Marcellus Portfolio Updates & Insights – June 2026
marcellus.in From Our CIO’s Desk What Goes into the Making of a Data Center? Two global headlines have dominated the financial landscape in recent times: Alphabet is executing a record-breaking $85 billion equity raise to fund its AI infrastructure and global compute footprint. SpaceX is setting the stage for the largest IPO ever recorded, […]
Nonstop FII Selling Points to 3 Big Challenges for Your Wealth
Accustomed to seeing current account deficits, India will now have to get used to capital account deficits as well, as Indian promoters rush to invest abroad. This unique twin deficit problem will not only create sustained pressure on the INR, but it will also expose Indian retail investors, who ploughed over $100bn in the post-Covid […]
Are Equities Really the Best Way to Compound Wealth in the Long Run?
A simple equal weighted portfolio of 5 widely available assets (rebalanced annually) gives you returns similar to Indian equities with risk which is nearly 1/4th that of the Nifty50. This allows you to compound your wealth at a healthy rate while allowing you to sleep peacefully at night, both, during heart stopping years like 2008 (when the […]
Short read: Debugging: Google requests permission to release 32m mosquitoes in California and Florida
Silicon Valley gets a lot of flak for monopolising businesses and profit mongering. But they do use their technological prowess to solve some of humanity’s pressing problems. Google stands out among them. Its’ parent Alphabet has invested in several initiatives, most notably its AI subsidiary Deepmind which came up with protein structure prediction which opens […]
Short read: An Overlooked AI Trade…
Praetorian Capital is a hedge fund run by Harris Kupperman, who also writes this wonderful investment blog called Kuppy’s Korner. His blog titled ‘Global crossing reborn’ went viral last year as he likened the current hyperscalers’ mad rush to spending hundreds of billions on AI data centers to the spend on telecom and networking infrastructure […]
Short read: How lovingly curated independent bookstores are helping reading culture grow in India
You can judge a city by its bookshops. The lack of bookshops in East Delhi or suburban Mumbai speaks of an urban landscape where people are so engrossed in day-to-day survival that visiting a bookshop is a luxury they can’t afford. On the other hand, the multitude of excellent bookshops in central Bangalore speaks of […]
Long read: How Metrics Make Us Miserable
“What cannot be measured cannot be managed or improved upon” is a common mantra we hear often, not just in the professional context but also among fitness enthusiasts with wearables measuring everything from glycaemic index to sleep quality. But there’s also the good old Goodhart’s Law which states that “When a measure becomes a target, […]
Long read: Being creative requires taking risks
This is a superb essay on how the normal course of life wrecks our creativity and with that our chances of doing something useful in life. The author, Henrik Karlsson, used to be a programmer and then worked in an art gallery. Now he & his wife Johanna live “on a windswept island in the […]
Long read: In Delhi’s Scorching Heat, Its Poorest Women Are Back To The Chulha
If you haven’t visited Delhi in April-May in recent years, you have missed out on experiencing 50 degree Celsius. While office bound folks like us are reduced to little more than panting dogs by Delhi’s summer heat, there are millions of individuals across north India who have bear even more intense heat combined with smoke […]
What Goes into the Making of a Data Center?
An AI datacentre has 6 components: compute (the GPUs that do the thinking), power infrastructure (transformers, substations, backup generators), cooling systems (liquid cooling is now mandatory), networking (the high-speed pipes connecting thousands of chips), storage (where data and models live), and the physical building itself. Every single one of these categories is simultaneously in short […]
Short read: A Cold Shower for AI Mania
Former RBI governor and professor at University of Chicago, Dr Raghuram Rajan weighs in on the AI mania in this piece for the Project Syndicate. Whilst he begins by acknowledging with the power of AI and the inevitably of its ubiquity, he expresses worry about the massive amounts of debt being used to build AI […]
Short read: Why AI can’t replace human writing—it’s about exercising one’s mind and that can’t be outsourced
This year’s Commonwealth short story prize ran into rough weather as it was found out that its winning entry was likely created with heavy use of AI. Whilst many of us routinely use AI to write memos at work and elsewhere, here is Nandini Nair putting the idea of writing in its true context. “What […]
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