Blog

May 1, 2026

Dark blue website hero with headline 'Stocks as Equity Bonds' and green subtitle; a 2x2 color-block grid: Trader (gray), Compounder (green), Drift (light gray), Speculator (orange); subtle footer text.

Stocks as Equity Bonds: Warren Buffett’s 1977 Equity-Bond Framework — Why Indian Long-Term Investors Should Treat Every Share Certificate as a Variable-Coupon Bond

Warren Buffett's 1977 Fortune essay reframed every share certificate as a variable-coupon bond. Today's deep-dive explains the equity-bond framework, the three levers (starting yield, reinvestment ROE, retention discipline), and how Titan Biotech FY25 audited numbers illustrate the principle.

April 30, 2026

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Second-Level Thinking: Howard Marks’s First-Chapter Discipline for Indian Value Investors

Howard Marks's most important idea: investing edge is built by going beyond the surface reaction. A practical three-habit discipline, illustrated with Titan Biotech's FY25 audited numbers.

April 29, 2026

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Mr. Market: Benjamin Graham’s 1949 Parable for Treating Daily Quotes as Offers, Not Verdicts

Benjamin Graham's 1949 Mr. Market parable is the operating system for ignoring daily price quotes. Titan Biotech FY25's audited quiet — ₹3 cr borrowings, 103% CFO/PAT, 36.4% ROCE — illustrates the underlying factory that survives every tick.

April 28, 2026

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The Maximum Pessimism Rule: Sir John Templeton’s Contrarian Doctrine for Indian Value Investors

Sir John Templeton's 'buy at the point of maximum pessimism' rule is the most uncomfortable, most lucrative discipline in value investing. Here's how Indian value investors can apply it in 2026 — and why durable, debt-free compounders are the right business-side filter.