Newsletter

Summary The last fourteen months have been a tough period in Indian equity markets especially at the small-cap end of the spectrum – the BSE Small Cap index is still […]

Summary “Mid, smallcaps reach for the sky despite analysts sounding caution” was the headline of a Business Standard article dated Aug 1, 2023. Since that day, the BSE Smallcap index

Summary Burman Capital Management completed three years of managing money under the SEBI PMS license in March 2024. We are lucky that our first three years have been in an

Summary CY23 was a good year for Indian equity markets as local developments such as strong corporate earnings, expectations of easing interest rates, higher confidence in political continuity aligned well

Summary IMF expects India’s real GDP to grow at 6.5% over the period 2020-28E making it the fastest growing major economy in the world. By 2027E, it projects India to

Summary Long-term investments in companies that have a sustainable competitive advantage reward investors handsomely. For instance, Colgate-Palmolive has delivered 25X returns to investors in the last 20 years i.e. CAGR

Summary The last three years have been a roller-coaster ride for business leaders globally who have had to manage COVID-19 related lockdowns, central banker-driven consumption boost, supply chain challenges, RussiaUkraine

Summary Given an option of investing in one of two stocks below – which one would you choose? • Stock A has operating margins of 13.5%, high leverage with net

Summary While our unwavering focus is on bottom-up fundamental investing, in this newsletter we take a top-down view and discuss a unique characteristic of ‘small-caps’. Given their relatively lower size,