Stocks
March 18, 2026
The New Architecture of Indian Capital Markets
India's capital markets are undergoing a structural transformation — the confluence of retail
participation, technology platforms, and regulatory sophistication has created an ecosystem that
is both deep and remarkably resilient.
Commodities
March 10, 2026
Patience as a Capital Allocation Strategy
In a world obsessed with quarterly returns, patience has become the most underpriced asset in
any portfolio. The greatest compounders share one trait: they were held.
Real Estate
February 28, 2026
India's Decade: Macro Tailwinds and the Investment Case
With a working-age population of 600 million and a digital infrastructure that has leapfrogged
legacy systems, the structural case for India is not merely optimistic — it is arithmetically
compelling.
Startups
February 14, 2026
What We Look for in Early-Stage Founders
After evaluating hundreds of opportunities, our framework distils to three essential questions
about founder quality, resilience, and compounding business model advantage.
Stocks
February 3, 2026
Gold in a Portfolio: Relic or Relevant?
Gold has been declared dead a dozen times. Each time, it reasserts its role as the world's most
trusted store of value. As sovereign debt expands, the case has never been stronger.
Commodities
January 22, 2026
On Risk: The Language We Use and Why It Matters
Risk is the most abused word in finance. Its conflation with volatility leads to poor decisions.
We propose a cleaner definition: the probability of permanent capital impairment.
Real Estate
January 10, 2026
The Dollar's Slow Retreat and What Comes Next
For the first time in decades, a serious conversation is underway about dollar hegemony. This is
a sober assessment in central banks and sovereign funds — not fringe speculation.
Startups
December 20, 2025
The Rise of Deep Tech in India: A Venture Thesis
India's startup ecosystem is maturing beyond consumer internet. The next wave — AI
infrastructure, space tech, bio-manufacturing, defence electronics — is just beginning.
Real Estate
December 8, 2025
Real Estate in 2026: Where Value Still Exists
After a three-year bull run in metros, where does real estate value remain? Our answer is tier-2
cities receiving infrastructure investment — the opportunity is significant and underpriced.
Commodities
November 25, 2025
Contrarianism vs. Contrarity: Knowing the Difference
There is a dangerous confusion between being a true contrarian and merely being contrary. The
difference, in practice, is the difference between Howard Marks and a permabear account.
Commodities
November 12, 2025
Inflation's Second Act: Why the Fight Isn't Over
Central banks have declared partial victory. But the structural forces that produced this
inflation cycle — energy transition, deglobalisation, labour tightening — remain intact.
Startups
October 30, 2025
The Anatomy of a Term Sheet: What Founders Miss
Too many founders fixate on valuation while ignoring the clauses that truly determine outcomes.
A guide to what actually matters in your term sheet — and what to negotiate.
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