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92 articles. Educational only: none of these is a research report or a recommendation.
The Planning Fallacy is the systematic tendency of human beings to underestimate the time, cost, and risk of future actions while simultaneously overestimating the benefits of…
The Reinvestment Rate is the percentage of a company’s after-tax operating profit (NOPAT) that management ploughs back into the business in the form of net capex…
Pick a stock you “feel good” about. Pick a stock you “feel bad” about. Now ask yourself: did the feeling come before or after you looked…
The Sales-to-Gross-Block Ratio is an asset-efficiency measure. It tells you how many rupees of revenue a company has produced for every rupee of gross fixed assets…
If a fund is described as “90% of investors retain capital” you commit. If the same fund is described as “1 in 10 investors lose capital”…
The number of registered investors on the National Stock Exchange has crossed eleven crore in 2026, up from roughly three crore in 2020 — a 3.7x…
Gross Block is the cumulative original cost of every item of property, plant and equipment a company has ever bought or built — buildings, machinery, vehicles,…
The Securities and Exchange Board of India’s longitudinal study on the Futures & Options segment confirmed what disciplined long-term investors have suspected for years: roughly 9…
In 1975, Harvard psychologist Ellen J. Langer published a paper in the Journal of Personality and Social Psychology with a deceptively simple title: “The Illusion of…
The Securities and Exchange Board of India’s January 2024 study on individual traders in the equity Futures & Options segment is now the single most-cited statistic…
Accounting goodwill is the residual figure that lands on a balance sheet when one company pays more than fair book value to acquire another. It is…
The gambler’s fallacy is the belief that an independent random event is “due” because it has not happened recently. After ten coin flips landing on heads,…
And yet, 11 crore investors and rising — most of them new to equities — are walking into Dalal Street with the bluntest, most over-used number…
Most Indian investors who have read a few value-investing books know three names by heart: Benjamin Graham, Warren Buffett and Charlie Munger. A few will throw…
If you ask an Indian retail investor, “What return will your favourite small-cap stock deliver over the next five years?” you will almost always get a…
According to the latest SEBI study on individual traders in the equity Futures & Options segment, 9 out of 10 lose money. Combine that with the…
In 1991, on stage at the University of Notre Dame, Warren Buffett offered a single thought experiment that, if taken seriously, would have saved Indian retail…
Most retail Indian investors stare at the share price 50 times a day and never look at the book value once a year. That single habit…
There is a kind of investment outcome — both spectacular wealth-creation and spectacular wealth-destruction — that no single explanation ever fully accounts for. The 2008 Lehman…
Action bias is the systematic, cross-cultural human tendency to favour action over inaction even when inaction is the statistically superior choice. The bias kicks in hardest…
EBITDA Margin tells you, in a single number, what fraction of every rupee of revenue a business converts into earnings before paying interest, taxes, depreciation, and…
One of the most useful sentences ever written about equity investing is buried in a 1977 Fortune essay titled “How Inflation Swindles the Equity Investor”. Warren…
If you can imagine, in vivid and unflattering detail, the precise way an investment will fail before you ever click “Buy” — and write that obituary…
Warren Buffett has called it “the single most important number in business analysis.” Charlie Munger built much of Berkshire’s bolt-on acquisition discipline around it. Indian equity…
The securities quoted in these articles are for illustration only and are not recommendatory. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.