Our Letters

In this letter, we delve into the critical role of behaviour in driving investment success. In an environment flooded with information and unpredictability, our primal instincts often prompt impulsive actions. Recognizing these tendencies, we stress the importance of establishing robust guardrails to enhance our success. Our discussion highlights the significance of patience, careful evaluation, and cultivating a supportive ecosystem for long-term value creation.

12 July 2024

In our second quarterly letter, we delve into the current market dynamics, likening it to a game of throwing darts blindfolded—where luck can often be mistaken for skill. This environment reinforces the need to remain disciplined in identifying fundamentally strong businesses. Medi Assist, a standout in the TPA industry, embodies the traits we value, including longevity, resilience, and leadership.

11 October 2024

In this letter, we explore the transformative rise of GLP-1 drugs, which have captured global attention as revolutionary weight-loss treatments. Brands like Ozempic and Wegovy have sparked widespread buzz, even prompting Elon Musk to call GLP-1 drugs 'the single biggest positive effect on healthcare and quality of life in the 21st century'. We delve into the factors driving their meteoric demand, analyze their intricate supply chain, and highlight opportunities for listed Indian players. Whether you're an investor or simply curious about groundbreaking advancements, we believe this is a story worth knowing. Hope you enjoy the read!

6 January 2025