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.
May 13, 2026
Warren Buffett distilled Aesop into three questions every Indian investor must answer before laying out a single rupee — and Titan Biotech FY25 has audited answers to all three.
May 12, 2026
Leon Festinger's 1957 theory of cognitive dissonance explains why Indian investors hold losing positions rather than closing them: the brain resolves contradictory beliefs by re-narrating the thesis rather than reversing the action. This piece traces the original Stanford research, links it to SEBI/NSE retail-investor data, sets out a six-step procedural defence, and uses Titan Biotech Ltd (BSE: 524717) FY25 audited numbers — 81% borrowings reduction, 103% CFO/Operating Profit, ₹4.56 Cr aggregate director remuneration vs ₹22 Cr PAT, 14 board meetings under an independent chair — as an illustrative case of anti-dissonance corporate disclosure architecture. Educational only; no buy/sell/hold view.
May 12, 2026
Companies Act 2013 Section 197 caps managerial pay at 11% of PAT. Learn how to read this under-used governance ratio in 15 minutes — illustrated by Titan Biotech FY25's ~₹4.56 Cr director remuneration alongside 14 board meetings, an independent chair, ~103% CFO/Operating Profit and a ~29% ten-year PAT CAGR.
May 12, 2026
Why time arbitrage — the structural edge of holding quality businesses for five to ten years while institutional money is forced to optimise for the next 90 days — is the rarest source of edge in Indian value investing, illustrated by Titan Biotech's FY25 audited numbers.