‘You always got the feeling MS Dhoni was one step ahead of everyone else’
In terms of impact on Indian cricket, MS Dhoni perhaps ranks right up there with Kapil Dev and Saurav Ganguly. So, we had to feature a piece upon his retirement. Of all the tributes, we found this interview with Michael Hussey who saw Dhoni from the perspective of an opponent, teammate and a coach, quite relevant. […]
Confidence tricks: The ignorant pundit is absolutely certain; the true expert understands their own limits and how to ask the right questions
The authors, academics at UC Berkeley and Columbia University, highlight that it has become increasingly hard to distinguish genuine experts from snake oil salesmen: “In every domain where decision-makers need the specialised knowledge of experts, those who don’t have the relevant knowledge – whether they realise it or not – will compete with actual experts for […]
The Unravelling of America
In this piece, anthropologist Wade Davis discusses how COVID-19 signals the end of the American era: “In a dark season of pestilence, COVID has reduced to tatters the illusion of American exceptionalism. At the height of the crisis, with more than 2,000 dying each day, Americans found themselves members of a failed state, ruled by a […]
The Antifragility Test Applied to Consistent Compounders
Antifragility is a much talked about virtue these days. However, what are the sources of antifragility? Why are some companies antifragile whereas their competitors aren’t? Is antifragility an innate trait or can it be cultivated? We answer these questions in this note “Antifragility is beyond resilience or robustness. The resilient resists shocks and stays the […]
Why Is Everyone Buying Gold?
A couple of months ago, my colleagues published a blog that talked about gold as an asset class. Since then, gold has rallied a further 20% before a taking a breather of sorts last week (still up almost 50% since March). Here’s Ruchir Sharma, the head of emerging markets and chief strategist at Morgan Stanley Investment Management, […]
Nicholas Christakis on fighting covid-19 by truly understanding the virus
As the world comes to grips with Covid, as countries begin to unlock and economies start to creep back to normalcy, here comes a warning from Nicholas Christakis to governments on why they should not let their guard down. Nicholas is a doctor and sociologist at Yale University, researching social networks and epidemiology. He is […]
How Tim Cook Made Apple His Own
India’s largest bank by value, HDFC Bank will see its only CEO till date and an iconic one at that, Mr Aditya Puri, retire in two months’ time after helping build the bank from scratch over 26 years. The retirement has triggered a lot of talk about how HDFC Bank will not be the same […]
The Season of Cricket Returns to the U.K.
Test Cricket, arguably the greatest of all sports, has returned inspite of Covid-19 and for this we have to thank the innovativeness of the English Cricket Board. This piece from the New Yorker is a celebration, both, of the sport and of the new Covid era rules governing the conduct of international cricket. For starters, […]
Public to Private Equity in the United States: A Long-Term Look
Michael Mauboussin has rendered yeoman service to thousands of investors with this note on the migration of American money from public markets to private markets. While the note focuses on the United States, there are lots of interesting takeaways for Indian investors. We have listed below our three main takeaways but would strongly recommend that […]
The Difference Between Great and Good Investors
Great investors differ from good investors in three key respects: (1) they are able to reduce mental clutter and thus focus more deeply on the key issues that matter; (2) they hone their creativity through extensive reading of diverse & complex material well beyond Finance & Investing; and (3) they are able to build collaborative […]
Spotlighting Garware Technical Fibres
In this month’s newsletter, we disclose the stock specific holdings in Marcellus Little Champs strategy. Besides the obvious requirements of clean accounting and prudent capital allocation, common traits across Little Champs are dominant positions in respective niches, high RoCEs & high reinvestment rates and consequent high earnings growth alongside a healthy balance sheet. In this […]
Schools Beat Earlier Plagues With Outdoor Classes. We Should Too
It is back to school season in many parts of the world and authorities are none the more wiser in terms of how to go about it. Early into the lockdown, we featured a piece in the 3L&3S about why closing schools for long causes life-long harm and increases inequality and also the shortcomings of online classes. Several […]
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