Crude oil is India’s Achilles’ heel. Our energy dependence makes the price of oil one of the most critical inputs in our fiscal planning as well as in monetary policy actions. It follows that ...

In the first half of the nineteenth century, British output per worker surged while real wages barely moved for decades — a stretch economic historians call ‘Engels’ pause’. Carl Benedikt Frey’s The ...

Everyone wants the returns that come from holding a great company for decades. But not everyone can actually sit through the 50%-plus drawdowns that come along the way. In our new book, The Art of ...

An equity investor learns early to distrust headlines and headline numbers. Revenue growth tells you little until you know how a company is governed, whether its accounts are clean, and how its ...

Consumption patterns show that India’s urban middle class is suffering. We believe that there are 3 reasons for this: (a) In offices & factories, technology is replacing humans in jobs entailing ...

Note: For all strategies except GCP, Performance data shown is net of fixed fees and expenses charged till December 31st, 2024 and is net of annual performance fees (Except for Little Champs Portfolio ...

Nifty50’s EPS growth moderated to 6% YOY in FY25 (from 24% CAGR over FY21-24) whilst valuations remain elevated (21x FY26 P/E for Nifty50). In stark contrast, Marcellus’ CCP portfolio’s earnings ...

For a generation, “Made in China” was a story about scale. The country became the factory of the world by making ordinary goods in volumes, and at a cost, that no rival could come close to matching.

India’s wealthy aspire to retire early, start businesses, and fund children’s futures, but lack the roadmap to get there. Marcellus, in collaboration with Dun & Bradstreet, conducted the ‘India Wealth ...

To fund future dollar-denominated expenses and To safeguard purchasing power against a structurally weakening currency. While high friction costs once made international markets inaccessible, four ...

Ray Dalio, a successful macro hedge fund manager, recently followed up his ‘Changing World Order’ thesis (also a book) where China challenges the US as the new world power, with this blog on the ...