How ‘The Queen’s Gambit’ Started a New Debate About Sexism in Chess
At last month’s Emmy awards, Netflix won a whopping 44 awards compared to HBO’s 19 showing how streaming TV had come around to dominate. A quarter of those came from the brilliant limited series “The Queen’s Gambit” about a female chess player and the struggles she faced on her path to glory. This article in […]
Xi’s Changing Plan
Plenty has been written and plenty more will be written about the Chinese unravelling starting with the failed Ant Financial IPO to the crackdown on edtech companies and most recently the collapse of real estate developer Evergrande. Yet, the opacity of the Chinese regime means it isn’t easy to get to the reality on the […]
How a stellar team of economists transformed India in the 1990s
Often economists are criticised for lacking a practical approach to policy making given the reality of the political economy. But this is a story to the contrary, about how a team of economists were instrumental in transforming the Indian economy from the brink in the 90’s, a decade that saw the rise of coalition politics. […]
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 […]
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