A great learning on conviction -

I remember analysing Goldiam international in Jan'23. That time, this co had 3 ace investors in its cap table which is quite rare. It included Ashish Kacholiya, Mukul Agarwal and Ramesh Damani. 

Goldiam is a leading player in lab grown diamonds. However, there were uncertainties on adoption of lab grown diamonds. 

Goldiam stock price touched peak of 200 in Nov'21 but it kept on falling for next 2 yrs and touched lows of 120-130 by Nov'23. During this phase, 2 ace investors exited - Ashish Kacholiya and Mukul Agarwal. However, Ramesh Damani kept his conviction. 

Fast forward today, the stock price of Goldiam is 400+

Mr Damani entered in Goldiam in Apr'19 at before split levels of Rs 85. Later, co spllited the share from FV of 10 to 2. So Mr Damani buying is ~17. So today, he is sitting on 25x returns. He could have sold it at much lower levels when stock underperformed for 2 yrs. But he kept his conviction.

Hats off to his conviction. What a master investors!