Are consistent compounders too big to grow?
Marcellus’ Consistent Compounders Portfolio consists of companies which have already delivered consistently healthy growth in their fundamentals over the past decade or longer, and where we expect the firms to deliver consistent compounding over the next decade as well. However, given the long and consistent historical track record of these companies, some investors are concerned […]
We demand an absurd level of certainty from our politicians – and this makes them stupid
It is said that intelligence is not static. Whilst we all are born with a certain IQ, it is possible that with curiosity to learn by reading, listenening and reflecting, one can improve her intelligence or indeed the lack there of could drive one the other way round. Whilst this is applicable to professionals in […]
The Joy of Finding Out
Equity analysts are not exactly rocket scientists but most analysts would agree equity research is quite a fulfilling profession. It is a job where you learn something new every single day. But even the gruelling aspect of endless readings and numerous interviews with people knowledgeable about a company or an industry just to find an […]
Rituals and Routines
We are a big fan of routines and wrote a note on it six months ago: https://marcellus.in/blogs/marcellus-the-working-habits-of-great-minds/. In this piece Ben Carlson, from the superb Ritholz stable in NYC, writes about elite baseball players use a relatively straightforward routine which allows them to maintain strength and fitness over a long and demanding career: “Dana Cavalea became the […]
How Jaipur became an economic crimes hub
India’s Q2 GDP growth was reported to be 4.5%, the lowest in six years. Much of the country’s slowdown woes can be ascribed to the liquidity squeeze caused by the financial system’s asset quality strain, which in turn has been caused by, amongst other things, the challenges in the real estate sector. Turns out, the […]
The Feud that Created America’s Greatest Race Car
Around the time that cable TV came to India in the early nineties, Michael Schumacher, the legendary Formula 1 driver was racing in a Ford and ended up winning his first two titles in that car before switching to Ferrari in which he won 5 more titles. That Ford vs Ferrari saga was reignited by […]
The Long-Forgotten Flight That Sent Boeing Off Course
Plenty has been written about how the “financialisation” of Wall Street and the City of London over the last 40 years has created in these places – and hence by extension in Dalal Street – a toxic culture of greed is good, a culture that values short term share price gain over long term franchise […]
Nifty & Indian GDP: A Complete Breakdown in Relationship
The complete breakdown of the relationship between Nifty earnings and GDP growth raises major questions about India’s premier benchmark index. Whilst the underlying drivers of this relationship breakdown are non-trivial (and merit greater investigation), unless repaired this relationship breakdown could have major adverse consequences for the Indian economy. Our 15th Feb note… On 15th February 2019, […]
How Sesame Street set a gold standard for education
These days, there isn’t a household where young kids are supplied with educational gadgets or at the least a tablet to browse curated Youtube or some such other content. Whilst there is debate over the effectiveness of such methods in terms of children’s learning, Tim Harford, who writes the Undercover Economist column for the FT […]
How much would giving up meat help the environment?
The Economist’s this week’s edition’s Daily Chart section carries a startling chart showing the average relative environmental impact of various foods on one axis and the relative risk of dying from their consumption on the other. It shows how food that isn’t good for your health isn’t good for the environment either. The article features […]
Engineering a season of floods
This monsoon, several Indian towns hitherto not known for flooding were submerged for days resulting in significant destruction of property and life. Amitangshu Acharya who is a Leverhulme Trust PhD scholar in human geography at the University of Edinburgh, takes a shot at explaining this increasing incidence of flooding by attributing it to the construction […]
How The Private Jet Became The Singular Fetish Object Of The Modern Billionaire
We live in the age of epic income inequality and in this era, private jets are the most sought after objects of the richest, most ambitious, most rapacious people on this planet. Interestingly, not all of these people are businessmen. Politicians – from the West and from the East – also have a thing private […]
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