Behavioral Finance

May 12, 2026

Hero section with Time Arbitrage title and italic subtitle; a 2x2 color grid: top-left Trader (gray), top-right COMPOUNDER (green), bottom-left Drift (light gray), bottom-right Speculator (orange).

Time Arbitrage: Why Stretching Your Holding Period to Five and Ten Years Is the Single Greatest Edge a Private Indian Investor Has Over Institutional Money

Why time arbitrage — the structural edge of holding quality businesses for five to ten years while institutional money is forced to optimise for the next 90 days — is the rarest source of edge in Indian value investing, illustrated by Titan Biotech's FY25 audited numbers.

May 11, 2026

Hero header with title 'The Halo Effect' and subtitle; below is a two-by-two colored grid labeled Lucky (gray), Disciplined Investor (green), Confused (light gray), Bias-Trapped (orange).

The Halo Effect: Thorndike’s 1920 Discovery and Phil Rosenzweig’s 2007 Warning

Edward Thorndike documented the halo effect in 1920; Phil Rosenzweig's 2007 book showed it runs backward in business commentary. We unpack the five Indian retail-investor halo channels, share a five-step de-haloing checklist, and use Titan Biotech FY25's nine decorrelated disclosed markers as an illustrative anti-halo process case study.

May 11, 2026

Bar chart of 10-Year Revenue CAGR, FY20–FY25; FY25 is shown in green at 11% with end values 28, 26, 22, 18, 14, 11

10-Year Revenue CAGR: The Foundational Top-Line Compounding Test Every Indian Long-Term Investor Must Master

How to read a 10-year Revenue CAGR through four disciplined lenses — illustrated with Titan Biotech FY25 audited numbers (~15% Revenue CAGR, ~29% PAT CAGR, ~103% CFO/OP, Rs.3 Cr borrowings). Educational only.

May 11, 2026

Large page header with the title 'The Envy/Jealousy Tendency' and subtitle about Charlie Munger, set on a dark blue background; below is a 2x2 color grid labeled Lucky, Disciplined Investor, Confused, and Bias-Trapped.

The Envy/Jealousy Tendency: Charlie Munger’s 1995 Harvard Speech on Why It’s Not Greed That Drives the World

Charlie Munger's 1995 cognitive-bias #14 — the envy tendency — is the single cleanest explanation for India's ₹1.81 lakh crore F&O losses. Titan Biotech FY25's audited numbers read as a corporate version of the same discipline.

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