Three Longs & Three Shorts

May 2021

Week 5
Week 4
Week 3
Week 2
Week 1

Short Read

Published on 30 May, 2021

Here’s the Fastest Way to Board an Airplane (So Why D...

Among the many fallacies we live with, one is about airlines’ motive for our aircraft boarding sequence. One would...

Published on 30 May, 2021

Speaking with Katy Milkman about “How to Change”...

Katy Milkman – who is said to be a ‘pioneering scientist’ – “is the codirector of Behavior Change for...

Published on 30 May, 2021

Vaccicorns: An improbable rescue mission...

Over the past decade we have learnt a lot from watching the good folks at Nalanda Capital invest. In this blog one of...

Long Read

Published on 30 May, 2021

Stanley Druckenmiller: ‘The greatest investors ma...

This week we feature investing lessons from the legendary Stanley Druckenmiller, who in this free wheeling yet...

Published on 30 May, 2021

Europe’s Soccer Elites Took Their Eyes Off the Ball...

Many still scoff at the idea of stakeholder capitalism and believe the only purpose of business is to maximise...

Published on 30 May, 2021

The 60-Year-Old Scientific Screwup That Helped Covid Ki...

A couple of weeks ago, Azim Premji at an RSS lecture talked about how ‘Truth and good science are key to confront...

Short Read

Published on 23 May, 2021

The Mental Benefits of Being Terrible at Something...

Most of us tend to get carried away in our work lives, perhaps, passionately at that, getting better and better at it...

Published on 23 May, 2021

Sunderlal Bahuguna: A Himalayan voice for ecological tr...

Anyone’s death is a cause for grief and mourning but with some people, it is a time to celebrate the life that they...

Published on 23 May, 2021

Daniel Kahneman: ‘Clearly AI is going to win. How...

Daniel Kahneman, the Nobel prize winning psychologist and author of the fascinating book ‘Thinking, Fast and...

Long Read

Published on 23 May, 2021

Distribution and Demand...

Last summer, following Jio’s slew of deals with global investors and tech companies, Ben Thompson, one of the more...

Published on 23 May, 2021

Thomas Piketty is right: Everything you need to know ab...

Now let’s move from Paul Graham’s theory to see an application of this theory i.e. let’s dig into one of the most...

Published on 23 May, 2021

How to think for yourself (and ‘independent vs conven...

One of the privileges of working for Marcellus is that our colleagues share plenty of non-Finance related reading...

Short Read

Published on 16 May, 2021

The 3 Science-Backed Strategies That Can Help You Achie...

Five months in 2021, many of us have already given up or lagging behind on our goals for the year or resolutions we...

Published on 16 May, 2021

Makers Keepers: What can we learn from listed vaccine m...

As India’s pandemic continues to rage on, moving into small town and rural India with even greater inadequacies in...

Published on 16 May, 2021

How Much Energy Does Bitcoin Actually Consume?...

Earlier this week, Elon Musk announced that Tesla has suspended accepting Bitcoin for its vehicle purchases triggering...

Long Read

Published on 16 May, 2021

FinTech, BigTech and Cryptos – will new technology re...

Two weeks ago, we featured a piece on crypto by Ben Hunt somewhat misleadingly titled “In Praise of...

Published on 16 May, 2021

Interview with Brian Bares, Bares Capital Management...

Like other professionals, we try to learn from compatriots across the world and we are particularly interested in other...

Published on 16 May, 2021

Why Sanjaya Baru looks at the dismantling of an old ord...

Sanjaya Baru has done it again. Seven years ago his book on the then PM, Manmohan Singh – titled ‘The Accidental...

Long Read

Published on 09 May, 2021

The fight to save India’s most elusive cat...

Crazy as it sounds but even today in a country inhabited by 1.4 billion people, there are some wild animals in India...

Published on 09 May, 2021

‘The Pandemic Is a Prisoner’s Dilemma Game’...

This is a slightly dated article from December 2020 when the vaccination drive across the world had just about started...

Published on 09 May, 2021

Charlie Munger: 2021 Daily Journal Annual Meeting Trans...

Charlie Munger is, amongst other things, the Chairman of the Daily Journal and in this capacity he presides over its...

Short Read

Published on 09 May, 2021

Why we can’t outsource social change to advertisers...

Often our celebrities whether movie stars or sportsmen are accused of being silent if not indifferent on social issues...

Published on 09 May, 2021

The Grim Secret of Nordic Happiness...

This year’s Oscar for the Best International Feature Film went to a Danish movie called ‘Another Round’ (with a...

Published on 09 May, 2021

The elusive search for goat number 3...

Some concepts of investing may sound cliched but remain timelessly effective and hence need to be reiterated and...

Short Read

Published on 02 May, 2021

The Golden Age of Fraud is Upon Us...

As the world’s largest economy enters a purple patch in terms of economic growth, corporate profits and financial...

Published on 02 May, 2021

Flu Has Disappeared Wordlwide during the COVID Pandmic...

Whilst the Covid pandemic rages on, data shows that the incidences of the common flu or influenza have dropped...

Published on 02 May, 2021

Smells like team spirit: Getting ‘art’ out of artif...

In this piece for The Mint, Jaspreet Bindra invokes ‘the 27 club’ referring to a whole class of great musicians who...

Long Read

Published on 02 May, 2021

In Praise of Bitcoin...

Many of us who prefer to look at things from a fundamental perspective have been natural skeptics of Bitcoin or...

Published on 02 May, 2021

There’s a Name for the Blah You’re Feeling: It’s ...

Have you felt mentally fatigued as India has battled with the monster second wave of Covid? Are you struggling to find...

Published on 02 May, 2021

Increasing returns and the new world of business...

This piece was published in HBR 25 years ago and was referenced in Howards Marks’ famous January 2021 memo (where he...

Apr 2021

Week 4
Week 3
Week 2
Week 1

Short Read

Published on 25 Apr, 2021

Why we’re replacing ‘batsman’ with &#...

For many of us cricket fans, ESPNcricinfo is right up there among bookmarks on our browser. Whether it is to catch a...

Published on 25 Apr, 2021

India’s Mini-Craze for Bicycling Around the World...

Travelling the world to see and appreciate the myriad different experiences, cultures, vistas our planet has to offer...

Published on 25 Apr, 2021

Why GM crops are good for you...

Genetically Modified or GM crops have faced significant opposition from farmers and activists alike. In this piece,...

Long Read

Published on 25 Apr, 2021

The Rage of Carson Block...

The Reddit-Gamestop saga earlier this year reminded us how short sellers are often frowned upon as if they were up to...

Published on 25 Apr, 2021

Don’t pick up! The rise and fall of a massive industr...

Every week we get inquiries from our clients as to why we don’t set up a tech fund or invest in more tech stocks....

Published on 25 Apr, 2021

Interview: ‘Remdesivir doesn’t save lives – but d...

Fear and panic trigger irrational behaviour. Truth be told those of us who earn a living in the financial markets...

Short Read

Published on 18 Apr, 2021

Napping in the afternoon can improve memory and alertne...

It is a tradition in many societies to have an afternoon nap, most popularised by the Spanish Siesta. Psychology...

Published on 18 Apr, 2021

The rice of the sea: how a tiny grain could change the ...

Experts have been warning about an impending food crisis globally as food production struggles to catch up with...

Published on 18 Apr, 2021

The cross-border pitfalls of ‘working from anywhere�...

Whilst ‘Work From Home’ has presented to workers and employers alike both benefits and challenges, many of which...

Long Read

Published on 18 Apr, 2021

How People Get Rich Now...

Growing wealth inequality is a commonly accepted social issue that is plaguing the world. Some ascribe that to poor...

Published on 18 Apr, 2021

Why animals don’t get lost...

The New Yorker is where Pullitzer Prize winning writers like Ms Schulz congregate to bring to you the world’s best...

Published on 18 Apr, 2021

Columbia University students interview John Huber of Sa...

We found this interview with an American fund manager, John Huber, in a newsletter published by the students of...

Short Read

Published on 11 Apr, 2021

Why Indian corporates need to start investing in autist...

The 3L&3S has in the past featured pieces on the importance of diversity in teams at the workplace not just from an...

Published on 11 Apr, 2021

Bernsten: Free Trading Is Like Giving Chainsaws To Todd...

We would highly recommend the Morningstar’s podcast on personal finance and investing – The Long View which...

Published on 11 Apr, 2021

The Big Lessons of the Last Year...

In yet another lucid piece, this time on what should we make of our experiences, Morgan Housel shows how we often draw...

Long Read

Published on 11 Apr, 2021

India’s bankruptcy resolution professionals are under...

An important aspect of Marcellus’ investment philosophy is avoiding companies with dodgy accounting and we see...

Published on 11 Apr, 2021

Here’s 10,000 Hours. Don’t Spend It All in One Plac...

Inspired by David Epstein’s outstanding book “Range: Why Generalists Triumph in in a Specialized World”, last...

Published on 11 Apr, 2021

The spectacular implosion of Neil Woodford, Britain’s...

Around twenty years ago when some of us in Marcellus were young brokers in the stockmarket in London, a visit to...

Short Read

Published on 04 Apr, 2021

Be More Realistic About the Time You Have...

There’s plenty of self-help material on productivity hacks and how to make the most of our time. Despite everything,...

Published on 04 Apr, 2021

How one of world’s greatest hidden fortunes was w...

Whilst the markets have been concerned about inflationary risks and therefore interest rate increases stalling the...

Published on 04 Apr, 2021

Are You Dreaming Too Big?...

Setting ourselves goals to pursue, whether personal or professional, helps give direction to our efforts. But not all...

Long Read

Published on 04 Apr, 2021

5 things you should know about variants...

Sample studies of the recent covid surge in India points to several variants of the virus including a localised double...

Published on 04 Apr, 2021

“Play Bigger: The How and Why of Category Design” �...

“Play Bigger” is both the name of a book published five years ago and the name of a consultancy firm in Silicon...

Published on 04 Apr, 2021

Transforming for Growth: An Evidence-Based Guide...

In the aftermath of Covid-19 we have been pleasantly surprised to see that most of our investee companies have...

Mar 2021

Week 4
Week 3
Week 2
Week 1

Short Read

Published on 28 Mar, 2021

The pandemic has changed the shape of global happiness...

An interesting study shows how Covid has affected happiness levels across the globe and across age groups. The...

Published on 28 Mar, 2021

Why a Canal Built in 1869 is More Important Than Ever...

The 3L&3S has been featuring pieces about the bottlenecks in global trade caused by container shortages amongst...

Published on 28 Mar, 2021

A high growth plan for Indian agriculture...

Several of us in Marcellus have known Ashok Gulati for the best part of the last ten years and whilst none of us are...

Long Read

Published on 28 Mar, 2021

Why bands are disappearing: ‘Young people aren’...

In their book The Victory Project, my colleague Saurabh Mukherjea and his co-author Anupam Gupta talk about the...

Published on 28 Mar, 2021

How to be a genius...

Craig Wright is a professor at Yale where he teaches a course on “genius” (in the competitive job market these...

Published on 28 Mar, 2021

Too Much, Too Soon, Too Fast...

Morgan Housel is on a roll. This is the second consecutive week we are featuring his piece in 3L&3S. This one is a...

Short Read

Published on 21 Mar, 2021

Crawling on campus...

Most of us prefer to live our private lives quietly. Some of those who get celebrated for their achievements still...

Published on 21 Mar, 2021

Covid-19 cases are rising again in much of the world...

Just when the vaccination drive and the fall in caseload was reassuring us that we may have put the worst of Covid...

Published on 21 Mar, 2021

The heroic employee who stood up to a workplace bully a...

We celebrate our heroes, often the glamorous ones celebrated by the world at large. However, there are our everyday...

Long Read

Published on 21 Mar, 2021

How to Balance Hard Work and Pleasure for Happiness...

There’s plenty being written these days to cater to our need for an informed pursuit of happiness. As the author of...

Published on 21 Mar, 2021

RBI Bulletin: State of the economy...

More than actions, they say, a central bank’s communication has a greater impact on the markets. And every now and...

Published on 21 Mar, 2021

Investing: The Greatest Show On Earth...

In this essay Morgan Housel uses two interesting analogies to illustrate that investing is a far more evolved, more...

Short Read

Published on 14 Mar, 2021

The day the growth trade topped...

Here’s another piece from the Ritholtz stable, this time from the CEO Joshua Brown, who picks on from where Ben...

Published on 14 Mar, 2021

Some of the adult raja betas and rani bityas of the new...

Recent protests on social and political issues in India have featured many young Indians from well-to-do families. In...

Published on 14 Mar, 2021

Auto companies break gender barriers, hire more women f...

Over the past few years, many of the CEOs of the companies we have invested in have made it clear that they prefer to...

Long Read

Published on 14 Mar, 2021

How to be angry...

The title might be a bit misleading. The piece still largely talks about how not to be angry by providing us an...

Published on 14 Mar, 2021

‘I’ve never seen anything like this’: Chaos strik...

Over the past six months we have heard several of our clients who run export-import dependent businesses in India...

Published on 14 Mar, 2021

The rich vs the very, very rich: the Wentworth golf clu...

Samanth Subramanian has emerged as one of the best young, non-fiction writers of our era. He can take any subject –...

Short Read

Published on 07 Mar, 2021

The Man who Abandoned Value...

With the rate at which growth stocks are falling, this article might be past its expiry date. But this is a story of an...

Published on 07 Mar, 2021

How to Stop Overthinking Everything...

We all end up making myriad decisions in our daily lives, be it our workplace or matters related to family or home. At...

Published on 07 Mar, 2021

How Does the Stock Market Perform When Interest Rates R...

Over the past couple of weeks, the markets globally have been volatile on the back of rising interest rates. Whilst...

Long Read

Published on 07 Mar, 2021

How to have better arguments online...

It is perplexing how conversations on social media tend to be a lot more vitriolic than those we experience offline...

Published on 07 Mar, 2021

Fraud and Deception Detection: Text-Based Analysis...

Many of us in Marcellus are fans of Jason Voss’ book, “The Intuitive Investor” which explains how meditation...

Published on 07 Mar, 2021

Nodeep Kaur: The jailed activist Meena Harris tweeted a...

One of the most interesting features of challenges to the established order in India is that these challenges are...

Feb 2021

Week 4
Week 3
Week 2
Week 1

Long Read

Published on 07 Feb, 2021