Summary In our previous newsletter, “The relentless small-cap rally”, we had discussed how India’s slowing economy poses a significant risk to stocks especially small-caps (read section: “How small-cap rallies have […]
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 The previous quarter was an eventful one for Indian investors. General elections 2024 were held in India between April to June 2024 to elect the 18th Lok Sabha. While
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,
