Blog · Page 9
Plain-English lessons on judging businesses, reading annual reports and staying patient — 370 articles and counting, a new one most mornings. Educational only: none of these is a research report or a recommendation.
Return on Equity (RoE) is the single most-quoted profitability ratio in Indian investing — and the most dangerously misunderstood. A brokerage WhatsApp group will scream “this…
You remember every stock you bought that went up. The 3x gain on that mid-cap chemical play? Clearly a product of your research. The 7-bagger in…
The lesson buried inside those numbers is simple: most market participants are taking directional bets on price without ever opening the balance sheet. Working-capital metrics are…
Benjamin Graham taught us the grammar of value investing; Warren Buffett gave us its governing metaphor. In his 1997 letter to Berkshire Hathaway shareholders, Buffett reached…
Capacity Utilisation becomes more useful when investors translate it into audited numbers, cleaner disclosure, and better minority-shareholder readability.
Imagine you meet Ramesh, a 34-year-old software engineer in Bengaluru. He reads two books a year on investing, watches a 15-minute market video every morning, and…
The Debt-to-Equity Ratio measures how much external borrowed capital a company uses relative to the capital supplied by its owners (shareholders). In the simplest language: for…
The most useful question a value investor can ask is not “how do I get rich?” It is the exact opposite: “how do I make absolutely…
Switching Costs becomes more useful when investors translate it into audited numbers, cleaner disclosure, and better minority-shareholder readability.
Millions of YouTube finance podcasts. Zero documented life changes. Yet numerous followers of my work report their financial lives have changed, and my CAGR is in…
In 1958, an unassuming San Francisco money manager named Philip A. Fisher published a book that would quietly rewire value investing. In Common Stocks and Uncommon…
Ask any Indian retail investor in April 2026 to name three “interesting” stocks. The names that come up are almost always the stocks that dominated the…
Segment reporting looks boring until it saves you from believing the wrong story. A company can report healthy consolidated revenue, respectable profit, and a confident management…
Buffett’s concern was straightforward. Generally Accepted Accounting Principles (and their Indian equivalent, Ind AS) require companies to report a net profit figure that includes non-cash charges…
Barber & Odean's Nobel-adjacent 2000 study, validated by SEBI's 2024 evidence that ~93% of Indian retail F&O traders lose money, explains the meta-bias that makes every…
Deferred tax can quietly change how reported profit should be read. The line is less about jargon and more about timing, profit quality, and whether management…
A rights issue can preserve minority ownership or quietly dilute it. The difference lies in why the company needs money, how management behaves, and whether investors…
Ask a room of 100 retail investors in Chandigarh, Mumbai, or Bengaluru a single honest question: “If you received ₹50,000 as a Diwali bonus and another…
Most Indian investors read the headline profit, glance at the EPS, and close the annual report. They never scroll to Note 38 — or whichever note…
India consumed roughly 453 million tonnes of cement in FY25, up 6.3% from 426 million tonnes a year earlier, and CRISIL now pegs FY26 demand growth…
The single most dangerous mistake in Indian value investing is valuing a company on a single year’s earnings. That year could be a cyclical peak. It…
Every value investor eventually runs into the same painful question: how do you value a quality Indian business when its earnings have temporarily collapsed? Think of…
Nassim Taleb's barbell strategy teaches Indian value investors to combine 80-90% ultra-safe assets with 10-20% high-upside quality small-caps for a truly antifragile portfolio.
Michael Porter's Five Forces framework decodes industry structure before stock selection. Rivalry, entry barriers, supplier and buyer power, and substitutes determine whether industries create or destroy…
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.