stock market
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Markets, Madness and Melody
The “Efficient Market Hypothesis” (EMH) became hugely popular in the seventies and influenced market thinking for a long time (it still does). Essentially, it postulates that markets are efficient, and prices reflect all available information at any given time, so outperformance can only be achieved by taking more risk. EMH gained popularity because it was… Continue reading
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The Index Is Flat. The Market Isn’t.
Markets rarely behave the way we expect them to. From a Covid low of <26k in March 2020, the Sensex crossed 70k in December 2023, and peaked around 86k in September 2024. Many believed the party would never end. But since then, the index has stayed in a range of 73-86k for almost two years.… Continue reading
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Indian of the Year 2025
Awards or titles are usually controversial. Only one wins, while all the others are unhappy. Take Donald Trump, still upset about not getting the Nobel prize despite “stopping” several wars. So much so, that he abducted a President. But this article is not about Mr. Trump, despite his best efforts. This is about a strong,… Continue reading
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Are IPO investors really that irrational?
In recent weeks, much has been written about the great IPO frenzy of 2025, with analysts and fund managers warning retail investors not to take undue risk. The latest trigger has been the Lenskart IPO, which many wise men have termed as being excessively overvalued. Yet, when I read most of the doomsayers and experts,… Continue reading
