Short read: Don’t be a stranger: The power of renewing old friendships
Plenty of research has shown time and time again that the biggest source of happiness is our social connections (only health is bigger). Yet, most of us end up ignoring some of our most precious relationships as we get caught up in our pursuit of professional success or its exigencies. In this blog, Rob Henderson […]
Long read: Direct and Indirect
It seemed appropriate to follow up Howard Marks’ memo with this newsletter from Josh Tarasoff from Green Lea Lane Capital as it picks up the thread on the inherent unpredictability in investing. Except Josh extends this to beyond investing to business and in fact any complex adaptive system. More importantly, he establishes the multi-variate nature […]
Long read: The Folly of Certainty
Intellectual humility is often regarded as one of the most important traits to succeed in investing. So, when Howard Marks writes a memo on it, we have to feature it for he has been quite vocal on the subject of the inherent uncertainty in investing, markets and the economy. Yet, many of us mistake a […]
Long read: How America tried and failed to stay White
If you are a liberal, you will love this long graphics heavy read from Jeff Bezos owned Washington Post. If you are a conservative, you might not like the piece, but we would recommend that you read it to understand how the journalism of the future will look like – combining graphics, animation and text, […]
Portfolio performance and Update on Fundamentals – June 2024
*For relative performance of particular Investment Approach to other Portfolio Managers within the selected strategy, please refer https://www.apmiindia.org/apmi/WSIAConsolidateReport.htm?action=showReportMenu Under PMS Provider Name please select Marcellus Investment Managers Private Limited and select your Investment Approach Name for viewing the stated disclosure Consistent Compounders Portfolio (CCP) Businesses with strong competitive advantages (and hence high ROCEs), can be categorized into […]
Short read: Frank Duckworth dies: How his DLS method works
Arguably, the game of cricket lends itself to statistical analysis more than any other sport. Hence, it is no surprise that a statistician has had a significant influence on the game as it is played today. We are talking about Frank Duckworth, who passed away last month. Duckworth, a member of the Royal Statistical Society […]
Short read: AI’s $600B Question
The boom in Generative AI is real if Nvidia’s shares are anything to go by. Indeed, Nvidia became the largest company on the planet by market cap briefly last month, its market cap rising ten times in a year and a half to over $3trn. It is not just its market cap but also its […]
Short read: Why India’s food norms fail to detect pesticide in spices
Did you know that “Indian laws do not mandate that spices sold in domestic market be tested for any pesticide residue”? We didn’t know this either until we read this informative piece by Tabassum Barnagarwala. As many of us have learnt over the past couple of months regulators in various countries (UK, Singapore, Hong Kong, […]
Long read: The Right Kind of Stubborn
Last week, we featured a piece trying to help us distinguish between real experts vs imitators amongst people we encounter in our lives. Here’s another piece helping us distinguish between two kinds of stubborn – one the helpful kind or persistent, the other not so useful, the obstinate. And to help us clarify our thinking […]
Long read: China’s vanishing banks are threatening social stability
Harshad Shah is a Chartered Accountant with an independent practice in India. We don’t know him personally but this long & hard hitting blog from Mr Shah was brought to our attention by a switched on civil servant in Delhi. Whilst we are not in a position to verify the facts & figures cited in […]
Long read: The sperm whale ‘phonetic alphabet’ revealed by AI
One of the most visibly positive results of the proliferation of AI is the manner in which it is helping us humans decode the languages of animals. Sperm whales are the latest species to have their language decoded by various groups of scientists in Europe and America thanks to AI. As Katherine Latham and Anna […]
Short read: Experts vs. Imitators
This article is adapted from Shane Parrish’s brilliant book “Clear Thinking: Turning Ordinary Moments into Extraordinary results”. With the advent and explosion of the internet and the blogosphere, access to content has become ubiquitous and we get exposure to a whole host of topics. And often we feel like we are experts in those, despite […]
For more content on our strategy, visit the archives GO TO ARCHIVES