Insights

What we're thinking about.

Long-form analysis, weekly letters, sector deep-dives, and our quant team's notebook — for anyone who likes to read the rationale, not just the call.

★ Featured · Letter

May letter to subscribers: positioned, not panicked.

A candid mid-quarter update — what we got right (IT exit before the de-rating), what we missed (HCL Tech timing), and the five themes we are positioning into for the second half.

Priya Iyer · Co-founder, CIO

20 May 2026 · 12 min read

Issue 38 · May

Subscriber letter

All insights

Latest from the desk.

Sector8 min

Why we still believe in the India capex cycle

Order books at L&T, Siemens, ABB, and BHEL imply a 3–4 year runway. Here is the math.

Aarav Mehta24 May 2026

Macro5 min

INR at 83.7 — what it means for your portfolio

Pharma & IT export tailwinds, oil import drag. Sector re-allocation framework.

Priya Iyer22 May 2026

Letter12 min

May letter to subscribers: positioned, not panicked

A candid mid-quarter update — what we got right, what we missed, what is next.

Founder20 May 2026

AI Quant6 min

How our AI screen flagged Polycab three months early

The five quant factors that lit up before the earnings beat. With factor scores.

Vikram R.18 May 2026

Education9 min

Reading a quarterly result, the analyst way

A walkthrough of how we tear apart a P&L, balance sheet and cash flow in 20 minutes.

Priya Iyer15 May 2026

Sector7 min

Banking dispersion — why we like PSUs more than private (for now)

Valuation gap, credit cost normalization, and recapitalization. Our top three picks.

Aarav Mehta12 May 2026

Free · weekly

Monday's read in your inbox.

One letter every Monday morning — a curated read of what mattered in markets last week and what to watch this week. No paywall.