EQ Saturday Sapience #17
Equity Intelligence 3rd June 2023
Reality checks have just started around valuations of some of the start-ups, interesting conversation around Long India case, data analysis is all about garbage in garbage out and why Net-zero by 2050 is likely to be difficult.
1
Valuation markdowns of unicorn startups continue through 2023 with investors slashing the value of their holdings in Byju’s, Meesho and Eruditus. Venture capitalists (VCs) and fund managers seem to feel that although markdowns don’t directly impact the companies, they may still have unfavourable implications for future funding rounds and initial public offerings.
2
Carnegie Mellon Mumbai Network in conversation with Harsh Madhusudhan Gupta on 'Long India'.
3
Can you have data-driven good governance with outdated data? While there is no doubt that good data leads to good governance, the fact is that a lot of Indian data is out of date, and the government hasn’t even been able to conduct the census.
4
The goal of net-zero greenhouse gas emissions by 2050 is environmentally thoughtful—but, it’s not economically possible. Decarbonization requires wholesale reshaping and retooling of every aspect of society. We have some hurdles to clear.
Quote of the Week
“I don’t look at the primary message...of [Ben] Graham, really, as being...anything to do with formulas. In other words, there’s three important aspects to it.... One is your attitude toward the stock market. That’s covered in chapter eight of ‘The Intelligent Investor.’ If you’ve got that attitude toward the market, you start ahead of 99 percent of all people who are operating in the market. So, you have an enormous advantage. Second principle is the margin of safety, which again, gives you an enormous edge, and actually has applicability far beyond just the investment world. And then the third is just looking at stocks as businesses, which gives you an entirely different view than most people that are in the market. And with those three sort of philosophical benchmarks, the exact - the evaluation technique you use is not really that important. Because you’re not going to go way off the track, whether you use Walter’s approach - Walter Schloss’s - or mine, or whatever.” - Warren Buffett
