Is ESG investing in India practically feasible?
ESG assets under management in India have increased by four times in the last two years to touch Rs11,800 crore. Although a noble mission, practicing it is not easy. There are unique challenges in assessing compliance of the same by companies as well as in balancing the conflicts that routinely arise amongst the three aspects […]
Air India and the Maharajah Man
The sale of Air India (back) to the Tatas is likely to go down as an epic moment in India’s political economic history, partly because of the political will for the divestment of an asset as state entrenched as this one, but also the history of the airline itself, having been nationalised from the Tatas […]
time millionaires: meet the people pursuing the pleasure of leisure
The eternal debate of work vs leisure has attained greater proportions during the pandemic. The 3L&3S has featured enough debates around the optimal way to balance WFH with in-person attendance at work. At the one extreme are people who have found WFH too hectic given the blurring of lines between work and life. At the […]
Bill Miller 3Q 2021 Market Letter
As it is, the first question in a client pitch is our thoughts on how the market is likely to pan out in the near future. With the markets threatening to correct somewhat, it has occupied an even greater part of the conversation. In what is his last quarterly market commentary, Bill Miller helps us […]
Intel slipped—and its future now depends on making everyone else’s chips
The semiconductor industry, which touches every aspect of our lives now – from cars to electronic gadgets to our social media and Netflix afflictions, is at an inflection point like never before. As this article puts it “the leading edge of semiconductor manufacturing, one of the world’s most profitable, challenging, and cutthroat businesses.” A few weeks […]
Review of ‘The Brains and Brawn Company: How Leading Organizations Blend the Best of Digital and Physical’ by Robert Siegel
As more consumer internet IPOs head for the Indian stockmarket, we are asked by Marcellus’ clients whether our investee firms are going to be disrupted by VC funded digital cash guzzlers. At the other end of the world, Robert Siegel has written an outstanding book on the same subject – the only difference is that […]
Secret of Dhoni’s success: Simplicity and clarity
As one of our heroes, Rahul Dravid, heads towards high office in Indian cricket, we highlight this superb piece from Sandeep Dwiwedi of the Indian Express who pays fulsome tribute to one of the smartest cricketers to have played for India, MS Dhoni. Beyond paying tribute to Dhoni, this article highlights – without intending to […]
How Can the Stock market be Taken to the Masses?
The two most of common ways of accessing the stock market – mutual funds and brokerage accounts – are relatively expensive for ordinary Indians. If the Indian stock market is to be taken to the masses, the highly successful National Pension Scheme construct looks to be the most likely vehicle which can serve this purpose. […]
Learning from global financials – Part-1: Progressive Corp.
As discussed in our Mar, 2021 newsletter on ICICI Lombard (click here to read), the unique business model of raising cash upfront (at possibly no cost) and earning income on it for extended periods of time makes a well-run general insurer an attractive business to own. In this newsletter we discuss Progressive Corp., an American auto insurer established […]
Don’t Wish for Happiness. Work for It.
Arthur Brooks writes this wonderful column for The Atlantic about “How to Build a Life” – in this piece he argues why we need to work for our happiness very unlike the Stoic thought: “In his 1851 work American Notebooks, Nathaniel Hawthorne wrote, “Happiness in this world, when it comes, comes incidentally. Make it the object […]
All about setting up a living trust
Some of our clients who manage their own investments rather than with the help of a wealth manager seem to struggle with one aspect – succession planning. Many have realised the need for the same through Covid. Whilst the services of a specialist estate planner is recommended, this article in the BusinessLine by Sonali Pradhan […]
Shein exemplifies a new style of Chinese multinational
Robert Siegel’s new book “The Brains and Brawn company” talks about how neither the new age all-digital company has a right to win nor is the brick and mortar incumbent hopelessly vulnerable to disruption – a successful business needs the best of both. In our fund specific newsletters, we have talked about how our portfolio companies have continuously […]
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