By now, we all know what happened to Silicon Valley Bank - in the age of social media, you just can't escape it even if you wanted to. Over the last week, almost every tweet in my feed has been about Silicon Valley Bank and the regional bank crisis in the US. There are numerous … Continue reading Is the Fed responsible for the collapse of Silicon Valley Bank?
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The forgotten fundamental
Below is a link to the transcript of a presentation I gave on inflation and interest rates and their impact on intrinsic value. The Forgotten Fundamental
Thoughts on Intrinsic Value
Below is a link to the transcript of a presentation I gave on intrinsic value. Thoughts on Intrinsic Value
Back to basics: the forgotten “sell” decision
A few years back, I wrote a post on how I stumbled into investing. After experimenting with a number of investment philosophies, the one that I settled on was value investing. In fact, value investing resonated with me so much that, I wondered why anyone would choose a different approach to investing. However, with more experience … Continue reading Back to basics: the forgotten “sell” decision
It’s the same lesson again…
I'll keep this short. In fact, very short. I may sound like a broken record or even suffer from the "man with a hammer syndrome" but, from my perspective, the start to the year has been a lesson in valuation - plain and simple.
The “It” Proposition
As some of you may know, one of the biggest influences on my investment thinking has been Prof. Aswath Damodaran. I officially took his valuation class back in the spring of 2017 and right at the beginning we learnt some propositions about intrinsic value. At the time, these propositions seemed trivial but as I have … Continue reading The “It” Proposition
Connecting the dots between theory and practice
One of the biggest complaints against finance theory from practitioners of investing is that it is not “practical enough” and does not represent the real world. We all know that an economy is the culmination of decisions being made by millions of individuals every day and unlike hard sciences, finance has to deal with people’s … Continue reading Connecting the dots between theory and practice
Diversification and Non-Ergodicity – A layman’s perspective
The argument for diversification is ancient wisdom and pre-dates the financial markets as we know them today. After all, the age old saying, "Don't put all your eggs in one basket", was first recorded in a 1605 Spanish publication. It's a simple, yet useful idea that has been drilled into generation after generation. As academic … Continue reading Diversification and Non-Ergodicity – A layman’s perspective
Thoughts on the value vs. growth divide
Setting the context To say that 2020 has been a volatile year for a vast majority of the population, both personally as well as professionally, would be an understatement. And so it has been with markets which tested the depths of despondency back in March but have recovered with a vengeance since. Many traditional "value … Continue reading Thoughts on the value vs. growth divide
How to write fiction using excel
"A great deal more fiction is written in Microsoft Excel than in Microsoft Word" - Anonymous Previously, I have written about what, according to me, is one of the biggest mistakes that people make in a DCF valuation. Two years of experience post that article has only reinforced my belief in this as I have … Continue reading How to write fiction using excel