Identifying Emerging Moats : Part 1

GUEST POST   Markets has no place for eternal cynics/pessimists and an generally optimism is a good trait to have but overoptimism has killed more investors than those who have benefited. Often a balance of optimism and careful cynicism for a large amount of BS that exists, is needed to be a level headed investor. I enjoy conversing with investors who have the talent to…

Fund Management BS Meter

Fund Management is a funny business. A person who wants his money to be managed, always cries about the management fees the fund manager (PMS) is charging. The mutual fund investor cries about the fund management fees. The messiahs of small investors keep on showing how much money the fund manager will take if he gives this much return in this much period and so on.…

Inception

Lately, few of my friends advised me to succumb to my sadist tendencies. Hence, in that spirit, I have decided to be regular in my writing endeavor and inflict torture on readers on a regular basis. My struggle to find the best way to do this, led to the inception of 2 different series, which I am going to write on a fortnightly basis.  …

Favourite commencement speeches

Few days back Michael Burry gave the commencement speech at UCLA. He is one of the few independent thinkers in the investment world and have been popularized by Michael Lewis book “the big short”, a wonderful account of people who profited from subprime mortgage crisis. After going through the speech, I also decided to revisit some of the older commencement speeches I enjoyed listening to.…

George Soros: The new paradigm for financial markets

Usually you will not find George Soros books in the library of a devoted value investing practitioner who is more likely to have the shelf filled with Buffet, Graham, Peter Lynch, and likes.. Even I managed to read Soros only after reading the above mentioned gurus and when I realized that the ‘marginal utility’ of reading another book on buffett has reduced dramatically. Even though I…

Fallacy of academic economics and other subjects

Often in the classrooms Economics is taught to us in a very scientific manner. It tries and establish generalized theories that can be used to explain economic phenomena.   To develop such a theory, we start with postulates and assumptions and from then on all the conclusions are derived by logical and mathematical calculations. For example lets look at the “theory of perfect competition” which…

“Realty” strikes hard !!!

Its interesting times in Indian political and economic scenario and stock markets… Every day there is atleaast a couple of headlines with threatning words like “Fraud, Investigation, Arrests , CBI etc “… and the market of the companies involved goes -5%, -10% and so on.. But the biggest of all the scams that brought a lot of “cockroaches of the kitchen” out in light is…