Tech enhances our lives — but is it a good investment?
In meetings with investors, we are often asked why we don’t have any tech companies in our portfolio and by that aren’t we missing out on the next big thing? We find this fascination for tech stocks quite interesting. It is understandable given the immense amount of wealth created by the likes of FANMAG (Facebook, […]
Why investors want to bet on humble CEOs?
Earlier this month, we featured a piece on how there is increasing research from psychologists on the trait of humility and how it can be potentially inculcated through training. It is often said intellectual humility is perhaps the most important personality trait for an investor. A new study shows how investing in companies run by humble CEOs […]
Google’s secret cache of medical data includes names and full details of millions – whistleblower
As the movement for data privacy gains momentum, yet another whistleblower complaint shows how big tech may be disregarding laws to gain access to personal data that can be used to further its business interests. Google’s parent Alphabet has been pursuing ways to use Artificial Intelligence to improve healthcare delivery and outcomes, including its acquisition […]
The Economist Who Wants to Ditch Math
In a world that increasingly believes data is the new oil, we have an economics Nobel laureate suggesting data is overrated, especially when it comes to economics. Robert Shiller, the Yale professor who won the 2013 Nobel and known for his contrarian calls warning of a crash ahead of both the dotcom and housing bubbles, […]
Rich Like Me: How Assortative Mating Is Driving Income Inequality Author: Branko Milanovic
Many “modern” Indians and several Westerners find the Indian concept of “arranged marriage” quaint. This fascinating piece by economist Branko Milanovic shows that increasingly marriages in the West are basically arranged – not by parents but by institutions like universities or workplaces. As a result, Western economies are increasingly going to resemble India’s – a […]
Manager of Managers
Perhaps the most troubling aspect of the rise of “wealth management” in India is the notion that the wealth manager will choose for her HNW clients outperforming fund managers. We have shown in our book “Coffee Can Investing: The Low Risk Route to Stupendous Wealth” that such a notion is NOT supported by data – pages 84 […]
Smartphones: How They Damage You & How You Can Fight Back
Beyond the negative impact of our smartphones on our attention spans lie other harms. These negatives include anxiety, loneliness and a tendency to take extreme stances. Cal Newport says that by jettisoning all but the most essential digital tools for a month, not only can we learn “deep work”, we can also build more fulfilling […]
Long Before ‘Netflix and Chill,’ He Was the Netflix C.E.O.
In his book ‘Principles’, Ray Dalio talks about the concept of ‘Radical transparency’ as the cornerstone of his firm Bridgewater Associates’ culture. Another firm which has adopted the principle is the iconoclastic founder and CEO Reed Hastings’ Netflix, rather controversially at that (see here to know about Netflix’s popular ‘Culture deck’). In a book released this week “That […]
Despatch from Tokyo – The multiracialism of the Brave Blossoms
Anyone out there who despairs about the amount of religion, language and caste related bigotry we see in India should despair less. This super piece from Pallavi Aiyer explains how an ultra-conservative country like Japan – where people have told pollsters that they would prefer to work with robots rather than work with foreigners – […]
A Long-Only Manager’s Radical, Logical Idea of Zero Management Fees
As some of you might know, at Marcellus we offer clients an unusual fee structure: we charge fees only if we deliver in excess of 8% and our fees are a fifth of the return generated in excess of 8%. Now, an American wealth manager has done some research which provides intellectual justification for our […]
Non-Intuitive Lessons From the Man Who Solved the Market
Renaissance Technologies, one of the world’s best performing investment firms ever has been an enigma of sorts with very little understanding outside the firm about what underpins this sustained stupendous performance. Exactly how stupendous are we talking – Renaissance’s Medallion fund over the last 30yrs has returned 39% annually net of fees. That’s not all […]
The giant steps of Yashasvi Jaiswal
Warren Buffet calls it the ovarian lottery. For most of us, the conditions of our birth – financial, geographical and social, determine much of how the rest of our lives pan out. Few people defy this lottery and rise up against all odds. The Mint carries a heart-warming story of a boy who came up […]
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