Consistent Compounders

The Top 20 Business Transformations of the Last Decade

Amongst many ‘looking back at the decade’ studies, this one is quite fascinating. A study by Innosight of the most transformative businesses of the decade inspired by the need to attach a purpose to business which then drives transformation. “the Business Roundtable [in August] released a statement signed by 181 CEOs stating that serving shareholders […]

Jan 05 . 3 MIN READ
Consistent Compounders

Silicon Valley’ Exits With Serious Points About Big Tech

3L-3S has been prolific in featuring the growing dominance of big tech, fascinated by its ability to take mankind forward yet concerned about the perils associated with it including threats to competitive capitalism, data privacy, etc. It is only appropriate we feature a TV series titled Silicon Valley (featuring on Hotstar in India) that brings […]

Jan 05 . 3 MIN READ
Consistent Compounders

Workism Is Making Americans Miserable

“Work is worship” is a popular saying attributed to several people from the 12th century philosopher Basavanna to Gandhi. Yet 20th century economists believed as humans trade off between work and leisure and they get more productive at work or as nations become richer, people will spend fewer hours working into the 21st century. However, that hasn’t particularly […]

Jan 05 . 5 MIN READ
Consistent Compounders

Fuzzy Math That Fuelled Junk Debt Boom Is Sparking Jitters

15 years ago when US mortgage lenders relaxed their lending criteria for individuals with relative low ability to service their debts, they sowed the seeds of the Great Financial Crisis of 2008. This Bloomberg article purports that something similar is happening in the US junk bond market now. (It is interesting how articles on accounting […]

Jan 05 . 3 MIN READ
Consistent Compounders

The 2010s Were the End of Normal – How social media, the Great Recession and Donald Trump combined to bring out the ‘indigenous American berserk.’

Given that many of us have spent our Christmas break speaking to friends and relatives who are either worried about the CAA-NRC turmoil in India or are exultant about India’s turn to the Right, we felt it is worth beginning the New Year on a positive note. We believe that this too shall pass, that […]

Jan 05 . 5 MIN READ
Consistent Compounders

The conventional DCF method undervalues longevity of a business

An investor looking to buy and hold stocks over a long time period, needs to be able to differentiate between businesses which can deliver longevity of consistently healthy free cashflows and those that run a high degree of uncertainty in their fundamental prospects. This differentiation is essential, both, in order to avoid premature exits from […]

Jan 04 . 11 MIN READ
Consistent Compounders

The curious tale of how Japan got hooked on KFC at Christmas

There is almost a sense of purity when it comes Japanese cuisine with all the emphasis on the freshness of ingredients and retaining as much original flavours of the ingredients. Indeed, Japan is host to the highest number of Michelin starred restaurants. Yet, like everything Japanese, there is an oddity involved with Japanese when it […]

Dec 29 . 2 MIN READ
Consistent Compounders

The buzz around AirPods

In last week’s 3L-3S, we featured a piece on how the emergence of headphones are actually influencing the sort of music being produced. This piece in the Economist looks at the business side of things for ‘earwear’. The numbers are indeed staggering: “Apple does not release figures for any of its “wearables”, but AirPods are the fastest-growing […]

Dec 29 . 2 MIN READ
Consistent Compounders

The ideal team size for a money manager to beat the market

Michael Mauboussin, director of research at BlueMountain Capital Management, has conducted a study which looks at the ideal team size for an asset management firm seeking to beat the market. He finds that funds managed by a team do better than funds managed by a single individual. That begs the question “What is the ideal […]

Dec 29 . 1 MIN READ
Consistent Compounders

Can we break our addiction to plastic? The future of packaging

This video on Youtube of a marine conservation biologist trying to help a sea turtle relieve of a plastic straw up its nostril went viral with 38m views. Similar gut wrenching videos of vast swathes of plastic dumped in the ocean – the Great Pacific Garbage Patch (supposedly twice the size of Texas) – have inspired some people to […]

Dec 29 . 5 MIN READ
Consistent Compounders

Your Apps Know Where You Were Last Night, and They’re Not Keeping It Secret

If there’s one thing that has made smartphones the gamechanging tech of our lifetimes, it is the use of location data – think Amazon’s delivery efficiencies or ride sharing or food delivery, etc. Whilst all these are examples of how businesses and consumers alike have benefited from the technology, there is a dark side to […]

Dec 29 . 3 MIN READ
Consistent Compounders

Are anti-competitive firms killing American innovation?

When the economist, Thomas Phillipon, moved to America in 1999, he found a country where high quality products were available at “dazzlingly cheap” prices. “But over the past two decades, Mr Philippon writes in “The Great Reversal”, this paradise has been lost. Europeans now enjoy cheap cross-continent flights, high-street banking, and phone and internet services; Americans […]

Dec 29 . 4 MIN READ

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