Why Are People Across China Refusing to Pay Their Mortgages?
In events which are reminiscent of what happened in America in 2007-08, millions of Chinese homebuyers are refusing to make the monthly instalment payments on their mortgages. The piece in Bloomberg is studded with useful graphics on the scale of the problem: “A wave of disgruntled homebuyers are refusing to pay mortgages for unfinished or stalled […]
The biggest risk in business (and investing)
We are grateful to those of you who reciprocate with interesting reads that you come across. Whilst we receive a few periodically, it was astonishing to see many of you recommending the same read within 24hrs of the blog being published. Such has become the following for Anand Sridharan’s blogs, which are a tutorial of […]
Howard Marks’ Memo: I Beg to Differ
It is that time of the quarter when we refresh ourselves of some of the ‘most important things’ in investing – when the legendary Howard Marks’ memo lands in your inbox. As timeless as they are, Marks’ way of delivering these insights make them that much more effective. In this memo, Marks touches upon some […]
Why Storytelling Is Part of Being a Good Doctor
We try to write a book a year but truth to be told, we find that to be a struggle given our workloads and our young families. Hence, we found this piece in the New Yorker – which highlights that many prominent writers (including Anton Chekov) were active medical professionals – to be inspirational. The […]
Positive feedback: the science of criticism that actually works
Most of us have grown up in our jobs being told that giving constructive feedback and receiving feedback without flaring up is the way forward in life. This long piece in the FT questions this entire corporate construct based around ‘feedback’. Broadly speaking, this piece raises three sets of issues around which the edifice of […]
The Evolutions Underpinning the Revolution
Structural changes in the economy (formalisation, access to low-cost technology, market share consolidation due to slowdowns & disruptions), significant reinvestments into the business (product, distribution, capacities, technology & expansion in addressable markets) and single-minded promoter focus/institutionalisation have enabled the Little Champs to sustain earnings growth through tough macro cycles over the last ten years. Further, […]
America’s External Sustainability Is at Risk
The US Dollar has been on a tear off late rising against most global currencies, most famously regaining parity with the Euro last week. With the US experiencing inflation higher than most countries in the rich world, many have been surprised by this stupendous dollar rally. One explanation has been that the Federal Reserve has […]
This Pioneering Economist Says Our Obsession With Growth Must End
Central banks globally are battling inflation with tighter monetary policy willing to sacrifice growth in the process. Whereas the ongoing heatwaves across the world, which many attribute to climate change, beg the question as to why don’t we sometimes sacrifice growth to battle environmental damage for a more sustainable future. Here’s an interview with Herman […]
Why Isn’t New Technology Making Us More Productive
For all the euphoria over the past 20 years about the rise of new types of tech, there is scant evidence that even in the country which has most aggressively invested in tech – the USA – labour productivity is actually enhanced by the application of technology. As this piece in the NYT says, “Innovations like […]
Farmers That Finance the World
Marc Rubenstein’s Net Interest is fast becoming one of the most widely read blogs focussing on the global financial services industry. Rubenstein, a former hedge fund manager himself, in his blogs, dives deep into topical subjects concerning the industry or in-depth analyses of a sub-sector or a company in each of these blogs. This one […]
A new ‘miracle’ weight-loss drug really works — raising huge questions
Increasingly obesity is being viewed by scientists as a disease rather than as a lifestyle problem. It follows therefore that scientists now view obesity as a problem that can be remedied by drugs rather by dieting & exercise. Enter, the wonder drug that can cure obesity: “Wegovy, made by Danish drugmaker Novo Nordisk, is the first […]
ONDC and the Next Digital Commerce Evolution
In the 12th June edition of Three Longs & Shorts we highlighted Infosys Chairman Nandan Nilekani and Chief Economic Advisor V.Anantha Nageswaran’s piece in Mint on Open Network for Digital Commerce (ONDC) – see https://marcellus.in/story/open-network-for-e-commerce-its-an-idea-whose-time-has-come/ To quote Nilekani & Nageswaran: “The idea of ONDC was conceived and has been widely discussed since April 2020, soon after the first […]
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