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India is expensive – Really?
“A great business at a fair price is superior to a fair business at a great price.” - Charlie Munger Valuation is one of those topics...
Jun 118 min read


The Oracle's Farewell
“Someone is sitting in the shade today because someone planted a tree long ago.” Let us plant our trees with care and trust that, in time, they will bear fruit.
May 67 min read


Steering through the fog together
The world economy is facing an unprecedented time, leading to different kinds of risks looming in the minds of investors
Apr 75 min read


Markets & Maha Kumbh - Exponential India
Market view and our thoughts on one more big achievement of India – Maha Kumbh.
Mar 106 min read


Contra Portfolio Strategy - investing beyond consensus
History demonstrates investors who buy stocks that are out of favor & avoid stocks that are in favor enjoy superior results over long term.
Feb 65 min read


2025 – Year of keeping low expectations and staying disciplined
2025 – Year of keeping low expectations and staying disciplined
Jan 44 min read


Beyond Narratives – Is consumption slow?
How at times common narratives get formed in the market influencing investors and leading to erroneous investment decisions.
Dec 10, 20247 min read


Temporary headwinds amidst structural tailwinds
Current market volatility stems mainly from temporary reasons, creating an opportunity for long-term investors.
Nov 8, 20247 min read


Beyond Narratives…
Markets, a collection of human emotions, also create and act based on stories and narratives.
Oct 8, 202410 min read


More, New and Better! - India consumption story
As India is embarking on the journey, it will have three pronged changes in the consumption - Economic,
Social & Digital
Sep 10, 20247 min read


Carnelian Bharat Amritkaal Series - Infrastructure: Rebuilding India for Amritkaal
India is focusing on building out large-scale infrastructure throughout the country at the rapid pace with huge sense of urgence
Aug 8, 20244 min read


Carnelian Bharat Amritkaal Series - Services Exports: Bigger & Better
India will move from developing to developed – “Services” will be an important sector that will bridge this gap. We see below important tren
Jul 10, 20247 min read


Power shift from BJP to NDA – Will this change the policy mood?
The largest festival of democracy on this planet has just concluded with the equity markets seeing a wild swing during the entire week.
Jun 13, 20247 min read


Bharat Amritkaal Series – India, factory to the world
Mega trends are generally born from the congruence of several factors acting in a common direction, resulting into a nuclear chain like reac
May 13, 20247 min read


Bharat Amritkaal Series - Biggest Mega Trend - Youngest, largest & aspiring!
Greetings from Team Carnelian! In our previous letter, we highlighted the major tectonic shifts which are underway, making us believe...
Apr 10, 20244 min read


Bharat Amritkaal!!! – The India story re-begins…
Greetings from Team Carnelian! It is said when you zoom out and look at something over a longer time horizon, things look much different...
Mar 14, 20248 min read


A different perspective on Active vs Passive Investing
Passive investing can lead to missing sizable alpha creation opportunities
Feb 10, 20246 min read


2023, a momentous year – reflecting on our journey…
As we embark on a bright 2024, we are delighted to take this opportunity to reflect on the growth, achievements, and significant milestones.
Jan 3, 20247 min read


Charlie - Our North Star
Greetings from Team Carnelian!!! In the history of mankind, there rarely comes a human being who single handedly & selflessly impacts the...
Dec 4, 20233 min read


US recession, Geo-Politics – this time it is different.
Most investors agree that India is a great long-term story, but can it remain unscathed from these ongoing global issues and their outcomes?
Nov 9, 20237 min read
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