Insights
Writing on DCF valuation, XIRR, capital gains, and the mindset of fundamental investing in Indian equities. We publish no tips and no price calls.
"Market sentiment is like a pendulum, swinging between fear and greed." The quote may be right to some extent, but it is not an incredibly useful metaphor. Investors need a more nuanced model to do well.
Read articleThe simplicity of investing is proportional to the quantum of return one is aiming for over long periods of time. High returns are achievable, but it is a far more involved process.
Read articleIf you manage your own or other people's money, this is a question worth pondering. The honest answer is that you may not know for 8 to 10 years, and here is why your look-back returns mislead you in the early years.
Read articleAny investing strategy not backed by conviction will fail in the medium term. Here is a simple test to check the quality of your decision before putting money in.
Read articleValuation isn't as simple as P/E or EV/EBITDA ratios suggest. To build a portfolio that actually performs, you need to grasp three foundational concepts: cashflow accounting, time series of intrinsic value, and enterprise value.
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