Blogs
April 30, 2026
Howard Marks's most important idea: investing edge is built by going beyond the surface reaction. A practical three-habit discipline, illustrated with Titan Biotech's FY25 audited numbers.
April 29, 2026
The representativeness heuristic — Kahneman & Tversky's 1972 framework — explains why Indian retail investors keep paying for stocks that resemble past multibaggers but don't share the underlying base-rate process markers. Titan Biotech FY25 illustrates the opposite — process over pattern.
April 29, 2026
The Capex-to-Depreciation Ratio is the cleanest 60-second filter for whether a business is genuinely reinvesting (above 1.0x) or quietly harvesting (below 1.0x). Titan Biotech FY25 audited numbers — ~Rs.11 Cr CWIP, ~Rs.57 Cr gross block, ~7% depreciation/gross block, ~103% CFO/Operating Profit and only ~Rs.3 Cr total borrowings — illustrate disciplined, internally funded reinvestment. Educational illustration; not a buy/sell recommendation.
April 29, 2026
Benjamin Graham's 1949 Mr. Market parable is the operating system for ignoring daily price quotes. Titan Biotech FY25's audited quiet — ₹3 cr borrowings, 103% CFO/PAT, 36.4% ROCE — illustrates the underlying factory that survives every tick.
