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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 5, 2026

Dark blue page with title 'Economic Goodwill' and green subtitle; below is a two-by-two color block diagram: top-left 'Trader' (gray), top-right 'COMPOUNDER' (green), bottom-left 'Drift' (light gray), bottom-right 'Speculator' (orange).

Economic Goodwill: Warren Buffett’s 1983 Berkshire Letter Appendix on the Real Source of Compounding

Buffett's 1983 appendix split goodwill into two: the accountant's residual on the balance sheet, and the inflation-resistant economic goodwill that compounds wealth. Titan Biotech FY25's high returns on a modest tangible base read like the second.

May 4, 2026

Header with the title 'The Gambler’s Fallacy and Hot-Hand Fallacy' and a four-panel color infographic showing Lucky, Confused, DISCIPLINED INVESTOR, and BIAS-TRAPPED beneath it.

The Gambler’s Fallacy and Hot-Hand Fallacy: Tversky, Kahneman & Gilovich on the Misperception of Random Sequences

Tversky-Kahneman 1971 and Gilovich-Vallone-Tversky 1985 established that humans systematically misread short random sequences. Indian NSE/SEBI behavioural data show retail investors compound the error. A counter-measure checklist plus an illustrative Titan Biotech FY25 case study of process-over-pattern corporate behaviour.

May 4, 2026

Infographic bar chart titled PEG Ratio: Growth-Adjusted Valuation by year, showing FY20 38 down to FY25 16, with FY25 bar highlighted in green.

PEG Ratio: Peter Lynch’s Growth-Adjusted Valuation Framework

Peter Lynch's Price-to-Earnings-to-Growth ratio reframes valuation: a high P/E may be cheap if growth is high, a low P/E may be a trap if growth is fading. Using Titan Biotech FY25 audited inputs (10-yr revenue CAGR ~15%, 10-yr PAT CAGR ~29%, CFO/Operating Profit ~103%) as a clean educational illustration.

May 4, 2026

Hero header announcing Walter Schloss’s 16 Factors with a two-by-two grid of panels labeled Trader, Compounder, Drift, and Speculator.

Walter Schloss’s 16 Factors: How Graham’s Quietest Disciple Beat the Market for 47 Years Without Ever Meeting Management

Walter Schloss compounded 16% for 47 years from a back office, with no MBA, no Bloomberg terminal, and no management visits. Seven of his 16 factors illustrated through Titan Biotech FY25's audited balance sheet.