Amongst Emerging Markets, India and China have produced the greatest number of Consistent Compounders (i.e., companies which have delivered 10% YoY revenue growth and 10% RoCE consistently over a decade). However, not only does India produce more Consistent Compounders than China, Indian Consistent Compounders have also delivered more than twice as much shareholder return as […]
Some of us are fortunate enough to continue playing amateur sport well into our 40s and can relate to this delectable piece of prose from one of the best sports writers of our times – not so much to bring out the nuances of professional sport as much as to make sport romantic as it […]
Arthur Brooks is a Harvard professor on leadership and also hosts a podcast series titled How to Build a Happy Life besides writing this column for The Atlantic. In this piece, he tackles a problem most of us face to varying degrees – worrying about what others think of us, which in turn inhibits us from being […]
At Marcellus, we look for three characteristics in companies before investing – clean promoters (being fair to minority shareholders), prudent capital allocation and sustainable competitive advantages. The last of them is somewhat widely appreciated by investors (though not the easiest to assess) thanks to Buffett’s moat analogy. The former tends to come into focus in […]
Albert Einstein is often attributed with the quote of compounding being the eighth wonder of the world. Wonder, because plenty of research has shown that the human mind struggles to get exponentiality. And exponentiality in the context of technology is why we are seeing massive disruptions and why most of us have under estimated the […]
We have a significant stake (by our standards) in Dr Lal Pathlabs and have as a result had the good fortune to meet the Founder, Dr Lal, and the firm’s CEO, Om Manchanda, several times. As middle class Indians hailing from families with little or no business background, we believe that stories like Dr Lal’s […]
Since its inception about fifteen months ago, the Kings of Capital Portfolio (KCP) has delivered annualized returns of 34% vs. 54% for the Bank Nifty. The underperformance of the KCP portfolio is a factor of: (i) fund composition vs. that of the index – Bank Nifty consists of only banks vs. KCP has an allocation […]
Euthanasia or ‘assisted dying’ as it is called these days is becoming legal in more and more countries. Liberals believe that freedom should also include one’s choice of the manner and timing of their death as well. Whilst many countries are legalising it, the debate is far from over, argues this piece in The Economist, […]
We have featured pieces on the Metaverse in recent months, about what they mean by it and what implications it may have for all of us. But with Facebook diving right into it by going as far as changing its name to Meta, interest has shot up even more in the past few days. Jaspreet […]
The dreaded inflation print is out. Earlier this week, the US Labor department reported that Consumer Price Inflation for October was 6.1%, the highest in 30yrs. Over the past few months, we have featured pieces about how much of this is demand driven as opposed to the broken global supply chain and hence how much […]
The venture capital industry has never had it better. The last three decades has seen technology led disruption of long surviving brick and mortar business models, which has allowed many a VC funded David to become Goliaths. Such rapidly scaled businesses which have become utterly dominant monopolies whilst still owned by the VC has prompted […]
The world over, journalism has lost the prestige that it used to enjoy in the previous century. Whilst in this piece Shekhar Gupta focuses on how the Indian journalist went from hero to zero, the story Shekhar narrates is just as relevant for journalists plying their trade elsewhere.Shekhar uses the Hindi cinema’s portrayal of journalists […]
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