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.

MeritorQ PMS
MeritorQ: A Deeper In-Depth Look At MeritorQ’s Forensic Model

MeritorQ uses forensic ratios to evaluate the accounting quality of Indian companies. As we highlighted in our February newsletter – Forensic Accounting Using Quant Methods Boosts Returns – our accounting checks can identify accounting frauds well in advance of the actual drawdown event. Using the specific examples of two companies in this newsletter, we discuss how accounting […]

MAR 15 . 9 MIN READ READ MORE
MeritorQ PMS FEB 13 . 11 MIN READ
MeritorQ: Forensic Accounting Using Quant Methods Boosts Returns
READ MORE
MeritorQ PMS JAN 11 . 10 MIN READ
MeritorQ: The Power of Checklists
READ MORE
MeritorQ PMS DEC 08 . 8 MIN READ
MeritorQ: Strength Lies in Numbers
READ MORE
MeritorQ PMS

MeritorQ: A Deeper In-Depth Look At MeritorQ’s Forensic Model

MeritorQ uses forensic ratios to evaluate the accounting quality of Indian companies. As we highlighted in our February newsletter – Forensic Accounting Using Quant Methods Boosts Returns – our accounting checks can identify accounting frauds well in advance of the actual drawdown event. Using the specific examples of two companies in this newsletter, we discuss how accounting […]

Mar 15 . 9 MIN READ READ MORE
MeritorQ PMS

MeritorQ: Forensic Accounting Using Quant Methods Boosts Returns

Over the past 16 years, the average return of market cap weighted BSE 500 index has been 10.3% p.a. on a 3-year rolling basis. But the story changes completely when we differentiate between the index constituents based on their accounting quality. There is a clear deterioration in returns and a rapid increase in risk and […]

Feb 13 . 11 MIN READ READ MORE
MeritorQ PMS

MeritorQ: The Power of Checklists

Most of us have used a checklist at some point. Humans need checklists because most of us have imperfect recall. Checklists provide a cognitive safety net. They prevent us from having to suffer due to our flaws —flaws of memory, attention, and thoroughness. Checklists have been found to be effective in performing complex tasks in varied […]

Jan 11 . 10 MIN READ READ MORE
MeritorQ PMS

MeritorQ: Strength Lies in Numbers

The operational efficiency of the quantitative approach we take in MeritorQ allows us to analyze and rank  stocks over a large investment universe on a consistent set of metrics. Ranking over a large peer group of  companies magnifiesthe power of statistical analysis and hence the reliability of the screening and selection  steps. Another benefit of […]

Dec 08 . 8 MIN READ READ MORE

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The Gold List

The best collections from the Marcellus Library

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Amidst high input cost inflation, pricing power protects margins & market share of CCPs

Mar 10, 2022 WATCH NOW

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Arvind Kapil, R Lakshminarayan & Anjani Rathor – Imp of Tech as a source of competitive advantage

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Consistent Compounders

When ‘Loss Aversion’ Meets ‘Time Horizons’ in Equity Investing

Investors’ decision making is often underpinned by a key psychological trait – loss aversion. As explained by  Noble laureate Daniel Kahneman, the result of ‘loss aversion’ is that our pain from losses is more than twice  the joy from equal amounts of gain. Juxtaposing this idea to the CCP investing approach discussed in our  book […]

Feb 06 . 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

FEATURED BLOGS

Busting Popular Macroeconomic Myths

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Feb 21 . 5 MIN READ READ MORE

Asian Paints vs Sherwin Williams: Different Paths to Dominance

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Jan 25 . 10 MIN READ READ MORE

The Best Newsletters of 2021

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Dec 29 . 5 MIN READ READ MORE

Recommended Reads

Some of our best reads you shouldn’t miss on Marcellus

Portfolio Performance and Update on Fundamentals August

Sep 18 . 9 MIN READ READ MORE

Learning from history: Discounting in Financial Services is a bad strategy

Sep 07 . 11 MIN READ READ MORE

Why MeritorQ has 30-45 stocks?

Aug 29 . 5 MIN READ READ MORE

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