Ajit Dayal is a noted value investor, founder of Quantum Mutual Fund and Quantum Advisors. Following notes are from an interaction with him on 24.09.2017. Now looking back , I realised how right and prophetic he was about the state of India's economy, financial markets and politics in the country. Think Risk and not return under present circumstances, reminded us of 2008 crisis time and again Demonetisation was a bloody bad idea and a self goal by the Govt GST in its present form is bad. Octroi part is good. 28% GST on hotel rooms in Goa will kill its economy. Govt is hellbent on winning elections. India has experienced the maximum GDP growth whenever there is a coalition govt, whereas, India has experienced the minimum GDP growth whenever there is single party or strong national govt. He has data to prove this point. However he could not pinpoint the real reason, his best guess is that in coalition people are busy fighting and don’t have time to fiddle with the e...