Blog

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

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.

May 7, 2026

Chart: Opportunity Cost as Hurdle Rate by fiscal year FY20–FY25, with bars showing values 28, 26, 22, 18, 14 and a green FY25 bar at 11%.

Opportunity Cost as Hurdle Rate: Charlie Munger’s ‘Best Available Alternative’ Test

Charlie Munger's lifetime discipline: every rupee must beat the next-best alternative use, on a risk-adjusted basis. How Indian long-term investors apply the hurdle-rate test using the 10-year G-sec, and why Titan Biotech FY25's audited RoCE spread illustrates the discipline.

May 6, 2026

Hero layout on dark blue background with title 'The Inevitable' and subtitle; below is a 2x2 color grid: top-left gray block labeled 'Trader', top-right green block labeled 'COMPOUNDER', bottom-left light gray block labeled 'Drift', bottom-right orange block labeled 'Speculator'

The Inevitables: Warren Buffett’s 1996 Letter Three-Tier Test of Business Predictability

Warren Buffett's 1996 letter framework classifies businesses into Inevitables, Highly Probables and Hopefuls. Most Indian retail portfolios mistake tier three for tier one. Titan Biotech FY25's audited numbers read as a Highly Probable profile.

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