Investing Principles
Aug 2026
Stop Labelling Yourself
Great investors resist labelling themselves “value,” “growth,” or “special situations” specialists, because every strategy has its season and a rigid label quietly filters out good opportunities. Drawing on John Templeton’s flexible career — leveraged bets in 1939, Japanese growth stocks in the 1950s, contrarian US buys in 1979, shorting tech in 2000 — it argues you should stay anchored to bedrock principles while adapting your approach as the facts change.
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Investing Principles
Jul 2026
Half a Century of Patience
A frugal, Holocaust-surviving couple entrusted their savings to a young Warren Buffett in the 1960s and left the money untouched for more than 50 years. It compounded into over $500 million — later the largest single charitable donation in the history of the State of Israel — a lesson in how even modest capital, given decades and the right manager, can grow into a fortune.
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Investing Principles
Jun 2026
Buffett-Munger Principles in Real Estate
Value-investing principles reach well beyond stocks. Through the career of Silicon Valley real-estate investor John Arrillaga — a friend of Charlie Munger who built a $2.5 billion fortune — the piece draws out ten Buffett-Munger ideas at work: a narrow circle of competence, avoiding leverage, patience, lean operations, and buying with a margin of safety.
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Investment Thesis
Apr 2026
Kore Digital — A Fat Pitch?
A thesis on Kore Digital, a Mumbai telecom-infrastructure nanocap trading near a 2.6x P/E after an 88% fall driven by sentiment rather than fundamentals. The company is growing on the back of the Samruddhi project with lease revenue still to begin, and its move into 3D metal printing for defence adds an asymmetric optionality on top of the core business.
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Investment Thesis
Jul 2025
International Gemological Institute (IGI)
A deep-dive on IGI, the market leader in lab-grown diamond certification with a 65% global share, no debt, and ROCE and ROE both above 45%. The note examines the oligopolistic certification industry, IGI’s moat and Blackstone ownership, and concludes the stock trades close to fair value with growth tied to the rising acceptance of lab-grown diamonds.
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Investment Thesis
Mar 2025
Indus Towers Ltd
A thesis on Indus Towers, the world’s third-largest tower company, whose stock stayed flat for nearly a decade under the overhang of Vodafone Idea’s financial distress. With dues largely recovered, low debt, high margins, and 5G-driven tenancy growth ahead, the analysis finds the stock trading at a discount on both a DCF and Buffett’s equity-bond method.
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