Investing is Hard

On June 30th 1997, Amazon.com (AMZN) was trading at a split adjusted $1.50 per share and was valued at $700 million. That day the stock traded 228,900 shares in a range of $1.48 – $1.59. I’m sure someone traded in and out of a great business that day, not knowing that the stock was about to…

India’s Online Streaming Infatuation Is Taking Over Its Love For Cinema

In two years, digital entertainment in India will be bigger than the world’s largest film industry. That’s because more and more Indians are logging on to services like YouTube, Hotstar and Netflix on smartphones, according to a recent joint report by EY India and FICCI on the media and entertainment sector. Revenue from films is…

Risky Business

Most things are going well for most investors. So let’s talk about risk. People are masters at discounting risks that threaten the continuation of their past success. Winning feels good, but winning and then assuming you’ll keep winning indefinitely by doing what you just did is pure heaven and too hard to let go of. Risk hides…

China Coal Control Jolts World Markets From Steel to Freight

China’s efforts to overhaul its coal industry to reduce overcapacity after years of expansion and curb pollution are reverberating through global markets from steel to freight. What’s happening? Output has fallen more than 10 percent so far this year as the government of President Xi Jinping ordered miners to lower output to the equivalent of…

China consortium buys ad-tech venture Media.net for $900 million

NEW DELHI/BENGALURU: A consortium of Chinese investors has acquired ad-tech venture Media.net for about $900 million in a rare reverse merger deal being touted as the largest in the sector and which propels its India-born founders into the coveted ‘three-comma club’. Founded by Mumbai-born serial entrepreneurs Divyank and Bhavin Turakhia, Media.net develops products for advertisers…

Somebody’s Wrong on Reliance

Shareholders in Reliance Industries haven’t had it this good for a long time. After years of under-performance, the Indian oil refiner’s stock has zoomed 21 percent since the end of September, versus a 6 percent drop in the benchmark Sensex. Chairman Mukesh Ambani’s net worth has swelled to $21.7 billion. And now, its latest quarterly earnings have shown that cheap…