marcellus.in From Our CIO’s Desk How Does Kings of Capital Beat the Benchmark with Boring, Well-Managed Companies? Over the past 1, 2, and 3-year trailing periods, our financial services strategy—the Kings of Capital Portfolio (KCP)—has outperformed its benchmark. Our investment process avoids chasing short-term market momentum, focusing instead on well-managed businesses that allocate capital […]
For half a century, India has struggled to export manufactured goods. That is now changing; merchandise exports in the first four months of FY27 are up 17% on last year and July alone set a record at US$44.2bn. There are four things that have swung in India’s favour: the rupee is at its cheapest in […]
In “The Art of Enduring” we applied a set of brutal filters (see chart below) to identity the 51 best franchises in the BSE500. Reassuringly, 5 of the 7 companies from our 2016 bestseller ‘The Unusual Billionaires’ made the cut. So did 5 more franchises around whom we built the “The Art of Enduring” and […]
A few years ago, the idea of capitalism without capital was trending as the world’s largest companies had no tangible assets but ran on intellectual property, network effects, brand, etc. Now, the same companies are spending on physical assets like never before. And it is not just semiconductors. With GPUs turning out to be energy […]
For a decade, India has prided itself for the low-cost space missions launched and successfully completed by ISRO. Most famously, ISRO’s 2014 Mars mission cost less than the Hollywood space adventure film Gravity. In that context a new report is bound to create a flutter. A peer-reviewed study by economists Alessio Terzi (Cambridge) and Francesco […]
Very often you meet someone who is always chasing a moving life goal. An SUV after having bought a sedan. A house with an additional room. Or a higher retirement corpus after having accumulated one large enough. In this interesting essay, Kevin Kelly a founding editor of Wired and the writer of books like “1,000 […]
We have featured pieces on the “enshittification” of social media platforms with advertising slop degrading the user experience. Now AI is only accelerating it. There is a rapid increase in written content on LinkedIn that most of us can recognise as AI generated. Derek Thompson interviews Max Spero, the founder of Pangram, the most used […]
We remember when, not a long time ago, NanoBanana became available and created a buzz in Marcellus, especially with one of our colleagues who helps in refining our written content to by adding visually appealing images. The not-so-creatively-oriented colleagues of ours have also become experts in visual storytelling as progressive AI models have become better […]
Many globally popular and successful companies and brands have struggled to adapt and adjust to India. Deploying a playbook that has worked elsewhere in the world is a surefire recipe for failure here. Kellogg’s is a classic example of a brand that struggled for years to get Indians to adopt Western breakfast habits. A McDonald’s […]
Borrowing used to be a last resort, taken on reluctantly and repaid as fast as possible. For a large part of India’s Gen Z, it has quietly become the default way to live. Five forces explain the shift: Digitisation has removed the discomfort of paying, so spending feels painless. “Present bias” lets todays self-borrow freely […]
Our Financial Services Portfolio has beaten the benchmark over the past 1, 2 and 3 years. Now as the interest rate cycle turns upwards, the odds are high that Kings of Capital will outperform by an even greater margin. To invest with us in KCP, click on kcp.marcellus.in Source: Marcellus Investment Managers; Marcellus Performance Data shown […]
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 […]
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