‘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 […]
The Complete History & Strategy of TSMC
Podcasts have increasingly become the primary source of learning for many, partly because of the convenience of listening to it while on a run or in the gym or on commute as opposed to reading. This podcast by Ben and David in particular is very extensive in terms of background research on the topic of […]
Review of “Greed is Dead” by Sir John Kay & Sir Paul Collier and Priyanka Chopra’s latest adventure in America
We read “Greed is Dead: Politics After Individualism” over our summer holidays and whilst we loved the book, we did not bring it to your attention because we weren’t certain that you would be interested in the subject. However, having seen Priyanka Chopra’s latest misadventure in America, we felt we should bring this book to your attention […]
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