Educational deep-dive on a forensic earnings-quality metric — illustrated, not recommended. This is not a buy/sell recommendation on any stock, including Titan Biotech Limited (BSE: 524717). Table of Contents Toggle Why This One Line in the P&L Decides Whether You
Most Indian investors hear the word goodwill and instinctively reach for a forensic flashlight. Their training is correct, but it is incomplete. There are two goodwills in the investing universe — and the one that compounds your wealth is invisible
Ask the average Indian retail investor how they decide what to buy this morning, and a striking pattern emerges. “This stock has fallen for five sessions, the bounce is due.” “That stock has rallied for three quarters, the streak is
Last week, India crossed a quiet milestone. The number of unique investors registered with NSE moved past 11 crore — up from just 3 crore in 2019, according to NSE’s Market Pulse data. In parallel, the SEBI study released in
Most Indian investors who have read a few value-investing books know three names by heart: Benjamin Graham, Warren Buffett and Charlie Munger. A few will throw in Philip Fisher or Peter Lynch. Almost no one talks about Walter Schloss —
If you ask an Indian retail investor, “What return will your favourite small-cap stock deliver over the next five years?” you will almost always get a confident, story-driven answer: “The promoter is honest, the order book is strong, the sector
According to the latest SEBI study on individual traders in the equity Futures & Options segment, 9 out of 10 lose money. Combine that with the National Stock Exchange’s registered investor base growing from 3 crore in 2020 to over
In 1991, on stage at the University of Notre Dame, Warren Buffett offered a single thought experiment that, if taken seriously, would have saved Indian retail investors from roughly ₹1.8 lakh crore of F&O losses, several thousand small-cap blow-ups, and
Published 2 May 2026 · Behavioral Finance Series · ~3,000 words You can make a brilliant decision and still lose money. You can make an awful decision and still make money. Most Indian retail investors do not separate these two
Most retail Indian investors stare at the share price 50 times a day and never look at the book value once a year. That single habit is why 9 out of 10 of them lose money in F&O (per the
📅 Published May 02, 2026 (Saturday) There is a kind of investment outcome — both spectacular wealth-creation and spectacular wealth-destruction — that no single explanation ever fully accounts for. The 2008 Lehman collapse was not “just” leverage. The 2018 IL&FS
The behavioural mistake that quietly destroys more long-term wealth in Indian retail portfolios than any other is not loss aversion, herd mentality or even recency bias — it is the simple, hard-wired compulsion to do something when the right answer
India’s equity markets now host more than 11 crore unique investors registered with NSE — up from barely 3 crore as recently as January 2020. Yet a SEBI study famously found that 9 out of 10 individual traders in the
One of the most useful sentences ever written about equity investing is buried in a 1977 Fortune essay titled “How Inflation Swindles the Equity Investor”. Warren Buffett, then 47, made an argument almost no Indian retail investor has internalised half
If you can imagine, in vivid and unflattering detail, the precise way an investment will fail before you ever click “Buy” — and write that obituary down in the first person — you have already deactivated more than half of