In April 2002, Stanford social psychologist Emily Pronin and her colleagues Daniel Lin and Lee Ross published a paper in the Personality and Social Psychology Bulletin with a deceptively simple title: “The Bias Blind Spot: Perceptions of Bias in Self
Table of Contents Toggle The Most Powerful Governance Signal That 99% of Indian Retail Investors Never Read What Is a Vigil Mechanism? The Regulatory Framework: Three Overlapping Indian Laws The Five-Component Disclosure Checklist Every Indian Investor Should Run Two Contrasting
Warren Buffett does not actually invest. He filters. The investment is what remains after four filters have eliminated everything that does not belong. He has said this so often, in so many letters and at so many annual meetings, that
For more than a decade, behavioural economists have documented a peculiar — and counter-intuitive — pattern in how human beings handle financial pain. When markets rise, investors check their portfolios obsessively. When markets fall, they stop checking altogether. This is
India’s retail investor base has gone from roughly 3 crore unique PAN holders at NSE in March 2019 to over 11 crore in 2025 — a near four-fold expansion in six years. Yet SEBI’s own landmark 2024 study on individual
Seth Klarman is the most successful value investor most Indian retail investors have never heard of. His 1991 book Margin of Safety is out of print, second-hand copies routinely trade for thirty thousand rupees on eBay, and his Baupost Group
In 1995, two behavioural economists — Shlomo Benartzi and Richard Thaler — published a paper that won Thaler the 2017 Nobel Memorial Prize in Economic Sciences. Its title was deceptively simple: “Myopic Loss Aversion and the Equity Premium Puzzle”. The
Table of Contents Toggle Why this one ratio explains more about a company’s survival odds than any other line on the balance sheet What is Net Debt to EBITDA? A plain-English definition The formula — and the four moving pieces
Open a brokerage statement in India today and you will see one earnings number that the system insists is “yours” — the dividend credit. Everything else — the buybacks, the retained profits, the capex funded out of internal accruals, the
One paragraph summary. Daniel Ellsberg published a four-page paradox in 1961 that did to Leonard Savage’s expected-utility theory what Kahneman and Tversky would later do to rational-choice theory. Given a choice between an urn whose composition is known and one
The number of registered investors on the National Stock Exchange has multiplied from roughly 3 crore in 2020 to more than 11 crore by early 2026 — a once-in-a-generation broadening of equity ownership in India. Yet the same SEBI study
If you have ever stared at a list of forty Indian stocks in your demat and felt a low-grade panic — “what exactly am I holding, and what should I expect each one to do?” — then you are exactly
An investor in Mumbai who buys only Mumbai-listed equities, who concentrates 18% of his portfolio in his employer’s shares, who has never opened a Liberalised Remittance Scheme account, and who has zero exposure to the United States, Europe, Japan, or
Among India’s 11 crore registered equity investors as of early 2026, fewer than one in fifty can write down Benjamin Graham’s square-root intrinsic-value formula from memory. That single statistic explains why so much of the ₹1.81 lakh crore of cumulative
If you have ever bought a stock within ten minutes of a celebrity portfolio manager naming it on a business-news channel, you have not made a research-driven decision. You have obeyed an authority figure. The instinct is so deep, so