Three Longs & Three Shorts

Dec 2021

Week 1

Short Read

Published on 05 Dec, 2021

Enticing cricket toss proposal could give each side ...

There is always an element of luck in everything we do. But in the field of sport sometimes the role of luck might seem...

Published on 05 Dec, 2021

Charlie Penner, the Investor Reshaping Exxon Fro the...

At Marcellus, we often remind ourselves that the larger purpose of investing is beyond just generating returns or...

Published on 05 Dec, 2021

Omicron SARS-CoV-2 variant: a new chapter in the COV...

Whilst it is early days for us to have a definitive view on the new Covid variant – Omicron, we are all eager to know...

Long Read

Published on 05 Dec, 2021

Howard Marks: The Winds of Change

“When I see memos from Howard Marks in my mail they’re the first thing I open and read” is an oft cited quote...

Published on 05 Dec, 2021

Why Every Entrepreneur Should Study the Austrian Sch...

One of the most frustrating things about studying Economics is that has no conception of entrepreneurship because in a...

Published on 05 Dec, 2021

Sunder Genomal, the man who brought ‘Jockey...

At Marcellus, we have a large position in Page Industries, the Indian franchisee of Jockey undergarments. We have...

Nov 2021

Week 4
Week 3
Week 2
Week 1

Short Read

Published on 28 Nov, 2021

What if the Fed is Wrong?

The unprecedented amount of monetary and fiscal stimulus in the developed world has not only pulled the global economy...

Published on 28 Nov, 2021

Chief executives are weirder than ever

The role of the CEO has always been demanding. But with changing times, it has only become tougher, says this piece in...

Published on 28 Nov, 2021

Why staring at screens is making your eyeballs elong...

The emergence of smartphones had already increased the amount of time we spend staring at screens even before the...

Long Read

Published on 28 Nov, 2021

How to play the long game

Jeff Bezos reportedly said that the easiest way to eliminate competition is by prolonging your time horizon of focus,...

Published on 28 Nov, 2021

iPhone repair is Apple’s long overdue innovation and...

You don’t have to be environmentally minded to hate throwing away stuff. Common sense suggests that discarding phones...

Published on 28 Nov, 2021

Richard Rusczyk’s Worldwide Math Camp

If you have passion, purpose and the courage to walk down the path less trodden, the internet gives you ways to the...

Short Read

Published on 21 Nov, 2021

In praise of my favourite athlete – the amateur

Some of us are fortunate enough to continue playing amateur sport well into our 40s and can relate to this delectable...

Published on 21 Nov, 2021

How to Stop Caring What Other People Think of You

Arthur Brooks is a Harvard professor on leadership and also hosts a podcast series titled How to Build a Happy...

Published on 21 Nov, 2021

GE and the Belief in Management Magic

At Marcellus, we look for three characteristics in companies before investing – clean promoters (being fair to...

Long Read

Published on 21 Nov, 2021

The Exponential Age Will Transform Economics Forever

Albert Einstein is often attributed with the quote of compounding being the eighth wonder of the world. Wonder, because...

Published on 21 Nov, 2021

Experts from a world that no longer exists

Whilst growing up, almost all of us learn from books written by the previous generation. In fact, in India it is...

Published on 21 Nov, 2021

How Arvind Lal built a single lab into India’s...

We have a significant stake (by our standards) in Dr Lal Pathlabs and have as a result had the good fortune to meet the...

Short Read

Published on 14 Nov, 2021

The welcome spread of assisted dying

Euthanasia or ‘assisted dying’ as it is called these days is becoming legal in more and more countries. Liberals...

Published on 14 Nov, 2021

A look at the metaverse through four lenses of a met...

We have featured pieces on the Metaverse in recent months, about what they mean by it and what implications it may have...

Published on 14 Nov, 2021

How to Invest Your Money When Inflation is High

The dreaded inflation print is out. Earlier this week, the US Labor department reported that Consumer Price Inflation...

Long Read

Published on 14 Nov, 2021

Sequoia’s Crucible Moment – Podcast with partner Roe...

The venture capital industry has never had it better. The last three decades has seen technology led disruption of long...

Published on 14 Nov, 2021

Crook, TRP-hunter, idiot, clown: How Indian journali...

The world over, journalism has lost the prestige that it used to enjoy in the previous century. Whilst in this piece...

Published on 14 Nov, 2021

What is it about Peter Thiel?

Over the past 20 years Peter Thiel has been one of the most unusually influential figures of our era of technological...

Short Read

Published on 07 Nov, 2021

FILE NOT FOUND – A generation that grew up wit...

Author: Monica Chin Source: The Verge...

Published on 07 Nov, 2021

The dawn of the quantitative tightening era?

Authors: Robin Wigglesworth Source: The Financial...

Published on 07 Nov, 2021

Hot Streaks in Your Career Don’t Happen by Accident

Author: Derek Thompson Source: The Atlantic...

Long Read

Published on 07 Nov, 2021

The Same Stories, Again and Again

Author: Morgan Housel Source: Collaborative Fund...

Published on 07 Nov, 2021

Is Amazon Changing the Novel?

Author: Parul Sehgal Source: New Yorker...

Published on 07 Nov, 2021

Cult figure of investing one of few to grasp early p...

Authors: Miles Johnson and Jamie PowellSources: Financial Times...

Oct 2021

Week 5
Week 4
Week 3
Week 2
Week 1

Short Read

Published on 31 Oct, 2021

The most brilliant bookshops in the world

Good old physical bookshops have been shutting down across the world, partly driven by the convenience of buying online...

Published on 31 Oct, 2021

Cadbury ad shows how the ad industry is becoming AI-...

Cadbury ads have always invoked emotions of warmth with a social messaging underpinning it, especially the ones around...

Published on 31 Oct, 2021

How the Supply Chain Broke, and Why It Won’t Be Fixe...

With the recent FOMC minutes revealing that the Fed is ready to taper, thanks to the persistently high inflation much...

Long Read

Published on 31 Oct, 2021

The Korean Invasion – Can Cultural Exports Giv...

The Korean TV series, Squid Game is already the world’s most popular TV series with Netflix making almost a billion...

Published on 31 Oct, 2021

The Art of (Not) Selling

Whilst there are many privileges to being a Marcellus employee, one of the most tragic aspects of our job is watching...

Published on 31 Oct, 2021

‘The Custodian of Trust: A Banker’s Memoir’

The former Chairman of SBI, Rajnish Kumar, has written an interesting book recounting the highlights from his stint at...

Short Read

Published on 24 Oct, 2021

Air India and the Maharajah Man

The sale of Air India (back) to the Tatas is likely to go down as an epic moment in India’s political economic...

Published on 24 Oct, 2021

time millionaires: meet the people pursuing the plea...

The eternal debate of work vs leisure has attained greater proportions during the pandemic. The 3L&3S has featured...

Published on 24 Oct, 2021

Bill Miller 3Q 2021 Market Letter

As it is, the first question in a client pitch is our thoughts on how the market is likely to pan out in the near...

Long Read

Published on 24 Oct, 2021

Intel slipped—and its future now depends on making e...

The semiconductor industry, which touches every aspect of our lives now – from cars to electronic gadgets to our...

Published on 24 Oct, 2021

Review of ‘The Brains and Brawn Company: How Leading...

As more consumer internet IPOs head for the Indian stockmarket, we are asked by Marcellus’ clients whether our...

Published on 24 Oct, 2021

Secret of Dhoni’s success: Simplicity and clarity

As one of our heroes, Rahul Dravid, heads towards high office in Indian cricket, we highlight this superb piece from...

Short Read

Published on 17 Oct, 2021

Don’t Wish for Happiness. Work for It.

Arthur Brooks writes this wonderful column for The Atlantic about “How to Build a Life” – in this piece he argues...

Published on 17 Oct, 2021

All about setting up a living trust

Some of our clients who manage their own investments rather than with the help of a wealth manager seem to struggle...

Published on 17 Oct, 2021

Shein exemplifies a new style of Chinese multinational

Robert Siegel’s new book “The Brains and Brawn company” talks about how neither the new age all-digital company...

Long Read

Published on 17 Oct, 2021

The Triumph and Terror of Wang Huning

As we continue to peel the layers of the Chinese onion, we found this brilliant piece which attempts to answer what is...

Published on 17 Oct, 2021

How to write with style

At Marcellus we care deeply about thinking, talking and writing clearly. Not only does it allow us to communicate...

Published on 17 Oct, 2021

Electric vehicles: the revolution is finally here

The last 12 months has seen an extraordinary surge in demand for EVs – not just expensive EVs like Tesla but also...

Short Read

Published on 10 Oct, 2021

Valuing stocks: why investors should look harder at ...

Valuing stocks is often a tricky exercise which is why most market participants take the easy route of using multiples,...

Published on 10 Oct, 2021

How ‘The Queen’s Gambit’ Started a...

At last month’s Emmy awards, Netflix won a whopping 44 awards compared to HBO’s 19 showing how streaming TV had...

Published on 10 Oct, 2021

Xi’s Changing Plan

Plenty has been written and plenty more will be written about the Chinese unravelling starting with the failed Ant...

Long Read

Published on 10 Oct, 2021

How a stellar team of economists transformed India i...

Often economists are criticised for lacking a practical approach to policy making given the reality of the political...

Published on 10 Oct, 2021

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...

Published on 10 Oct, 2021

NFRA’s R Sridharan: Loose drafting of law and muddle...

As we learnt from our recent trip to New Delhi, there is a massive punch-up playing out at present for control of the...

Short Read

Published on 03 Oct, 2021

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...

Published on 03 Oct, 2021

Jeremy Grantham warns of an epic market bubble, bemo...

Jeremy Grantham, the co-founder and chief investment strategist of the iconic fund management firm Grantham, Mayo &...

Published on 03 Oct, 2021

Dangerous Feelings

The title is counter intuitively apt in the sense it refers to seemingly innocuous behaviour of ours that can be quite...

Long Read

Published on 03 Oct, 2021

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...

Published on 03 Oct, 2021

How the World Bank scandal is linked to Xi Jinping r...

As each week brings incremental news of the ongoing unravelling of same facet of China – either its overleveraged...

Published on 03 Oct, 2021

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...

Sep 2021

Week 4
Week 3
Week 2
Week 1

Long Read

Published on 05 Sep, 2021