Share price performance of the Nifty50 and Marcellus’ CCP portfolio constituents over the past two decades shows that the benefits of waiting for lower purchase prices fade away meaningfully as the quality of the portfolio’s fundamentals improves. Investors who make periodic investments in companies with weak fundamentals benefit substantially from timing the purchase prices – […]
We end this week’s edition with an inspiring story about how an artist and anthropologist from New York built a school for 400 girls in rural Rajasthan. “Rajasthan is one of the most conservative states in India, where ancient customs circumscribe a woman’s freedom and in turn any chance of economic independence. …[Michael] Daube, an […]
Abdullah Al-Rezwan is a young analyst who publishes some deep dive research on specific companies on his blog. In this piece, he shares his approach to valuation, a subject often misunderstood and misused. Abdullah brings out the limitations given the inexact nature of valuation as a science yet the importance of using it to improve […]
The title of the article may be a bit misleading i.e, the author, who is the Chief Investment Strategist at Charles Schwab, doesn’t actually suggest one should get excited about a certain presidential candidate’s prospects of winning the elections from the market’s perspective. Infact, she reckons quite to the contrary – elections are by and […]
Social media has accelerated the creation and dissemination of fake news and misinformation, more so among older generations. Many of us have experienced our parents, uncles and aunts fall prey to this when they unwittingly post doctored images/videos or conspiracy theories on our family Whatsapp groups or on Facebook. This piece in the Huffington Post […]
In the wake of Covid-19 making many of us spend lots of time at home and by ourselves, psychologists have begun publishing research on what being by yourself does to your mind, your body and your behaviour: “It turns out there’s a link between the size of a primate’s brain, and size of the communities it […]
In this outstanding piece Pratap Bhanu Mehta highlights the BJP’s achievement over the past six months – whilst a lot of people had their heads buried in the sand on account of Covid-19 – of pushing through tricky economic reforms without losing too many votes and with the implicit support of corporate India. Mr Mehta […]
The Capital Asset Pricing Model clearly does not work in India – neither in theory nor in practice – because in the Indian market, risk & return are negatively correlated i.e. lower risk leads to higher returns. Sophisticated investment theories can be damaging for your wealth Amongst the more delusional theories in Finance is the […]
Sweden has gone from initially being hailed for the most liberal lockdown only to later on becoming the whipping boy for being so lax as cases and deaths per capita significantly exceeded its Scandinavian neighbours. Now with things back under control, here’s a piece in The Economist about how Sweden’s policy decisions are driven by […]
Whilst there are no prizes for guessing that most of Marcellus’ clients come from the most affluent strata of Indian society, it is actually touching how much faith many of us have in the judicial machinery of the Indian state. Whilst the recent brutality in Hathras might have awakened us city dwellers to the grim […]
The outgoing CEO of HDFC Bank and the only one that the bank has had in its 26yr history, Aditya Puri, talks about some of the key issues concerning the bank and the economy in this interview with Nikunj Dalmia in The Economic Times. In line with the digitisation initiatives of the bank in the […]
To continue with the theme of big technology monopolies, no better to get the perspective of someone who is a Silicon Valley insider and yet a critic of the monopolist winner takes all industry structure. Chamath Palihapitiya, the founder of venture capital firm, Social Capital, is known for his outspokenness about various issues, in particular […]
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