Slowing Growth + Rising Risks = Quality Lenders finally Outperforming
Loan growth for the banking sector has slowed down to 12% YOY from a peak of 16% and slippages for the higher risk retail lending segments are up anywhere between 2x – 6x vs FY24 levels. The increase in NPAs is a result of: (i) oversupply of credit in the post- Covid retail lending frenzy, […]
Portfolio performance and update on Fundamentals – November 2024
Note: For all strategies except GCP, Performance data shown is net of fixed fees and expenses charged till September 30th, 2024 and is net of annual performance fees (Except for Little Champs Portfolio) charged for client accounts whose account anniversary/performance calculation date falls upto the last date of this performance period. Since, for Little Champs Portfolio, […]
The Brave New World of Middle-Class ‘Gigs’ in India
It seems clear that India has a couple of painful years ahead of it as it grapples with AI reducing the demand for labour in sectors which lie at the heart of middle-class income generation e.g., Financial Services, IT Services, Media and Manufacturing. However, it is also evident that technology is creating new jobs in […]
Short read: ‘Brain rot’: Oxford word of the year 2024 reflects ‘trivial’ use of social media
A couple of weeks ago, we featured a piece in The Atlantic which talked about how students even in elite colleges are struggling to read books. Nothing wrong in itself as today’s digital age presents plenty of alternatives to books to gain knowledge and insight. But the point being the struggle with focus required for […]
Short read: The Pursuit of Longevity
The science of ageing has progressed significantly over the past few decades. Not just delaying death but also improving the quality of life in old age. But like much else, there is a lot of misinformation about the science of ageing as well. What better than a book by a Nobel laureate to clear the […]
Short read: ‘Arrested’ via WhatsApp, elderly Sonipat couple coerced into hiding in hotel, duped of Rs 1.78 cr
A year ago, Marcellus was subjected to a nasty cybercrime attack orchestrated from the badlands surrounding the NCR. Whilst we were able to repulse the attack using the resources at our disposal, millions of others in India – especially older people – are not so lucky. The growing army of educated but unemployed men in […]
Long read: An interview with Javier Milei, Argentina’s president
The Argentinian economy has been a case study in macro-economics across most universities for being the only country in modern history to fall from rich to middle income status. Its current President Javier Milei, elected a year ago, has been on a rampage with radical reforms to curtail the role of the state and based […]
Long read: Handwriting but not typewriting leads to widespread brain connectivity: a high-density EEG study with implications for the classroom
At Marcellus, we have an ongoing debate between those who believe notes in meetings should be taken by handwriting vs those who believe typing notes into a tablet serves the same purpose. This piece of research two academics who teach at the Department of Psychology, Norwegian University of Science and Technology, Trondheim, Norway, supports those […]
Long read: What’s Next? It’s All About Trade Policy
Matt Turpin’s posts on Substack are viewed by the cognoscenti as essential reading on China. A fortnight ago, in the wake of Donald Trump’s victory, Mr Turpin opined on the coming phase in the Sino-American relationship/rivalry. Mr Turpin is not someone who minces his words. He believes that it is reasonably clear what will happen: […]
Short read: High valuations may challenge India’s 25-year lead in real returns
As an investor, one of the columns worth looking out for is that of Akash Prakash’s in the Business Standard. Akash founded and runs Amansa Capital, a successful investment management firm out of Singapore. He highlights a report from Deutsche Bank and brings out some interesting insights about long term returns in equities: Why starting […]
Short read: Chocolate makers stoke boom for Indian cocoa beans
Whilst the adverse impact of global warming on rainfall and cropping patterns in India is a matter of growing concern, it seems that there might a silver lining in all of this. As the price of cocoa beans rises, it is becoming increasingly viable – in fact, lucrative – to grow cocoa beans in India […]
Short read: Warren Buffett’s shareholder letter – an update on his philanthropy plan
Back in 2006, Warren Buffett made the ‘Giving Pledge’ committing to give away in charity 99% of his wealth during his lifetime or at death. Now, 94yrs old, Buffett wrote this letter to shareholders last week sharing his plan to execute this. But typical of Buffett’s letters, this one has its nuggets of wisdom: “…hugely […]
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