Manish Goel

Manish Goel - SEBI Registered Research Analyst

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.

May 14, 2026
Graham Number bar chart from FY20 to FY25 showing values 38, 32, 26, 22, 19, 16 with a dark blue background and green highlight for FY25.

Graham Number: Benjamin Graham 1949 Intrinsic-Value Formula √(22.5 × EPS × BVPS)

Benjamin Graham 1949 intrinsic-value formula explained. How Indian investors should compute and read √(22.5 × EPS × BVPS), Graham seven defensive screens, and Titan Biotech FY25 audited markers as a positive illustration. Educational only.
May 14, 2026
Hero header: title 'Authority Bias' with subtitle, plus a 2x2 color grid: top-left 'Lucky' (gray), top-right 'DISCIPLINED INVESTOR' (green), bottom-left 'Confused' (light gray), bottom-right 'BIAS-TRAPPED' (orange).

Authority Bias: Stanley Milgram’s 1961 Yale Obedience Experiment and Why Indian Investors Hand Their Wealth to TV Stock Pickers

Stanley Milgram’s 1961 Yale obedience study found 65% of ordinary people will electrocute a stranger because a man in a lab coat says so. The same wiring drives Indian investors to obey TV pundits and stock tipsters — and Titan Biotech’s FY25 audited numbers show what arithmetic-led investing looks like instead.
May 13, 2026
Hero section with dark blue background and the title 'Hyperbolic Discounting' plus subtitle; below, a four-block infographic labeled Lucky, DISCIPLINED INVESTOR, Confused, and BIAS-TRAPPED in gray, green, light gray, and orange.

Hyperbolic Discounting: Strotz (1956) & Laibson’s (1997) Bias Behind Why Indian SIP Investors Quit at Month 21

Strotz 1956 and Laibson 1997 formalised the bias behind 74% SIP discontinuance ratios; Titan Biotech FY25 numbers illustrate the corporate mirror image.
May 13, 2026
Hero header: 'Chairperson Independence' with a green milestone timeline from FY21 to FY25 (Complaince to All boxes).

Chairperson Independence: SEBI LODR Regulation 17(1B) and Companies Act Section 149(6) Test

Chairperson Independence is the apex governance test in any Indian listed company. SEBI LODR Reg 17(1B), Companies Act Section 149(6), Schedule IV, read together across five graduated layers. Titan Biotech FY25 — voluntary best-practice compliance: 14 board meetings, Independent Non-Executive Chair, ~₹3 Cr borrowings, 103% CFO/Operating-Profit ratio.
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