The Four Questions We Ask Before Buying Any Business
Before a single rupee changes hands, every investment at The Sunday Investor has to survive four plain questions. They cut through more noise than any spreadsheet.
Shantum Gupta·
The archive
Everything we've written
Research, lessons, and commentary — newest first.
ROCE, Explained: The One Number That Quietly Decides Everything
Return on capital employed sounds like an accounting chore. It's actually the closest thing investing has to a truth serum — here's how to read it without the jargon.
Shantum Gupta·
Where We Are in the Cycle: A Sober Look at Indian Equities
Sentiment is loud, valuations are full, and earnings are doing the quiet work. A framework for thinking about the Indian market without getting swept up in the mood.
Shantum Gupta·
The Sunday Digest: Patience, Moats, and the Cost of Being Early
Five ideas worth carrying into the week — on why patience is an edge, how moats quietly erode, and the difference between being early and being wrong.
Shantum Gupta·
Owner Earnings: Looking Past Reported Profit
Reported profit is an opinion; cash is a fact. Owner earnings is the bridge between them — and learning to estimate it changes how you read every annual report.
Shantum Gupta·
Margin of Safety Isn't a Number — It's a Habit
Everyone quotes Graham's most famous idea and almost no one practises it well. Margin of safety isn't a discount you calculate once; it's a way of being wrong cheaply.
Shantum Gupta·