12 Things Lee Kuan Yew Taught Me About the World
One of the things that we have learnt from our guru Sir John Kay is that if we are to improve the quality of our thinking, we have to read about people and concepts that we disagree with. Hence whilst we are proud of India’s democracy, we have to read about countries and leaders who […]
NFRA’s R Sridharan: Loose drafting of law and muddle-headed thinking have led to regulatory capture
As we learnt from our recent trip to New Delhi, there is a massive punch-up playing out at present for control of the audit & accounting profession. In the blue corner is the ICAI, the chartered accountants’ trade body, which is protecting its turf and its members. In the red corner is the National Financial […]
‘Lethargy Tests’ For Our Little Champs
At Marcellus we use our proprietary Longevity Framework to rank companies on the quantitative and qualitative aspects surrounding the longevity of their free cash flows. This framework is not only used for initial stock selection but also as a tool to continuously evaluate the portfolio companies to detect any signs of lethargy (or loss of […]
How Portfolio Rebalancing Tools Enhance Investors’ Returns
Every stock market crash causes a dislocation in a portfolio of high-quality companies, due to differential drawdowns in the share prices of constituent stocks. Rebalancing such a portfolio in the aftermath of the crash not only generates additional returns, it also crushes the risk of being left with uninvested cash. The biggest challenge faced by […]
Lennon a Marxist or capitalist?
The best part of publishing 3L&3S is the reciprocal content we get from our readers. Last week’s edition featured a review of the book “Greed is dead” by Sir John Kay and Sir Paul Collier, where we asked: “What these two economists highlight is a powerful contradiction which runs through the mental models many of us use to […]
Jeremy Grantham warns of an epic market bubble, bemoans the meme-stock boom, and touts venture capital in a new interview
Jeremy Grantham, the co-founder and chief investment strategist of the iconic fund management firm Grantham, Mayo & van Otterloo (GMO) is in fine form in this interview with CNBC which Markets Insider has so efficiently captured in this concise piece with a dozen quotes. Grantham laments about the irrational exuberance in most asset markets – US […]
How do batters train for the demands of T20?
Twenty20 cricket is often ridiculed by the purists as a jamboree of sorts. This very well researched piece argues against, showing us how profit motive in sport can also drive innovation and progress. Tim Wigmore uses case studies to show why, say even the incredible power hitting that we witness today has so much research and […]
How the World Bank scandal is linked to Xi Jinping regime’s growing sense of entitlement
As each week brings incremental news of the ongoing unravelling of same facet of China – either its overleveraged economy or its dictatorial politics or its repressed society – the façade that the Communist Party leadership had constructed in the forty years since Deng Xiaoping took charge of China looks ever more tatty. In this […]
The real stakes of Apple’s battle over remote work
The debate taking place between Apple and its employees – with regards to returning to office work in the post-Covid world – is likely to be playing out at tens of thousands of companies across the world. The ‘Recode’ team at Vox have done a good job in this article of capturing both sides of […]
What modern India owes its maharajahs
As regular readers of the Mint Lounge, we miss Manu Pillai’s engaging column with a refreshingly different take on Indian history. The young historian is back with a new book – False Allies: India’s Maharajahs In The Age Of Ravi Varma. India’s princely states have been reviled by India’s freedom fighters for siding with the […]
A Quiet EV Revolution is Brewing In India’s Hinterland
Whilst India’s lack of charging infrastructure is said to be a hinderance for a more widespread adoption of electric vehicles in the long-haul vehicle segment such as trucks and cars, it is an increasingly consensus view that two-wheelers are going electric soon. But contrary to what we might perceive that the adoption is led by […]
The chip shortage could turn into a chip oversupply by 2023 states analyst firm
Our appreciation of TSMC’s success is enhanced when seen in the context of the heavily cyclical nature of the semiconductor industry – the demand and supply of it. This piece suggests we might see that again. The Covid driven acceleration of digitisation has created a boom in all things electronic and hence a severe shortage […]
For more content on our strategy, visit the archives GO TO ARCHIVES