Marcellus Insights

Consistent Compounders

Short read: How China Won the Iran War

A recent survey by Pew Research made headlines for it showed that a significantly larger share of people across the world now have a more favourable opinion of China than the US compared to a similar survey from three years ago. Nobel prize winning American economist, Paul Krugman writes about how America has ended up […]

Consistent Compounders

Short read: Let the Bond Market Speak

The burgeoning US government budget deficit problem seems to be coming to a head. Whilst the bond market has been making its point with rising yields, ironically, it is the US government’s reaction to it that looks likely to trigger a crisis. First, its unusual intervention in the currency markets earlier this month, propping up […]

Consistent Compounders

Short read: A day in the life of Haryana’s gau rakshaks

“Gau rakshaks” have probably existed for decades or even centuries. But it is only in the last decade or so that we frequently find them in news reports and even headlines. So, who is a “gau rakshak” and what do they do? Samridhi Tewari of ThePrint embedded with a group of cow-protection vigilantes in Faridabad […]

Consistent Compounders

Long read: Into the griftoverse

A combination of an uncertain future and the ease of social media has allowed new age cults/cultists to develop online, many with the sole interest of monetising their following one way or the other. The author of this Substack post, Erin Nystrom, refers to them as the ‘griftoverse’ – a world where grifters or scammers […]

Consistent Compounders

Long read: Why 4 In 10 Indian Children Go To Private Schools

We have written extensively of how the fading of the nation state due to its increasing inability to collect taxes and control the commanding heights of the economy (which are now in American and Chinese control) have resulted in the state pulling back from the provision of essential public services (click here to read our […]

Consistent Compounders

Long read: Democracy v the machine — the warnings that were ignored

Jill Lepore is a Pulitzer Prize winning American historian, journalist (at the New Yorker) and academic (professor at Harvard). She writes about American history, law, literature, and politics and The Guardian has published a superb essay adapted from her new book “The Rise and Fall of the Artificial State”. The essay is worth reading in […]

Consistent Compounders

Investing in boring, old-fashioned companies that allocate capital sensibly

Like our favourite cricketer, Rahul Dravid, the 7 companies decoded by us a decade ago in ‘The Unusual Billionaires’ delivered market beating performance by focusing on 3 principles which are simple to understand but hard to deliver on: (a) stick to the core and expand only into adjacencies; (b) focus on deepening your existing moats; and (c) […]

Consistent Compounders

Later Marriage & Lower Fertility Signals the End of India’s Demographic Dividend

 At a very early stage in its development, India is tracing the same path that the richer economies did i.e., Indians are marrying later in life & having fewer children. Specifically, these shifts are taking place far more rapidly in the better educated, more employable parts of the Indian economy. As a result, the data […]

Consistent Compounders

Short read: Not all FDI is the same: The country must rejig what statistics capture to focus on the right kind

The sharp depreciation of the Indian rupee in recent times is attributed to an expanding current account deficit thanks to rise in oil and gold prices, two of India’s biggest imports. But it has historically been balanced by a capital account surplus – FPI and FDI inflows, which have worryingly disappeared. Whilst the former is […]

Consistent Compounders

Short read: LinkedIn is where everyone succeeds and nobody ever fails

Have you noticed how everyone on social media seems to be having exotic holidays that you somehow never manage yourself? Or that your spouse has never declared their love, or surprised you with a gift, quite the way the lucky ones on Instagram are by theirs? LinkedIn has become the corporate edition of the same […]

Consistent Compounders

Short read: Maharashtra’s Ladki Bahin — India’s biggest cash handout to women meets the auditor

Over the past few years, the surest way to win an Indian state election has been to deposit money straight into women’s bank accounts. Madhya Pradesh’s Ladli Behna scheme lit the fuse in 2023, and one state after another — cutting neatly across party lines — has followed with a localised version. Women now make […]

Consistent Compounders

Long read: The American Sports Plutocracy Is Bullshit

Billionaire population growth globally is at an all-time high. Whilst growing wealth inequality isn’t particularly great for society, many of the newly minted billionaires earned their stripes. Indeed, The Economist published an interesting piece on how for the first time, majority of billionaires have neither inherited their riches nor earned them primarily due to cronyism. […]

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