Manish Goel - SEBI Registered Investment Advisor

About Manish Goel

SEBI Registered Investment Advisor • Chartered Accountant

383 Articles Published

Manish Goel is a Chartered Accountant, SEBI-registered Investment Advisor, and founder of Multibagger Shares. A full-time value investor since 2010, he has helped thousands of investors build long-term wealth through quality stock picking and disciplined fundamental analysis.

May 2, 2026
Hero section with the title 'Process vs Outcome Thinking' and green subtitle on a dark blue background; centered, multicolor circular FY25 logo below.

Process vs Outcome Thinking: Annie Duke’s ‘Thinking in Bets’ Framework

A great process can produce a bad year; a bad process can produce a great year. Annie Duke and Michael Mauboussin formalised the discipline that separates them. SEBI's 2025 study shows 91.1% of Indian individual F&O traders lost money in FY24 — a textbook display of 'resulting' at scale. Plus a positive case study of how Titan Biotech's audited FY25 numbers illustrate management process discipline (educational, not a valuation call).
May 2, 2026
Header image: dark blue page with the title "Book Value Per Share (BVPS) Compounding" and a green subtitle; a four-block grid labeled Trader (gray), Compounding (green), Drift (light gray), Speculator (orange).

Book Value Per Share (BVPS) Compounding: Warren Buffett’s 53-Year Berkshire Yardstick

Warren Buffett used Book Value Per Share growth as Berkshire's headline metric for 53 consecutive years from 1965 to 2018. This guide walks Indian retail investors through the formula, the four diagnostic lenses, and uses Titan Biotech FY25 audited numbers as an educational illustration of disciplined long-term equity compounding.
May 2, 2026
Infographic showing four blocks labeled Lucky (gray), Disciplined Investor (green), Confused (light gray), Bias-Trapped (orange) under The Lollapalooza Effect.

The Lollapalooza Effect: Charlie Munger’s 1995 Harvard Doctrine on Multiplicative Forces

Charlie Munger's 1995 Harvard speech introduced the Lollapalooza Effect: when multiple forces line up in the same direction, the outcome is multiplicative, not additive. Eight audited Titan Biotech FY25 disciplines illustrate the positive mirror-image.
May 1, 2026
Title 'Action Bias' with a subtitle; four-color grid showing outcomes: Lucky and Confused on gray left, Disciplined Investor and Bias-Trapped on green/orange right.

Action Bias: Bar-Eli et al.’s 2007 Goalkeeper Study and Why Indian Investors’ Compulsion to ‘Do Something’ Destroys Long-Term Returns

Action bias — the compulsion to act when inaction is statistically superior — is the most expensive behavioural mistake in Indian retail investing. Bar-Eli et al. (2007), the SEBI F&O loss data, and Titan Biotech FY25's audited capital-allocation cadence frame the behavioural template every long-term investor needs.
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