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 Portfolio of Mindsets
In the world of investing, a persistent myth endures: that of the all-weather fund manager—one who can master public markets, venture capital, real estate, debt, and more, all with a singular, transferable mindset. Reality doesn’t work that way. The hard truth is this: great investing is domain specific. Each asset class is governed by its […]
The Four Faces of Risk: When Your Portfolio Doesn’t Match Your Pulse
Every investor talks about risk. Few understand it. Fewer still admit how it feels. We treat risk as one enemy—volatility, measured with beta, standard deviation and variance. Neat for a textbook. Useless in a drawdown. In real life, risk lives in your bloodstream. It’s that sick feeling when your portfolio is down 25%. It’s panic-selling […]
The Patel Test 🏏
Harsha Bhogle can talk about swing bowling like no one else. The wrist, the grip, overcast skies, how the seam behaves off a green patch. It’s scholarly. And spot on. But when my team’s defending a total, I’m not calling Harsha. I’m handing the ball to Munaf Patel. Because Harsha doesn’t bowl. Munaf does. That’s […]