Long Term Compounding Using Low Volatility & Other Fundamental Factors
My colleagues Saurabh Mukherjea and Rakshit Ranjan co-authored a book titled Coffee Can Investing with a subtitle – “The Low Risk Road to Stupendous Wealth”. In this blog, Justin Carbonneau of Validea brings out a similar essence from the book High Returns from Low Risk: A Remarkable Stock Market Paradox, authored by Robeco fund managers […]
Blame Economists for the Mess We’re In
In his refreshingly positive book Factfulness, Dr Hans Rosling talked about how people across the world are living longer with average life expectancy globally now at 72yrs rising up form 60yrs in 1973. This trend was true for the United States as well until recently when it has started to decline. It turns out that […]
“He’s Full Of Shit”: How Elon Musk Fooled Investors, Bilked Taxpayers, And Gambled Tesla To Save Solarcity
Last three years have seen Elon Musk’s public perception slide from an iconoclast solving the world’s problems to borderline unhinged as his critics rise in number and intensity. Indeed, there is a common hashtag his critics use on Twitter – #TSLAQ with the first four letters being Tesla’s ticker symbol and the Q at the […]
The Red Queen of Investing
The author is yet another high-quality writer from the Ritholtz stable and he has produced a really interesting piece of how trading, like other aspects of life, has gradually become an arms race. He begins by using Darwin’s theory of evolution to lay out the basic concept: “Darwin is in the Galápagos Islands when he […]
Why consistent compounders outperform during market stress?
Marcellus’ Consistent Compounders portfolio has shown resilience since inception in 2018. This resilience is not uncommon for share prices of great companies. Over the past 2 decades, in stock market crashes,stocks like Asian Paints and HDFC Bank have, more often than not, delivered positive and healthy returns.More importantly, in the few instances that these stocks […]
Technology, for more than technology’s sake
Published on: 31 August, 2019 Once a new technology rolls over you, if you’re not part of the steamroller, you’re part of the road – Stewart Brand, American Writer. In a few days from now, on September 7th, 2019, the Indian Space Research Organisation (ISRO) is expected to land the Chandrayaan-2 on the Moon, joining […]
Collaboration Across Vast Networks: Lessons from the Marwaris
Published on: 27 August, 2019 The Marwari community serves as a case study of durable and extensive collaboration without the need for a dominant leader to oversee such an endeavour. This sort of community-based collaboration provides richer insights than B-School paradigms into why some teams succeed and others fail. “…read the sub-text and you […]
On floccinaucinihilipilification
Central banks’ influence on the global economy has been on the rise over the past few decades with ultra-low interest rates and unconventional monetary policies such as quantitative easing. Whilst they can be credited to have pulled financial markets up from the crises, their impact on the real economy remains a matter of debate. Growth […]
The Bond Raters Still Need to Be Fixed
Barry Ritholtz has written this article in the context of the US Financial Services industry but he might as well be talking about India given that India’s rating agencies have covered themselves with as much muck over the past four years as the US rating agencies did in the run-up to the Lehman crisis. For […]
Sports Cars, Psychopaths, and Testosterone: Inside the New Frontier of Fund Manager Research
We would like to believe a lot of investing success can be attributed to behavioural aspects or psychology than subject matter expertise. Now there is a whole body of research emerging taking this to the next level in terms of assessment of the fund manager’s personality traits as a key input to manager selection, according […]
How Scientists Built A ‘Living Drug’ to beat Cancer
This piece in the WIRED is an adaptation from the book The Breakthrough: Immunotherapy and the Race to Cure Cancer. Quite a riveting story about how when the parents of a six year old offered a bunch of researchers a chance to save their daughter when doctors of conventional medicine had given up all hope. […]
Was e-mail a mistake?
Cal Newport begins by telling us for most of human history, messaging was synchronous by default i.e. in an office or a factory people who needed to be told something had to meet the message giver face to face. As a result, for much of the 20th century “the push to create what communication specialists […]
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