Profiting from Defence & Aerospace in this Age of Rage
As a bipolar world reorients itself around two superpowers – USA and China – global spending on arms, fighter jets, drones and commercial aircraft is growing annually at double digits in $ terms. Order books in Europe & America are already loaded with a decade’s worth of orders. Our Global team has made several investments […]
Do You Own the World’s Most Powerful Tech Company?
There is a 90% probability that you are reading this material thanks to the electronic circuits created by a uniquely powerful tech hardware firm based in a small town in Holland. With gross profit margins more than 40% sustained over several decades, this Dutch company is protected by a series of almost invincible moats. By […]
How Can you Profit from India’s Luxury Boom?
With the number of Indians earning more than Rs 1 crore per annum up 6x in the past decade and with the nation accounting for more than 10% of the world’s billionaires (3x the country’s share of world GDP), we are the midst of a boom in ultra-luxury spending in India. The companies benefiting from […]
RBI’s Report Flags Canaries in the Coalmine
Whilst India’s net household financial savings have improved in FY25, RBI’s latest Financial Stability Report (FSR) explains why the situation continues to deteriorate when it comes to household debt. The RBI’s report points to: Increased leverage of households, specifically for the purpose of consumption and not creation of assets; and Higher write-offs and rising slippages for private banks and NBFCs respectively. […]
Three Types of Investments Not Available in India
US+Canada and Developed Europe account of 51% and 14% respectively of the world’s stockmarket capitalisation of $151 trillion. In contrast, India account for a mere 3.5% of the world’s market cap. Naturally therefore there are several different types of companies which are available for investment in the developed markets which are, as yet, not available […]
Four Mega Reforms Which Opened up Global Investing for Indians
Whilst the US stockmarket has been a mega wealth-creator for the past 15 years, until 2 years ago it was out of our reach as a range of legal & tax issues made it impractical for Indians to invest a big chunk of their networth abroad. However, 4 blockbuster reforms changed all of that. Investing […]
The Inevitability of Rupee Depreciation and How You Can Benefit from it
The Rupee loses approximately 40% of its value every decade. As a result, after paying taxes, you have less than a third of your income left in hand to finance your daily expenses and your long-term goals (like children’s education, retirement). However, it does not have to be like this. You can compound your wealth […]
What can we learn from the first investor to diversify globally?
“He taught us that in order to find the best investment opportunities, you must open your mind to all possibilities around the world.” – Mark Mobius on his mentor, Sir John Templeton Sir John Templeton (Source: John Templeton Foundation) Our brain’s craving for dopamine makes diversification really hard. If you have made money on an […]
What we learnt from investing in Brad Jacobs’ latest venture, QXO?
I hadn’t heard of Brad Jacobs until Marcellus’ Global Compounders team invested in his latest NYSE-listed venture, QXO. I then learnt that Mr Jacobs has created EIGHT multi-billion dollar businesses in run-of-the-mill industries i.e. he’s not your typical tech mogul doing disruptive things. Six of the eight companies Mr Jacobs has created are publicly traded: […]
The Long Awaited Policy Response is Here
The employment, wages and consumption slowdown that has played out in India post-Covid has now been recognised by India’s policymakers. Whilst their policy response has been substantive (especially with regards to boosting consumption, the mainstay of India’s economic growth), the structural issue of helping middle class India deal with a massive labour market transition – […]
India’s 5-layered Consumer Stimulus; More Needed
Summary: After a five-year flirtation with boosting public capex, the Government of India is now focusing on the main engine of India’s economic growth: Consumption. The last 6 months have seen the announcement of a 5-layered boost for domestic consumption including the keenly awaited GST cuts. Cumulatively, these stimuli added up to 1.8% of GDP […]
White Collar Jobs Growth & Wage Growth: Twin Drivers of India’s Slowdown
From Diwali 2023 onwards, Indian companies’ earnings growth has decelerated at a rapid rate. Underpinning this deceleration is a sharp conk-off in consumption growth, long the mainstay of the Indian economy. Key drivers of this consumption downturn are a sharp deceleration in white collar job creation alongside a reduction in real wages for white collar […]
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