is a co-founder of Kailash Capital. He is also a portfolio manager and co-founder of L2 Asset Management. Dr. Bhojraj is widely published in the top journals in finance and accounting and specializes in behavioral finance. With 19 Years of total experience, Dr. Bhojraj is also a Chaired Professor in Asset Management and the co-Director of the Parker Center for Investment Research at Cornell University’s Business School. Dr. Bhojraj has a Ph.D, ACA, ACMA and B.Com.

December 8, 2022

Home/Dr. Sanjeev Bhojraj

Growth Investing Gone Wrong: Avoiding the Double Bogeys

April 1, 2022|

In Fast Growth Stocks, we explained the risks to “growth investors” seeking quick profits in some of the market’s most speculative firms. That rant laid the groundwork for our paper explaining the obvious opportunity to invest in growth companies at reasonable prices. A once in 20-year opportunity, in our view.

Is EOG’s Stock Price Heading Higher?

March 25, 2022|

Is EOG A Good Stock to Buy? The chart below shows the performance of natural gas and crude oil exploration and production firm EOG Resources over the last 3 years. Since the stock’s trough in October of 2020, it has risen over 250%, triggering behavioral errors that often give investors the feeling that they “missed” a stock after it rises that much.

Survivorship Bias Free Stock Data is Critical to Investors

February 25, 2022|

Before we show you how quality and reasonable valuations are the breeding grounds of greatness, let’s talk about a common analytical error. When analyzing stocks and investment strategies, using bias-free data is a basic and critical first step. For a beautiful explanation, we guide you to Teddy Koker, a researcher at MIT’s Lincoln Labs, elegant walk-through, complete with programming instructions. For those interested in a less complex example, this post is for you.

Hillenbrand Investor Relations has an Incredible Story…

February 18, 2022|

(And nobody is listening, hence the opportunity). Hillenbrand 60 Second Summary: • $3.5bn market cap • Double digit earnings growth • 2% dividend yield • Authorization to buy-back 10% of shares outstanding. • 11% FCF Yield so could buy that stock back from ongoing FCF • Founded in 1906 – longevity • If management just avoids making an expensive acquisition, this stock can deliver significant growth & cash returns to shareholders

Hillenbrand Stock Price = Capital Discipline for Cheap

February 18, 2022|

• We have been proponents of investing in companies that make what you need, not what you want. • Behavioral errors often give investors the feeling that they “missed” a stock after it has risen • KCR believes that Hillenbrand lies at the intersection of two powerful themes we have highlighted: the opportunity in small-cap value stocks and finding growth at a reasonable price

Democratizing Finance: Agency Problems and Investment

February 16, 2022|

This work was inspired by UCLA Professor Michael Brennan’s efficient autopsy of the dot.com bubble. Published in 2004, the piece broke down the mania that led to the historic bubble in 2000. A misplaced belief in Efficient Markets, agency problems on Wall Street, and weak accounting rules figured large in his work.

Market Cap vs. Revenue: The Implications of 20x P/S Ratios

February 4, 2022|

The Chart Below Shows: • the market cap of just software stocks valued at over 10x price to sales is over $6 trillion • that means that software stocks priced at preposterous levels are now worth ~30% of US GDP • KCR thanks Scott McNealy for making investment decisions on stocks valued like this simple

Go to Top