This discretionary equity strategy aims to achieve maximising returns with following investment approach; a) Take concentrated bets in individual stocks rather than focussing on creating a diversified portfolio. Given that we are looking with growth and value characteristics, its very difficult to identify such companies in large nos. Consequently, are portfolios are largely concentrated with 20?' 25 stocks with top 10 stocks accounting for 60% - 70% of the portfolio b) Invest with margin of safety and taking a long-term call / invest in out of flavour sector