On Closure of Ayush Agrawal Research and Way Forward

14h August 2025

Hello Friends,

As most of you are already aware, I was planning to transition from a full time Research Analyst (RA) to a Part-Time RA.

I had planned to keep my license as a part time Research Analyst and issue free research via this blog. For the same, I went and met officials at BSE and got the entire process whereby I would just need to submit an NOC and I could transition to a Part-Time Research Analyst.

I spent time as an investor in Indian Equities, as a Mutual Fund Distributor, working for a Fintech, and now last two years as a Research Analyst.

My formal education has also been in this field with completing a PGP in Equity Research from NISM and an FMVA so what I am about to say to you may seem illogical.

I now believe that one can never truly be both an exceptional investor and an analyst. Those who are able to play both these parts are truly exceptional people.

I am average, and not exceptional.

Hence, I have decided to wear only one cap now. I would be going back to being an investor in Indian Equities.

When it comes to wealth creation, with enough hard work and just a little bit of luck, massive fortunes can be made in Indian Capital Markets.

What happens most of the time is we get stuck in the past, which today does not exist, and we ruin our chances of getting winners in the future due to this.

If we are not stuck in the past, we lose confidence in the markets due to mistakes we have made as investors.

We rely too much on our memories of the past losses which are on steroids fueled by our emotions. And most of these memories may also not be correct.

I am now planning to rewrite my story in markets, not as an analyst, but as an investor over the next two decades and starting afresh.

I’ll keep showing up at events, sitting in on company con-calls, and sharpening my skills in investing and trading.

Even if I am investing now very small amounts in stocks, someday I hope to generate massive fortunes.

An investor can and should always be an optimist.

I do not plan advising on public money now till the time I am in markets. Henceforth, my investments would be my connections to markets.

I am very thankful that I took the time to complete a PGP as a Research Analyst from NISM experienced what it was like to be a research analyst and ran a desk for two years. Everything helps and adds up in the long scheme of things.

I earlier aspired to among the best advisors and analysts in India and wanted name, fame and recognition above all else. Today, I just want to generate a decent CAGR on my personal portfolio over the next 15-20 years, hoping, I survive that long and keep in good health.

Every post here-on would be a journal entry in my investing diary.

All of you are welcome to follow along.

Rgds,

Ayush Agrawal