The Cautionary Tale of Equity Research
Equity research is perhaps one of the most fulfilling professions. As an analyst, you get to study and value businesses with different business models and dynamic at that, to ‘grill’ CEOs who’ve spent more years running the business than you’ve been on the planet, serve some of the sharpest fund managers as clients and compete with a whole […]
Coronavirus Has Upended Everything Airlines Know About Pricing
The airline industry has been notorious for being the most difficult ones to profit from or indeed survive in, given almost every crisis seems to lead to a round of bankruptcies. The current crisis with the travel bans might just be the most severe of them all. This article talks about a completely new challenge the […]
Immunology Is Where Intuition Goes to Die
Ed Yong has been putting out some really well researched pieces through the pandemic on complex matters of science but explained in a way that all of us can understand. In this piece, he writes about the human immune system, a subject of prime concern for those of us who are hoping against hope for […]
A question of judgement
Judgement is the most prized quality that employers would like to see in their managers, that shareholders would like to see in the CEOs of their investee companies and voters would like to see in politicians. But what exactly is good judgement? Can you define it or frame it? “Good judgment is a quality everyone […]
‘They’d Find Fraud, Fraud, Fraud.’
Geo-political aggression is not the only place in which China is making waves. In recent years, several global investors have lost their shirts investing in Chinese companies not due to Covid-19 nor due to the economic slowdown but largely due to fraud. That in turn has spawned a cottage industry in America – experts who […]
“The Victory Project” on Marcellus’ Second Birthday
This week we celebrate a triple triumph – Mumbai’s quiet victory against the ravages of Covid-19, Marcellus’ second birthday and the publication of “The Victory Project: Six Steps to Peak Potential”. A Triple Triumph “The Victory Project”, co-authored by yours truly with his friend Anupam Gupta, was originally slated for release in the Spring […]
You Can Stop Cleaning Your Mail Now
As our first long read this week says, our understanding of the Coronavirus has been only gradually improving through this pandemic. One of the new findings seem to be the relatively low probability of surfaces (door knobs, railings, delivery packages, etc) as a source of infection. Derek Thompson, in this piece in the Atlantic talks […]
The Age of Mass Surveillance Will Not Last Forever
Last week, we featured a piece on the geo-political implications of the business of the internet and how data is at the centre of Cold War 2.0. This piece by none other than Edward Snowden, the CIA analyst who blew the whistle on how the state was using the internet to spy on its own citizens. Snowden […]
Google’s Top Search Result? Surprise ! It’s Google
Last week, we featured a piece on how Jio is likely to achieve what no other telecom operator in the world has managed to – creating a layer of profitable services on top of the network access, the primary means of relationship with the subscriber. This article in The Markup with some interesting graphics shows […]
Market twists and turns, unraveled
Peter Oppenheimer, Goldman Sachs’ chief global equity strategist, has published a new book. Titled “The Long Good Buy”, the book looks at bull markets and their denouement in the US and in the UK over the past 300 years. Oppenheimer’s book “…describes multiple types of bull and bear markets, including cyclical, event-driven, structural and even non-trending.” […]
The Long Game of Coronavirus Research
If you are one of those who believes that a Coronavirus vaccine is just around the corner, you need to read this piece: “In 1984, President Reagan’s Health and Human Services Secretary, Margaret Heckler, said, “We hope to have a vaccine ready for testing in about two years.” Almost four decades later, there is still no […]
Importance of Lethargy Tests in Consistent Compounding
Consistent compounding requires focus and discipline over long periods of time. However, just like assembly line workers in a manufacturing process may find themselves bored by the repetitive nature of their work; consistent compounders also run the risk of boredom / fatigue / complacency in the long run. This can then lead to mistakes cause […]
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