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We don’t find the market expensive – simplifying asset valuation…
“Price is what you pay and value is what you get” – Warren Buffett. It is a profound and straightforward statement, but only if the...
Aug 10, 20237 min read

CONNECTing dots
At Carnelian, we have created 2 strong pillars of our forensic framework: CLEAR & Connect.
Jul 7, 20238 min read

Demand creates its own supply
In wealth creation, what matters is the rate of change. Value creation is the delta from where you stood yesterday to where you are today.
Jun 5, 20237 min read

Small is beautiful – What makes them big?
Structural wealth creation happens when a company travels the path from being small to mid to finally large.
May 9, 20238 min read

Is a financial crisis looming?
Across the globe were engulfed with heightened fear caused by the collapse of financial institutions Silicon Valley Bank (SVB) and Credit Su
Apr 6, 20235 min read

Choices that one makes! a Fund Manager’s dilemma....
Hope you had a lovely Holi celebration and may this festival fill your life with the colors of joy, friendship, and happiness always....
Mar 9, 20236 min read

Budget, Adani and Fed!!!
Greetings from Team Carnelian!!! Last few days have been eventful to say the least – The Budget, Adani Group, FOMC meeting... While two...
Feb 2, 20234 min read

2023: Tailwinds amidst headwinds…
Greetings from Team Carnelian!!! We wish you and your family a Happy New Year! As we reflect upon the year that has gone by, like we had...
Jan 4, 20236 min read

This time it’s different
Greetings from Team Carnelian! “This time it’s different” are considered the most expensive words in our industry. These words can be...
Dec 7, 20226 min read

Three Peaks & Twin Engine will lead to 70,000
Greetings from Team Carnelian! Hope you had a wonderful festive season. A new Samvat is a good time to take stock of how things went by...
Nov 2, 20226 min read

Culture – The compounding machine
Wishing happy Dussehra to you and your family. We have written a lot on risk, returns, opportunities, outlook, and various frameworks… In...
Oct 5, 20228 min read

Predictably Irrational – Psychology of Investing
“The biggest investing errors come not from factors that are informational or analytical, but from those that are psychological.” -...
Sep 12, 20227 min read

CLEAR vision avoids casualties…
“All I want to know is where I am going to die, so I’ll never go there” - Charlie Munger An investor generally relies on reported...
Aug 8, 20228 min read

Embrace volatility & build this Vintage
We started the year by writing to you that we expect this year to be volatile and a year of de rating (link). We are already witnessing...
Jul 4, 20225 min read

3 years of our journey so far…. then and now
We are happy to share with you that this month we completed 3 years of our journey and take this opportunity to thank, think/introspect...
Jun 7, 20225 min read

Sailing amidst uncertainties
Most of us are surprised lately with the movement of markets and the tug of war which is at play almost daily between Bulls and Bears....
May 6, 20223 min read

Manufacturing – All Stars Aligned
It is said that “when all the stars align, magic happens”. The probability of a successful outcome is far higher when stars are aligned....
Apr 7, 20227 min read

Structural tailwinds vs Cyclical headwinds
Greetings from Team Carnelian!!! Hope you and your near ones are doing well. ‘Identify and follow the trends in your industry. Don’t...
Mar 7, 20223 min read

A “Magic”al Delivery!
Greetings from Team Carnelian!! Hope you and your near ones are doing good. Good things + Continuity = Compounding The FM has delivered a...
Feb 1, 20223 min read

2022 to be the year of de-rating & modest earnings growth
Greetings from Team Carnelian!! Wishing you and your family a very happy and healthy 2022! The turn of the year is a good time for...
Jan 6, 20226 min read
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