Edelweiss Financial Services

I have been using Google Docs to do my writeup for analyzing companies. For the first time I used Scrivener to do my analysis. I enjoyed writing on Scrivener as it allowed me to focus on individual pieces. And not worry about the document layout. Moving around content is a piece of cake. It’s a perfect tool for…

Reflections On Piramal Enterprises

I started investing in the stock markets [both US and India] from 2006. I never believed in picking individual stocks as I was heavily influenced by John Bogle’s writings. I took a passive route to investing by dollar cost averaging in index funds. Click here to read the rest.

Constellation Software

Last year I asked my friends to send me the names of the companies run by able and honest managers like Warren Buffett. Without hesitating both of them mentioned about Mark Leonard, a terrific guy who runs Constellation Software. I promptly added it to my reading list. In a recent interview, Shane Parrish mentioned about…

The Zen of Corporate Finance

I promised my friends that I will do a small presentation on the drivers of the intrinsic value of a business. To fulfill that promise I am doing this write up. Take a look at the Net Operating Profits Less Adjusted Taxes (NOPLAT) for Great and Gruesome. Both companies are generating the same NOPLAT and…

United Spirits Limited

Want to become a millionaire? All you need to do is to invest a billion dollars in the airline industry. To complicate it further fund the investment by taking a lot of debt. This is what Vijay Mallya did when he started Kingfisher Airlines in 2003. What is the result? Click here to read the…

Berkshire Hathaway 2015

Archimedes was an Ancient Greek mathematician and physicist. He once said that — Give me a lever long enough and a fulcrum on which to place it, and I shall move the world. The claim of Archimedes is theoretically possible as levers can be used to exert a large force over a small distance at…

Lecture Notes Available on Kindle

I received a lot of positive feedback for my lecture notes on value investing. Some of you wanted to read the lecture notes on Kindle. Couple of hours back I published it on Kindle. Click here to purchase the Kindle version for $1.99. I wanted to give away the Kindle version for free. But Amazon doesn’t allow this and…