Reflections on Indian Stock Market Levels

"Stocks are high, they look high, but they're not as high as they look."So said Warren Buffett several decades ago to his investment partners. At that time, the US stock market was ruling at an all-time high and Buffett's partners were worried about investing more money and/or remaining invested in the market. Buffett reasoned that…

On the Seven Deadly Sins, CAPM, and Circle of Competence

Much of the views expressed in this piece have been framed after extensive reading of the transcripts of various talks given by Mr. Charlie Munger, vice-chairman of Berkshire Hathaway Inc., and other material. I am grateful to Outstanding Investor Digest, Futile France, and of course, Mr. Munger himself, for making much of these materials available…