Equity

The impending value migration

It was the best of times, it was the worst of times
– Charles Dickens, A Tale of Two Cities

Tell me where I am going to die, so I will never go there

The above quote is attributed to Charlie Munger, universally acknowledged as amongst the wisest men in Investing.

The danger of 1 Year Forward Multiples

A common tendency while gauging valuation of companies is to estimate the one year forward multiple at which they trade. Our core investment approach is to “Buy Quality Companies at Fair Valuations”.

Is it time for contrarian bets on select companies in the Power Sector?

The power sector in India has been in the dog house for many years. High distribution losses and unbilled power has resulted in bankrupt SEBs (State Electricity Boards).

Indian Pharma industry: Implications of recent developments

Indian pharma leaders – for example Sun and Lupin- have witnessed a 25% price erosion from their highs. Are there structural challenges to growth or just a one off? What are implications for investors?

Why buy quality – a lesson from college days

Over the last weekend, I met friends from Engineering School days, some I had not seen for over 20 years. As copious amounts of beer was imbibed, we exchanged memories and achievements of our cohort of 1995.