Marcellus Global Compounders Newsletters

Strategy Series

Our articles specific to the six investment strategies we offer. Whether you invest with us or are looking to invest, these
articles can you give you an insight into why we make the decisions we make.

Global Compounders

Global Compounders Portfolio: Resilience Amidst Chaos

Marcellus’ Global Compounders Portfolio (GCP) strategically invests in 25-30 deeply moated global companies aligned with megatrends, fostering a consistent mid to high teens compounding of free cash flow/earnings. Amidst an increasingly uncertain global macro landscape, our proprietary Torque based positioning favors defensive stocks that deliver higher than GDP growth with low earnings volatility – as […]

Global Compounders DEC 05 . 10 MIN READ

Global Compounders Portfolio: First Anniversary Review

Global Compounders OCT 24 . 11 MIN READ

Unleashing the Power of ‘Owner Operators’ to create Wealth for our Clients

Global Compounders AUG 28 . 15 MIN READ

Unlocking Wealth Creation Through External Capital Allocation – An Underappreciated Phenomenon

Global Compounders

Global Compounders Portfolio: Resilience Amidst Chaos

Feb 12 . 9 MIN READ READ MORE

Global Compounders

Global Compounders Portfolio: First Anniversary Review

Marcellus’ Global Compounders Portfolio (GCP) strategically invests in 25-30 deeply moated global companies aligned with megatrends, fostering a consistent mid to high teens compounding of free cash flow/earnings. As GCP reaches its first birthday, we reflect on our journey. Despite the brief time span, it’s reassuring to witness the portfolio’s progress aligning with our expectations, […]

Dec 05 . 10 MIN READ READ MORE

Global Compounders

Unleashing the Power of ‘Owner Operators’ to create Wealth for our Clients

Marcellus’ Global Compounders Portfolio (GCP) strategically invests in 25-30 deeply moated global companies listed in developed countries, leveraging their products and services aligned with global economic megatrends, fortified by exceptionally solid moats. These elements contribute to the consistent compounding of free cash flow/earnings in the mid-to-high teens. Here, we spotlight the investment philosophy known as […]

Oct 24 . 11 MIN READ READ MORE

Global Compounders

Unlocking Wealth Creation Through External Capital Allocation – An Underappreciated Phenomenon

Marcellus’ Global Compounders Portfolio (GCP) invests in 25-30 deeply moated global companies listed mostly in developed countries and other global markets. These companies have dominant franchises which benefit from global economic megatrends and rational capital allocation by the management teams running these firms. These elements help the GCP companies drive an annual increase of approximately […]

Aug 28 . 15 MIN READ READ MORE

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The Gold List

The best collections from the Marcellus Library

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Curated Collection

HANDPICKED ARTICLES FOR OUR ACTIVE INVESTORS

Consistent Compounders

How Volatile Funds Cost Investors Dear

High volatility in an equity portfolio creates zones of ‘excitement’ and ‘fear’ based on recent performance. This adversely affects the quality of decision making by equity investors. As a result, historically, investor returns in Indian equity funds have been lower than fund returns across different periods. Similarly, a recent example from the US – NYSE […]

Feb 01 . 6 MIN READ READ MORE

Consistent Compounders

The Benefits of Timing are Inversely Correlated with the Quality of Fundamentals

The rate at which fundamentals of a company compound (and hence its share price) over the long term is inversely correlated with the quantum of benefit that an investor can achieve by perfectly timing her purchases at the bottom of the share price trajectory. Moreover, for a portfolio consisting of high-quality companies, benefits from a […]

Jan 03 . 8 MIN READ READ MORE

Consistent Compounders

CCPs use more ‘S-curves’ to elongate their fundamental compounding

Value addition from every initiative undertaken by a company follows an ‘S-curve’ with three parts to it – the investment phase, the growth phase and the fade period. The fundamentals of the overall company are a consolidation of ‘S-curves’ of all initiatives. There are several limiting factors to every initiative such as addressable market size, […]

Dec 01 . 8 MIN READ READ MORE

Consistent Compounders

The Path to Consistent Compounding is Paved with Free Cashflow

There are four key drivers of free cashflow in a business – revenue growth, profit margins, working capital efficiency, and asset turnover. The order of importance across these four drivers differs across businesses. As Marcellus’ CCP companies invest in technology to improve operational efficiencies, those companies that sell day-to-day essentials to their customers whilst avoiding […]

Nov 02 . 17 MIN READ READ MORE

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Global Compounders

Modern Utilities Operating on a Global Scale Make for Lucrative Investments.

Strategy Series

Global Compounders Portfolio: Resilience Amidst Chaos

Global Compounders Portfolio: First Anniversary Review

Unleashing the Power of ‘Owner Operators’ to create Wealth for our Clients

Unlocking Wealth Creation Through External Capital Allocation – An Underappreciated Phenomenon

Global Compounders Portfolio: Resilience Amidst Chaos

Global Compounders Portfolio: First Anniversary Review

Unleashing the Power of ‘Owner Operators’ to create Wealth for our Clients

Unlocking Wealth Creation Through External Capital Allocation – An Underappreciated Phenomenon

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