Consistent Compounders

How To Help Your Kids Find Their Calling In Life: 4 Secrets From Research

This blog is based on a book called “The Path to Purpose: How Young People Find Their Calling in Life” by William Damon, one of America’s leading writers on the lives of young people. Judging by the blurb on the book on Amazon.com, the book itself is the result of an extensive study of young Americans’ lives. […]

Mar 01 . 3 MIN READ
Consistent Compounders

The Stock Price of a Company Tells You Nothing Useful

The P/E multiple of a stock has ZERO ability when it comes to explaining future share price movements in India. The same is applicable for P/B and EV/EBITDA multiples. In contrast, Free Cash Flow (FCF) growth explains nearly 60% of the movement in the share prices of BSE100 companies. Coming to terms with this counterintuitive […]

Feb 26 . 6 MIN READ
Consistent Compounders

The everyday device in your home killing hundreds around the globe

Steve Jobs is believed to have famously said how he wouldn’t let his kids use the iPad or smartphones in general. Coming from the man who created it, he very well knew how destructively addictive these gadgets could get. This article talks about the many ways that the smartphone addiction of today is becoming fatal […]

Feb 23 . 3 MIN READ
Consistent Compounders

New Firms for a New Era

An oft touched upon subject in 3L-3S is that of an inclusive capitalism, which goes beyond just serving the owners of capital, the lack of which has been one of the key drivers of income and wealth inequalities that the world is witnessing today. This piece by Dani Rodrik delves on the why’s and how’s […]

Feb 23 . 2 MIN READ
Consistent Compounders

How to put out a bright spark

At Marcellus, we have written about the formalisation of the economy driven by GST among other factors and the resulting consolidation of industry into a few large players at the expense of the small and medium enterprise sector. This piece in the Outlook Business takes a look at the fate of the Foundry industry in Coimbatore known […]

Feb 23 . 4 MIN READ
Consistent Compounders

Never Has a Venial Sin Been Punished This Quickly and Violently!

There have been proclamations about how value investing, at least value investing as we know it, is dead – such as this one which tries to argue that value of companies  with innovative capabilities (say Tesla) that can have far reaching impact over a long period of time is simply hard to assess. Well this is not […]

Feb 23 . 4 MIN READ
Consistent Compounders

Indian tequila: one man’s quest to perfect a national spirit

This is the remarkable story of how tequila began to be manufactured in India’s Deccan Plateau. The stuff is so authentic that it is indistinguishable from the real thing. “In a quiet part of Goa on the west coast of India, three identical enamelled cups were perched on a bar. Each contained a clear alcohol. In […]

Feb 23 . 3 MIN READ
Consistent Compounders

Yuval Noah Harari’s History of Everyone, Ever

For a historian to be profiled in a 10,000 word article in the New Yorker, which is arguably the world’s best magazine, he/she has to be pretty special. Most people who have read Yuval Noah Harari’s books will argue that he is pretty special. This profile tells you more about this unique man. The piece […]

Feb 23 . 4 MIN READ
Consistent Compounders

How PSU stocks disprove the Efficient Markets Hypothesis

The Efficient Market Hypothesis (EMH) posits that all stocks always reflect all available information in their prices, making it impossible to find or buy undervalued stocks. With stock selection being redundant, the one way to increase portfolio returns is to increase systemic risk – i.e. buying high beta stocks. Many distinguished investors, including Warren Buffett […]

Feb 19 . 8 MIN READ
Consistent Compounders

Robot Analysts Outwit Humans in Study of Profit From Stock Calls

Humans are losing to robots in a rapidly rising number of industries. If ‘Robo Advisors’ have taken off in the world of financial advisory or wealth management, now, ‘Robo analysts’ seem to be disrupting the hallowed world of sell side equity research analysts. Indeed, a study by the Kelley School of Business at Indian University […]

Feb 16 . 2 MIN READ
Consistent Compounders

Netflix Already Won the Oscars

This article was written just before the actual Academy awards night. And the conclusion wouldn’t have been any different if it were to have been done after the awards where Netflix managed to win all of a mere two awards. Indeed, the day after the awards’ night, Netflix’s shares rose, somewhat explained by the article […]

Feb 16 . 2 MIN READ
Consistent Compounders

The Outsize Influence of Your Middle-School Friends

Increasing bodies of research show that social relationships are perhaps the biggest drivers of happiness, thanks to their role in the release of oxytocin, one of the happiness inducing chemicals in the human body and reduction in cortisol, the stress inducing hormone. This article highlights research which shows that this phenomenon is rather pronounced in adolescents and […]

Feb 16 . 5 MIN READ

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