Track Record of Identifying Rare Wealth CreatorsTrack Record of Identifying Rare Wealth Creators
Manish Goel - SEBI Registered Investment Adviser

About Manish Goel

SEBI Registered Investment Adviser • Chartered Accountant

423 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.

April 20, 2026
Horizontal bar chart titled Segment Reporting showing yearly values from FY20 to FY25; FY25 bar is green with value 11, trend downward from 28 to 11.

Segment Reporting: When Management Uses Disclosure to Hide or Reveal the Best Business

Why serious investors should read segment notes to discover where the real business quality sits, and how Titan’s geographic split strengthens trust in the disclosure.
April 20, 2026
Hero header with title 'Owner Earnings' and subtitle 'The Buffett Adjustment That Reveals True Cash Profits' over a dark blue gradient background, plus a colorful donut chart labeled 'FY25 REINVESTED' centered below.

Owner Earnings: The Buffett Adjustment That Reveals True Cash Profits

Warren Buffett's 1986 owner-earnings formula adjusts reported net profit by adding back non-cash charges and subtracting maintenance capex and working-capital needs. Applied to four Indian businesses — Asian Paints, Pidilite, Nestlé India, and Titan Biotech — the arithmetic reveals very different cash-conversion profiles and gives retail investors a more honest lens than reported PAT alone.
April 19, 2026
Infographic: segment-wise revenue breakdown bar chart from FY20 to FY25, dark blue background, green highlight for FY25; values shown at bar ends (28, 26, 22, 18, 14, 11). Title reads 'Segment-Wise Revenue Breakdown' with subtitle italic text beneath.

Segment-Wise Revenue Breakdown

Titan Biotech disclosed only one primary operating segment in FY25, a quiet but powerful sign that the business remains easier to understand and monitor than many small-cap peers.
April 19, 2026
Hero header for a article titled 'Overconfidence Bias' with a subtitle about Indian traders; decorative blue background with green accents.

Overconfidence Bias: Why 93% of Indian F&O Traders Lose Money — How Barber & Odean’s Landmark Research, Validated by SEBI’s 2024 Evidence, Explains the Zerodha-Groww Revolution and the Anti-Overconfidence Checklist Every Serious Long-Term Investor Must Adopt

Barber & Odean's Nobel-adjacent 2000 study, validated by SEBI's 2024 evidence that ~93% of Indian retail F&O traders lose money, explains the meta-bias that makes every other cognitive error worse — and the 8-question pre-trade checklist that disarms it.
+91-7380122211