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Wilful destruction of the world’s most powerful economic engine
Wilful destruction of the world’s most powerful economic engine Sitting in my favourite armchair, far from the shenanigans of the US president, one can only watch with shock and awe – the haphazard (or is it systematic?) devastation of an economy that has dominated the world for almost a century. Ever since World War II,… Continue reading
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Have we moved the valuation goalposts?
Investing’s golden rule is simple: buy cheap! Every investment guru has said this — sometimes in books, sometimes on Twitter, sometimes while sipping Cherry Coke. In other words: buy cheap. Easy, right? Then why do we keep forgetting this the moment the market turns green? I admit – judging valuations is not easy, given the… Continue reading
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Is the distribution moat drying up?
Investing history has it that Warren Buffet popularised the usage of the word “moat” to simplify or explain the idea of a company’s competitive advantage. The width or impregnability of the moat is what makes businesses more durable. And in today’s investing literature, “moat” is almost de rigueur. Every broker, analyst or their cousin trying… Continue reading
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Ease of Doing Tourism
Tourism is never long out of the news. But this news coverage seems to be stuck in a loop – at least for the last 40-odd years since I started reading business news. The loop consists of the following elements: And if it’s not advertising, then poor infrastructure (airports and hotels) is blamed. And much… Continue reading
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Is 6.5% Growth Making India Complacent?
What if India’s economic achievement is also its biggest trap? This thought hit me while chatting with a fund manager friend a couple of days ago, about the pace of reform. Nowadays, we hear ad nauseam about India being the fastest-growing “large” economy. And this, despite the fierce headwinds from global economic crises. It’s not… Continue reading
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One Nation, Many Elections
Recently, the government proposed the “One Nation One Election” (or 129th Constitution Amendment Bill) for simultaneous elections to the Lok Sabha & Vidhan Sabhas. Naturally, this being India, the proposal has sparked controversy, outrage, memes, and the usual quota of shouting matches on TV and outside parliament. Proponents cite the huge cost savings, and “Netas”… Continue reading
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Trump’s gift to Indian education
Policy reforms opened the door to foreign universities in India. Trump may have provided the push that finally gets them through it. According to official estimates, around 1.33 million Indians were studying abroad in 2024. That’s a pretty large number, but not at all surprising. The bulk of these were in Anglophone countries – Canada,… Continue reading
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Market Cap Muddle
Do large-cap or mid-cap definitions make any sense? Before 2017, there was no “official” definition of mid-cap or large-cap stocks. Different analysts, brokers and fund managers used their own definitions, leading to considerable confusion. Non-standard definitions meant that similar mutual fund schemes, e.g., large-cap funds, used different norms. This not only made it difficult to… Continue reading
