Those interested can join.

Rgds,

Ayush

Join Here

A truck rumbles past, and I think about the steering column doing its invisible work — engineered by a company I own that keeps India’s heavy vehicles on the road. Down the street, I walk into a retail store and the shelves, racks, display units, even the mannequins — all designed, manufactured and installed by a company in my portfolio.

The chips packet in my bag is wrapped in a polymer film made by a company I own. The TMT bars rising at the construction site across the road came from a steel manufacturer in my demat. The copper wires inside that building’s electrical conduits were recycled and redrawn by a company I’m a part-owner of.

I look at India’s solar panels along the highway and o top of my own house and think of two companies I hold: one that manufactures the modules, and another that actually installs them. Then I think of the power cables carrying that electricity across the countryside. Made by yet another company in my portfolio. And the precision turbine components inside the power plants generating that electricity — machined to micron tolerances by a company I own shares in.

At lunch I tap an app, and food arrives in minutes — a platform I’m a shareholder in that has restructured how an entire country eats. A song plays while I wait — from a catalogue owned by a music label I hold shares in, one whose songs have played at a billion Indian weddings.

At offices, engineering drawings are being done on software built by a design-services firm I own. The motors humming in factories were made by a power and industrial systems giant in my portfolio. The heavy boilers in the refinery, in which I hold shares.

Evening. My mother applies an Ayurvedic cream from a brand that disrupted FMCG — I own part of that disruption. The cooking oil on the stove was pressed by a company in my portfolio that also produces the ethanol now blended into our fuel.

At the petrol pump, ethanol-blended fuel — my distillery company’s contribution to India’s energy transition.

As I imagine a naval dockyard — ships being built by a defence shipbuilder I partly own. And somewhere in a defence lab, battlefield electronics and unmanned systems being developed by a small but critical aerospace and defence firm I hold shares in. And the CNC machines that cut the precision parts for all of it? Made by a manufacturer I own equity in.

At the cinema in the evening — a multiplex chain I’m a shareholder in — the lights dimmed, and for two hours, a full house cheers its breath together.

Throughout the day, I don’t get a feeling to check a single price.

I didn’t need to. I see my portfolio everywhere I look — in the roads, the walls, the wires, the food, the music, the machines, the ships, and the light in a village that used to know only darkness.

That is the joy of being a shareholder.

Ayush

Little did I know when I planned on starting a forum to help investors that I would be closing it before it even began.

The world is having a conversation about what money means, who holds power, and how the rules of the game are being rewritten in real time.

And in moments like this, I’ve made a deliberate choice: to step back from social media entirely in an attempt to improve my Signal to Noise Ratio.

While headlines obsess over daily price swings, the most sophisticated institutional actors in the world have been telegraphing their assessment through their reserve allocation decisions.

For example, Central banks accumulated 297 tonnes of gold through November 2025, with projections for 2026 settling around 755 tonnes. To context, pre-2022 averages were 400-500 tonnes annually. The current pace represents a 50-90% structural increase above historical norms.

- Ursula Von der Leyen at Davos

When the largest reserve managers in the world quietly but persistently rotate into hard assets despite record prices, they are signaling something far more consequential than a bullish technical setup.

They are expressing a loss of confidence in the durability of existing monetary arrangements.

Warren Buffett once observed that “the stock market is a device to transfer money from the impatient to the patient”. This principle becomes especially potent during macro inflections.

Most financial market information we see on social media, discuss in communities is noise, not signal.

Signal consists of relevant, actionable information—fundamentals, secular macro trends, long-term data patterns that persist beyond individual events or sentiment.​

Noise comprises market rumors, speculation, and media-amplified sentiments that have minimal bearing on long-term outcomes.​

The Bretton Woods dollar order, NATO cohesion, globalized supply chains, consensus monetary policy—all are experiencing unprecedented times.

What unfolds over the next 12-36 is uncertain.

The policy decisions emerging from Washington, Brussels, Beijing, and New Delhi carry far greater significance than routine economic management, as they will shape structural outcomes beyond conventional business cycles.

This is why I’m stepping back from the noise.

Not because the outcome doesn’t matter. But because it matters too much to let social media distract me.

I do not want to be susceptible to social media influence on my investment decisions anymore. Rather than going on herd behavior, I am happy acting as a dead body till the rest of my days as an RA and as a private investor in markets.

Rather than being a part of 20 groups and communities, it becomes important to develop confidence on your own thesis.

There are some wonderful Substacks out there

• InvestKaroIndia

• SOIC

• TechnoFunda Substack

• Sekhar’s Substack

• Himanshu’s Substack

• Substacks by Zerodha

They will provide a lot of quality content to interested readers.

I have wasted 14 years of my life trying to help investors and my fellow friends. I want to be a little selfish for the last 12-15 years of my life to try to make some returns and do justice by the limited clients I have till they chose to be my clients.

It has been a pleasure writing this blog…

Ayush Agrawal

Update 6th February 2026

Ayush Agrawal Research is winding down operations. I am no longer taking fresh clients. All prior client commitments have been honored. It was a pleasure while it lasted.