Investment is a Process, Returns an Outcome

We Create Wealth, Not Profits

Measured Moves for Meaningful Returns

Bulwark Advisors is a Young ‘Fee-Only’ SEBI Registered Investment Advisory Firm (Registration No: INA000016764). We strive to achieve superior risk-adjusted returns focusing on sustainability and longevity of returns. Risk to us is our clients not able to achieve their financial goals. In short, we intend to be a trusted partner to our clients with a strong focus on margin of safety.

Key Principles

Buy good businesses with strong margin of safety

We have a robust stock / MF selection methodology where we are trying to reduce Type-1 errors (avoiding bad investments through our framework)

Do not over diversify - our goal is to stick to a portfolio of 10-20 stocks

We believe 10-20 stocks and 4-6 MF schemes is an ideal portfolio diversification as there is no incremental benefit of any diversification over 20 stocks / 6 MF schemes while anything below 10 stocks / 4 MF schemes exposes the portfolio to undue company / scheme specific risks

Always rely on investing frameworks, avoid behavioral biases

Greed & Fear are the biggest enemies of investments and we strive to stay away from them through our frameworks and making the best effort to keep emotions away from our investment process

Be prepared for 50% drawdowns under worst case scenario

Correction is a second nature of markets and in any given year, there is a high probability of 50% drawdowns. However, over the longer-term (>7 years), probability of >10% drawdown is also negligible

Don’t get attached to your portfolio, exit is as important as entry

We are long-term holders of our stock / MF portfolios and do not believe in churning. However, we are not averse to exit and will liquidate our investments when our long-term view undergoes a change. We will also consider an exit if we find a better alternative.

Perform better than average for above average periods

Note no MF scheme ranks the best scheme for more than two consecutive years. We are not striving to be the best money manager every year but rather perform consistently better than average over long-periods of time.

Filtration:

Because not all stocks deserve a spot in your portfolio

Investing is a day job –
delegate it to a sound advisor

This is where Bulwark Advisors pitch in.

Learn More

Our Services

Equity Advisory

We have curated bottom-up research based 15-stock portfolio with a long-term view keeping portfolio churn to a minimum. We treat ourselves as owners of these businesses and do not intend to sell our investments unless our investment view on the company undergoes a change permanently. The focus is on longevity and sustainability of returns rather than quantum of returns.

Mutual Funds Advisory

We have selected top 3 MF schemes in each of the category like Liquid, Balanced Advantage, Large-Cap, Mid-Cap and Small-Cap. We do not change our MF recommendation until the scheme objective, fund manager, top companies undergo a material change. The focus is on longevity and sustainability of returns rather than quantum of returns.

Financial Planning

We help our clients with comprehensive financial planning as well helping them achieve their financial goals keeping the risk profile and adequate margin of safety in mind. We also do regular overview of your financial plan and rebalance the asset allocation as and when required.

Meet Varun Ginodia

Varun Ginodia, CFA has close to two decades of equity research experience covering wide variety of geographies like India, China and Latin America and across sectors like infrastructure, industrials, capital goods, transportation, and real estate.

He has spent 12 years of his career at J.P. Morgan and 3 years at Ambit Capital. Some of the prominent companies under his coverage included the likes of L&T, Indigo, ABB, Siemens, Thermax, Cummins and many more.

He was consistently recognized by clients in various polls like Institutional Investor (II) and Asia Money. He has consistently featured in media articles as well like Mint, FlightGlobal and Bloomberg Quint.

He started Bulwark Advisors in Mar, 2022. He has a penchant for bottom-up research and is an avid reader. He has done his MBA from JBIMS and is also a CFA charterholder.

Our Services