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Manish Goel - SEBI Registered Investment Adviser

About Manish Goel

SEBI Registered Investment Adviser • Chartered Accountant

422 Articles Published

Manish Goel is a Chartered Accountant and the Founder of Multibagger Securities Research & Advisory Pvt. Ltd. (SEBI Registered Investment Adviser, INA100007736). 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 8, 2026
Dark blue hero with the title 'The Framing Effect', subtitle 'Tversky & Kahneman’s 1981 'Asian Disease Problem'' and a 2x2 color grid labeled Lucky, DISCIPLINED INVESTOR, Confused, BIAS-TRAPPED.

The Framing Effect: Tversky & Kahneman’s 1981 ‘Asian Disease Problem’

Tversky & Kahneman's 1981 Asian Disease Problem proved that human preferences reverse under arithmetically identical framings. Indian retail data confirms the effect at industrial scale. Titan Biotech (BSE: 524717) FY25 disclosures publish nearly every material fact in two frames simultaneously — a corporate analogue of the dual-frame discipline the great investors have used for ninety years.
May 8, 2026
Dark blue page with the title 'Export Revenue Mix' and a horizontal bar chart of fiscal years FY20–FY25; values are 28, 26, 22, 18, 14, 11, with FY25 shown in green.

Export Revenue Mix: The Geographic Diversification Test for Indian Small-Caps

Export Revenue Mix isn't just a percentage — it's a forensic test for customer concentration, currency hedging, and pricing power against global benchmarks. Using Titan Biotech FY25's audited ~34.5% export share across 60+ countries as an educational illustration of disciplined geographic diversification.
May 7, 2026
Dark blue hero banner showing the headline “CWIP-to-Gross-Block Ratio” with a green italic subtitle; a circular multicolor donut chart labeled FY25 centered below the text; small “Multibagger Shares” heading at top left and a caption at bottom left reading “Multibagger Shares · SEBI IA · INA100007736”

CWIP-to-Gross-Block Ratio: The Forward-Looking Capex Pipeline Marker That Reveals Whether Indian Companies Are Building Their Future or Stuck With Stranded Assets

A forensic balance-sheet ratio every Indian long-term investor should master, illustrated with Titan Biotech FY25 audited markers (₹11 Cr CWIP, ₹57 Cr Gross Block, ₹3 Cr borrowings, 103% CFO/Operating Profit).
May 7, 2026
Chart: Opportunity Cost as Hurdle Rate by fiscal year FY20–FY25, with bars showing values 28, 26, 22, 18, 14 and a green FY25 bar at 11%.

Opportunity Cost as Hurdle Rate: Charlie Munger’s ‘Best Available Alternative’ Test

Charlie Munger's lifetime discipline: every rupee must beat the next-best alternative use, on a risk-adjusted basis. How Indian long-term investors apply the hurdle-rate test using the 10-year G-sec, and why Titan Biotech FY25's audited RoCE spread illustrates the discipline.
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