Dalal Street Rules – Year 2017
Year 2017 – The gloom and doom pundits were in business in India. A famous fund manager said demonetization would result in the economy crashing albeit may be for few quarters but the effect would be as extreme as a... Read More →
Annual Investor Letter – 2019-20
Dear Investors, It would be an understatement to say that we live in unprecedented times. While we have seen our share of local epidemics like SARs, MERs, Swine Flu etc. a pandemic of this magnitude was last seen over a... Read More →
The Most Awaited Bear Is Here. But there is no reason to panic.
Dear Investors and friends, This last few weeks are perhaps the most volatile and fastest markets have been in post 2008. We have the distinction of seeing the fastest fall in stock market history ever. In 19 trading sessions most... Read More →
Dalal Street Rules – Year 2011
World Cup is getting hot, Dhoni hits the winning shot. Kalmadi thinks we are retards, Raja gets a "go to jail" card. Anna fasts for Lokpal, Mamata wins her first election in Bengal, S&P Downgrades US Treasuries, adds to our miseries.We... Read More →
Dalal Street Rules – Year 2010
BJP’s blown away, Manmohan has his say, CAG smells a scam, Run as fast as you can. Coal Blocks, Spectrum locked, Games can, feed the flock. In June 2009, Congress came back with a much larger seat tally than was... Read More →
Dalal Street Rules – Going Quant
Background: Efficient Market Hypothesis Vs Factor Investing Efficient Market Hypothesis (EMH) and Bill Sharpe and his Capital Asset Pricing Model (CAPM) model were the accepted framework for evaluating expected returns from stocks for almost 3 decades between 1960 and 1990.... Read More →
Dalal Street Rules
Prologue – Circa 2008 I made a mistake in presuming that the self-interest of organisations, specifically banks and others, was such that they were best capable of protecting their own shareholders. Alan Greenspan, Oct 2008, Congressional Hearing Post the Great... Read More →
Ben Graham was a Quant or Systematic Rule Based Investing
What is Quantitative Investing ? Quantitative investing attempts to reduce the investment process to its scientific and statistical core, eliminating emotional, human judgment from the equation as much as possible. This quantitative investment process is also known as systems based... Read More →