Behavioral Finance
May 3, 2026
The Twenty-Punch-Card Rule: Warren Buffett’s Lifetime-Scarcity Discipline for Indian Value Investors
Buffett's twenty-slot punch card forces selectivity, patience and conviction in a single mental model. Titan Biotech's FY25 audited numbers — debt-to-equity 0.02x, ~16.9% RoCE, 103% CFO/operating profit, 55.87% promoter holding — illustrate the discipline.
May 2, 2026
A great process can produce a bad year; a bad process can produce a great year. Annie Duke and Michael Mauboussin formalised the discipline that separates them. SEBI's 2025 study shows 91.1% of Indian individual F&O traders lost money in FY24 — a textbook display of 'resulting' at scale. Plus a positive case study of how Titan Biotech's audited FY25 numbers illustrate management process discipline (educational, not a valuation call).
May 2, 2026
Warren Buffett used Book Value Per Share growth as Berkshire's headline metric for 53 consecutive years from 1965 to 2018. This guide walks Indian retail investors through the formula, the four diagnostic lenses, and uses Titan Biotech FY25 audited numbers as an educational illustration of disciplined long-term equity compounding.
May 2, 2026
Charlie Munger's 1995 Harvard speech introduced the Lollapalooza Effect: when multiple forces line up in the same direction, the outcome is multiplicative, not additive. Eight audited Titan Biotech FY25 disciplines illustrate the positive mirror-image.