How Real is America’s Chipmaking Renaissance?
Given the ‘make your semiconductors at home’ mania that is currently rippling across the world in the wake of China’s belligerence vis a vis Taiwan, this article in The Economist has been extensively discussed. Mr Nenni’s point of view in this article is that even with massive subsidies from the American Government (the CHIPS Act […]
The Explosive Ascent of Southern India
Per capita income for seven ‘southern’ states (Tamil Nadu, Telangana, Andhra, Kerala, Karnataka, Goa, and Maharashtra) has grown at an average 10% CAGR between FY14-22. These states, which account for 30% of India’s population and 45% of India’s GDP, now have an average per capita income of ~Rs 2.7 lakhs ($3,300), 50% higher than that […]
Portfolio Performance and Update on Fundamentals July
Consistent Compounders Portfolio (CCP) Fundamentals of CCP companies have delivered healthy progress in FY23, with weighted average PAT (profits after tax) growth of 20% YoY in FY23, backed by a revenue growth of 19% YoY in FY23. 1QFY24 results reported so far have exhibited exceptional strength, representative of market share gains from competitors and […]
BMI alone will no longer be treated as the go-to measure for weight management – an obesity medicine physician explains the seismic shift taking place
Obesity is an epidemic of sorts across the rich world as well as in developing countries. With increasing awareness of weight related health issues, people including medical professionals have widely used the Body Mass Index or BMI to determine if they are overweight or not. However, recent findings show that whilst BMI does a good […]
Many Indian firms need more leverage
One of the more perplexing things about the Indian business landscape is that even as cost of capital has fallen sharply over the past 20 years (the 10 yr Govt bond yield which was 13% in 2013 is now 7%). Indian corporates now borrow less than they did in the past. In this insightful piece, […]
US scientists repeat fusion power breakthrough
Nuclear fusion is widely believed to be the holy grail of energy security and sustainability. However, despite knowing this for decades, the scientific world had made little progress towards making it practical. The challenge: Nuclear fusion requires temperatures as high as the Sun’s (fusion is what powers the Sun as well) and no material known […]
Western values are steadily diverging from the rest of the world’s
Globalisation drove the world a lot closer with culture spreading from the rich world to the third world, including countries such as China and India with a rich cultural history of their own. However, there seems to be a reversal of sorts with the emergence of hyper nationalist strong men at the helm propagating a […]
There’s more to Assam than Ahoms. Ancient Kamarupa, Bengal challenge assumptions
Over the past few years public historian Anirudh Kanisetti has emerged alongside Manu Pillai as a fresh, new voice helping us understand our many layered past. In this piece Mr Kanisetti helps us understand that India’s North East was just as much of a battleground (between incumbent natives and foreign invaders who later assimilated and […]
Review of Neerja Chowdhury’s book ‘How Prime Ministers Decide’
Award winning journalist & political commentator Neerja Chowdhury has written an outstanding book packed with information, revealing anecdotes and penetrating analysis of India’s PM’s have made critical decisions which shaped their political careers and the country at large. The book is written with pace & verve (Mr Srinivasa Raghavan says that the style of the […]
Invest in Dominant B2B Firms in Highly Profitable Industries
The industry in which B2B firms operate can have an outsized impact on their compounding potential. Over FY14-23, some sectors like IT, Light Industrials and Chemicals have generated twice as much RoCE and share price returns as compared to sectors like Energy and Metals & Mining (which struggle to return even cost of capital). This […]
A moment that changed me: my teacher went totally off script – and opened a door for my life to flow through
Following up on Graham Weaver’s lecture to the Stanford MBA students, here’s another instance of wisdom imparted by a teacher to a class of young students. Colin Walsh, nominated for the Waterstones Debut Fiction Prize for his novel Kala, talks about how his high school teacher taught him the importance of curiosity and humility. “…he […]
How To Live An Asymmetric Life
Graham Weaver is a private equity investor and this is a summary of his lecture to the Stanford Graduate School Business. He begins by talking about how investing is all about finding asymmetric opportunities. “When I started my investing career, I focused almost exclusively on what I believed were the two fundamental rules of investing: […]
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