Krishnan V R
Krishnan leads the Quantitative Research team at Marcellus.
Krishnan leads the Quantitative Research team at Marcellus. He has around 10 years of experience spanning both equity and fixed income research. Prior to Marcellus, he was part of the New Indexes Development team at Morningstar, where he was involved in creating systematic, rules-based equity and multi-asset investment products. Before that, he was an equity analyst with D.E. Shaw & Co. and a credit analyst at Goldman Sachs Asset Management (GSAM) EM Corporate Debt Team.
Qualification: Krishnan has completed his MBA from IIM, Kozhikode and Engineering from NIT Trichy. He is also a CFA charter holder.
Articles by team Marcellus
MeritorQ: Low-Risk Investing with Sound Fundamentals
In this newsletter, we discuss the so called “low-risk” anomaly which posits that high beta (or high risk) stocks underperform low beta or (low risk stocks) over the long term i.e. there is NO extra return to be earned from owning riskier stocks. We show that this low-risk anomaly works in India as well. In this context, […]
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Indian Banks Don’t Need More Regulation, They Need More Leverage
Indian banks are often criticized for maintaining higher net interest margins (NIMs) compared to their global peers. However, despite higher NIMs, Indian banks’ average RoE of 6.9% over the past decade lags the average RoE of G7 countries’ banks of 9.2%. More importantly, Indian banks have one of the lowest excess return (RoE less 10-year […]
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White Collar Jobs Growth & Wage Growth: Twin Drivers of India’s Slowdown
From Diwali 2023 onwards, Indian companies’ earnings growth has decelerated at a rapid rate. Underpinning this deceleration is a sharp conk-off in consumption growth, long the mainstay of the Indian economy. Key drivers of this consumption downturn are a sharp deceleration in white collar job creation alongside a reduction in real wages for white collar […]
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