I Was the Homeland Security Adviser to Trump. We’re Being Hacked.
As Moderna’s vaccine joins the Pfizer one to have received approval in the US building up the good news in the run up to the holidays, the major negative story breaking in the world of geo-politics is the massive hack on networks of both public and private organisations across the world, ranging from the US […]
Why fair play pays
Nice guys finish last, is a belief held by many in competitive fields such as politics, business or even sport but more so when it comes to leadership – ability to evoke fear and get things done is popularly considered effective. The Bartleby column of The Economist features a new book, “The Art of Fairness” […]
U.S. Financial Reporting Is Stuck in the 20th Century
Much has been written about the death of value investing as it was known historically i.e, buying stocks at low PE or PB multiples. Increasingly the debate has moved to value investing still works but simply not based on reported earnings and book value, both of which fail to capture the real assets and profits […]
How Science Beat the Virus, And What it Lost in the Process
Ed Yong has to be right up there among the best Covid-19 journalists for his thoroughly well researched and balanced pieces through the pandemic, written in a way that most of us could understand with limited knowledge of the scientific aspects of the subject. In this summary sort of a piece for The Atlantic, Ed […]
The Art of Building the Impossible
This piece from the New Yorker profiling the work of New York City’s most celebrated carpenter, Mark Ellison is very interesting at many different levels. Just as the kings of Renaissance Italy sponsored the work of legends like Leonardo Da Vinci and Michaelangelo, the modern day kings of the free market – many of whom […]
The Glorious Legacy of Dilip Kumar
In the first 10-15 years after Independence, a troika of male stars ruled Hindi Cinema, namely, Dev Anand, Raj Kapoor and Dilip Kumar. For many people in our parents’ generation, for reasons our generation never fully understood, Dilip Kumar was the colossus, the first true Bollywood superstar, the original ‘King Khan’. One way to measure […]
Covid-19 and market share gains for the Kings of Capital
Ahead of the Covid-19 related NPAs being made public in the next few months, we first try and simplify the complexity created by the moratorium offered to borrowers, standstill asset classification for lenders and the Supreme Court order on not recognizing NPAs. We further illustrate how the lenders in the Kings of Capital portfolio are […]
Astad Deboo assimilated many forms to create a new language of contemporary dance in India
As the author begins “This is a year of obituaries. And now Astad Deboo is also gone”. Astad Deboo, often referred to as the pioneer of modern dance in India, passed away earlier this week at the age of 73. This piece brings about his contribution to Indian art and the struggles on the way. Deboo, trained […]
Michael Mauboussin: Why Companies Die
The most common pushback we receive from potential investors is that stocks in our portfolio trade at high PE multiples. Our response has been that given the value of a company lies in its cashflows to perpetuity, companies with high longevity of these cashflows indeed have very high intrinsic values – (see our newsletter). In this […]
Everything We’ve Learned About Modern Economic Theory Is Wrong
Economists have been under attack as a profession collectively not least for their failures in predicting or explaining some of the economic events or even the divide over what’s now being referred to as Modern Monetary Theory. And often the criticism seems to come from the field of basic sciences, such as physics. One such theoretical […]
All stars
The digital age characterised by our ability to capture and process vast amounts of data for decision making is helping humanity progress in a multitude of fields. One such area is ‘Complexity science’ – the study of complex systems with several dynamic individual parts and the interaction between them to produce a collective non-linear outcome, […]
The Donut King who went full circle – from rags to riches, twice
We all love to read about linear narratives of zeroes who become heroes. We also love to read about turnaround stories – heroes who fell from grace, picked themselves up and rose again. But until we came across the story Ted Ngoy, a Cambodian refugee to the US, we had never heard about a life […]
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