Manish Goel

About Manish Goel

SEBI Registered Research Analyst • Chartered Accountant

377 Articles Published

Manish Goel is a Chartered Accountant, SEBI Registered Research Analyst, and founder of Manish Goel PMS. 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.

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May 17, 2026

Infographic: The Klarman Doctrine title with a horizontal bar chart of FY20–FY25 values, ending with a green FY25 bar at 22.

The Klarman Doctrine: Seth Klarman’s 1991 ‘Margin of Safety’ Three-Pillar Architecture — Why Absolute Returns, Bottom-Up Bargain Hunting, and Risk Aversion Define the Real Value Investor’s Edge

Seth Klarman's 1991 'Margin of Safety' rebuilt value investing on three pillars: absolute returns, bottom-up bargain hunting, and risk aversion. How Titan Biotech FY25's audited numbers illustrate all three.

May 16, 2026

Infographic-style hero showing four investor mindsets: Lucky (left, gray), Confused (left, light gray), Disciplined Investor (right, green), and Bias-Trapped (right, orange).

Myopic Loss Aversion (Benartzi & Thaler 1995): Why Indian Retail Investors Sabotage Long-Term Returns by Checking Portfolios Too Often

Myopic Loss Aversion — Benartzi & Thaler's 1995 Nobel-grade explanation of the equity premium puzzle, applied to Indian retail investors, with Titan Biotech FY25 audited numbers as an anti-MLA corporate-cadence case study.

May 16, 2026

Hero header: Net Debt to EBITDA Ratio with a green accent 'Manish Goel Portfolio Management Service' and a subtitle line on a dark blue background.

Net Debt to EBITDA Ratio: The Single Solvency Test Credit Analysts Care About Most

Net Debt to EBITDA is the single ratio professional credit analysts use most when assessing survival odds. This educational deep-dive teaches how to read it, where retail investors misinterpret it, and how Titan Biotech (BSE: 524717) FY25 audited numbers illustrate a -0.75x net-cash fortress reading. Not a buy/sell recommendation.

May 16, 2026

Hero section with title 'Look-Through Earnings' over a dark blue gradient, subtitle text, and a centered multicolor donut chart labeled 'FY25 Reinvested'.

Look-Through Earnings: Warren Buffett’s 1990 Berkshire Letter Framework for Measuring Your True Portfolio Earnings

Warren Buffett's 1990 Berkshire letter introduced look-through earnings — dividends plus your proportional share of retained profits. Why this single number reveals what your portfolio truly earned, illustrated by Titan Biotech FY25's high-retention, low-debt capex discipline.