Every Investor Has a Number
Where the position starts owning them. Have you ever felt sick looking at your portfolio? Not the size of your corpus. The red %-ages neatly positioned in brackets — a weekly or monthly drawdown. If so, you have company. Stanley Druckenmiller is a celebrated hedge-fund manager and macro investor. If you’ve not heard of him, […]
The SIP and the Myth of the Autopilot
A Nifty 50 (2-yr SIP) XIRR of −1.53% over two years. A G-Sec index at +5.69%. What the data says — and what it doesn’t. Mobile friendly : http://www.richify.in/perspectives/sip-autopilot-myth-dsk.html ── The Setup ── The Streetlight Problem There is an old parable about a drunk man searching for his keys under a streetlight — not because […]
The (AI-Fuelled) God Complex
We’ve entered the golden age of access. In minutes, you can surface earnings call summaries, industry trends, governance history, even forensic flags. A junior analyst in New Delhi today has more research firepower than a New York based hedge fund portfolio manager in 2005. AI gives us speed, structure, and conviction. What it also gives […]
🧠 AI in Investing: Are Mental Models Still Beating the Machines?
Tuesday afternoon.My screen’s a blur of tanker rates, dairy prices, IoT adoption curves, and chip exports. No, I haven’t become a polymath overnight.I’ve just got caffeine—and AI. Between GPT-4, Perplexity, Gemini, Grok, and DeepSeek, the entire modern finance stack is a prompt away. Sector summaries, forensic red flags, management tone shifts—delivered in seconds. No analyst […]
Why Do Markets Ignore Big Risks but Freak Out Over Small News?
Have you ever noticed how the stock market instantly reacts to a company’s earnings report but shrugs off major risks like wars, pandemics, or trade wars—until it’s too late? This isn’t just randomness. Markets are great at pricing in clear, measurable news—like a 20% drop in a company’s growth—because analysts can plug those numbers into their models. […]
Musings with Mr. Investor
Alpha is the holy grail for Investment Managers. Can a single-minded focus on it be costing you, Mr. Investor?
Running N Investing
The New Delhi Marathon (2023) was my first race after the Covid Delta wave. Running the tree-lined roads of Delhi with hundreds of fellow runners, filled me with a sense of déjà vu. The emotions were strong. I distracted myself by trying to math-out the probable finish times of friends that crossed me by on the opposite loop. Soon, I was smiling, thinking of the similarities between the sport and investing.
Humans Vs Econs
As a confessed Star Trek aficionado, I used to devour episodes late into the night, a delightful respite amid the intense preparations for board exams. A decade later, this late-night ritual provided an instant connection when Nobel laureate Richard Thaler, in a class at the University of Chicago, drew a parallel between economic behaviour and the Star Trek universe.