NPV to determine cost of a Term Life Policy : 30-Jun-22
with Sahil Chhabria – A level graduate, Vidyashilp Academy, Bangalore Term life insurance policy:Term life insurance provides life insurance coverage for a...
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Report Card : 31-Mar-22
Our composite portfolio is the sum total of all individual client portfolio values and our composite highwater mark is the...
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Retirement Reckoner : 28-Feb-22
It is said that a retiring individual would require a corpus of about 30X one’s annual expense. This useful rule...
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The Psychology of Money : 31-Jan-22
Morgan Housel’s book The Psychology of Money caught our attention on two fronts. The first in that it echoed in...
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SEBI Investor Charter : 31-Dec-21
In a circular dated 13-Dec-21, SEBI has published an Investor Charter that Investment Advisers have to put up on their websites...
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Playing the long game : 30-Nov-21
We have always wondered upon the effect time horizon has on decision making. There is a qualitative difference between the...
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Decision Hygiene : 31-Oct-21
Nobel Laureate Daniel Kahneman is a co-author in a recent book – “Noise – A Flaw in Human Judgement” . In chapter...
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Diversification for the Indian investor : 31-Jul-21
Indian markets are at an all time high. Short term interest rates are at a low. Current and prospective inflation...
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Bharat Bonds – an Analysis : 31-May-21
We are fans of products which have low intermediary charges and low taxes. The drag of intermediary charges and taxes...
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Do Your Homework : 30-Apr-21
We have repeatedly written about the need to play defensively when investing. Playing defensively means to first avoid costly mistakes...
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Report Card : 31-Mar-21
Our composite portfolio is the sum total of all individual client portfolio values and our composite high water mark is...
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Sovereign Gold Bonds : 28-Feb-21
The Government of India introduced the Sovereign Gold Bond (SGB) scheme In the Union Budget of 2015-16. To date about 45 SGBs...
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ETFs vs Index Mutual Funds : 31-Dec-20
This blog is a continuation of last month’s blog. In last month’s blog we discussed at length the obfuscation around...
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Index Funds and Tracking Difference : 30-Nov-20
As SEBI Registered Investment Advisers, a corner-stone of our investment philosophy has been to choose low cost index funds. Our...
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Talking Money with Monika Halan : 30-Sep-20
I recently attended a webinar on the Financialisation of India’s Savings with Monika Halan moderated by Marcellus Investment Managers. Drawing...
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SEBI Circular : 23-Sep-20
This is an unusual blog – in that it comes in-between month ends. We write this blog since SEBI has...
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Tax deferred accounts in India ? : 31-Aug-20
Savers in the USA have the option of saving in tax deferred accounts. Tax deferred accounts provide the benefit of...
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Gross Misselling in Insurance Products : 31-Jul-20
On 03-Jul-20, SEBI amended the Investment Adviser Regulations. A few progressive amendments included were (i) disallowing individual Registered Investment Advisers...
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The Investing Game : 30-Jun-20
The book – Winning The Losers Game by Charles D Ellis is a fascinating read. It is clearly THE BOOK...
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TWRR vs IRR : 30-Apr-20
In our blog of Report Card : 31-Mar-20 we presented our performance on a consolidated basis. Performance was reported on a Time...
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Report Card : 31-Mar-20
Amidst the COVID-19 crisis the world finds itself in, and the commensurate rout that the markets have witnessed, we report...
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In Search of Quality : 31-Dec-19
In our blog Emerging Value : 28-Feb-19, we had made out the case for deep value emerging in the wider markets....
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Cross the River by Feeling the Stones : 31-Oct-19
It is pretty standard for “investment experts” to say that the long term “average” expected return from equity investments in...
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Wisdom from an unlikely source : 31-Aug-19
Investing is part art and part science and above all is about decision making under uncertainty. In a recent video, I...
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Low Hanging Fruit : 30-Jun-19
A client recently purchased a house and had taken a home loan. As usual the client had to also undertake...
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Report Card : 31-Mar-19
The financial year 2018-19 has just ended. The year gone by has witnessed stellar growth in the headline BSE SENSEX....
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Emerging Value : 28-Feb-19
In our blog of 31-Oct-17, we referred to the fact that our equity portfolios (we call them risky portfolios) benchmarked against...
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Introduction of a Fixed Fee : 31-Dec-18
In the 31-Oct-18 portfolio report to clients, we had mentioned that Aroha will be introducing a fixed fee (from the...
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Time Value of Money : 31-Oct-2018
The time value of money is an Investment 1.0 topic. It is a fundamental attribute that capital today is more...
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Letter to SEBI : 30-Sep-2018
Aroha’s Investment Adviser License is coming up for renewal and in this regard, we recently submitted our application for renewal....
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Analysis of a Structured Product : 31-Aug-2018
A few days ago a good friend of mine forwarded me the product brochure of a Structured Product. The product...
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Capital Gains : 31-Jul-2018
The Union Government in its wisdom, introduced a Long Term Capital Gain (LTCG) tax on equity shares in its budget...
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The power of compounding : 31-May-18
Simple interest is one in which the interest is paid out at regular intervals. In compound interest, the interest is...
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Report Card : 31-Mar-18
It is the time of the year to take stock of how things have panned out in the financial year...
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SEBI Consultation paper on Investment Adviser Regulations : 31-Jan-18
SEBI has invited comments to its recently published “Consultation Paper on Amendments to SEBI (Investment Adviser) Regulations 2013”. It is...
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Bank Fixed Deposits and the Financial Resolution and Deposit Insurance Bill (2017) : 30-Nov-17
A number of clients have written in asking for our comments on the “Bail In” clause mentioned in clause 52...
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Underperformance in Risky Portfolios : 31-Oct-17
In the current financial year, risky portfolios managed by us and benchmarked to market indices such as the BSE SENSEX...
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A path less trodden : 30-Sep-2017
The CFA Society of India had recently conducted a Value Investing Summit in Delhi. Eager to listen to the best...
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On Robo-advisory : 31-Jul-2017
In mid July, I had the good fortune of being a part of a panel discussion on robo-advisory in India....
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When advisers make mistakes – the role of process : 31-May-17
The subject of this month’s blog is a shameless copy of a chapter from the book Complications by Dr. Atul Gawande. The...
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Our skin in your portfolio : 30-Apr-17
The month of April is busy for Aroha Capital. It is the month of the year when client invoices are...
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Report Card : 31-Mar-17
While every client is aware of the return generated in her portfolio for the financial year just ended, I would...
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High Watermarking : 28-Feb-17
When I receive enquiries on the viability of Portfolio Managed Services (PMS), amongst the many pointers that I put out...
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Dumb-bell strategy : 31-Jan-17
In the many reviews I have received of our new web-site, one question that kept repeating itself was – what...
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The demon in demonetization : 31-Dec-16
Dear clients, my apologies for not presenting my monthly blog for 30-Nov-16. We have been swamped with work including the...
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Aroha’s response to SEBI’s consultation paper : 31-Oct-16
Festive greetings to all my dear clients. Wishing those of you who celebrate Diwali, a joyous and prosperous year ahead...
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Panic on commission disclosure : 30-Sep-16
SEBI in a circular dated March 18, 2016 among other things had directed that the Consolidated Account Statement being sent by Mutual...
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The source of wealth : 31-Aug-16
In his book the Aspirational Investor, Ashvin B. Chhabra provides insightful analysis on investing. The book is a great read...
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Simplicity and Low Costs – the silent workers : 31-Jul-16
Since time immemorial the medical sciences have been hounded by the concept of iatrogenesis. ‘Iatros’ meaning ‘healer’ and ‘genesis’ meaning ‘from’...
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The Fiduciary Standard : 30-Jun-16
A hilarious video hosted by John Oliver in his talk show Last Week Tonight was brought to my attention this month. In...
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Liquid Funds : 31-May-16
In the 11th May 2016, edition of the Mint newspaper, as a part of an investor awareness initiative – swatantra, I answered a...
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Understanding Annuities : 30-Apr-16
With the raging controversy surrounding the restrictions the Government of India proposed in the recent budget around provident fund withdrawals,...
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Report Card : 31-Mar-16
In my blog of 31-Mar-15, I promised to bring to you a report card on the performance of Aroha Capital one...
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On Financial Intermediation : 31-Jan-16
In the recently concluded 6th India Investment Conference conducted by the Indian Association of Investment Professionals, I was fortunate to sit through...
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Underperformance in low risk portfolios : 31-Dec-15
An examination of various client portfolios at the end of December 2015 has shown that high-risk portfolios of our clients...
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How much are your ULIPs really costing you? : 30-Nov-15
Unit Linked Investment Plan (ULIP) products have been marketed by insurance companies with great success. The tax benefits under section...
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Financial Planning article in August issue of “The Financial Kaleidoscope” from NSDL (scroll down to page 3) : 31-Oct-15
Financial Planning article in August issue of The Financial Kaleidoscope from NSDL (scroll down to page 3)
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Comments on the Report of the Committee to recommend measures for curbing mis-selling and rationalizing distribution incentives in financial products : 30-Sep-15
The Ministry of Finance (Government of India) has recently released a report on recommending measures to curb mis-selling and rationalizing distribution...
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A silver lining : 31-Aug-15
Amidst the market mayhem we have witnessed in the past fortnight, market pundits have voiced a variety of opinions, including...
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What’s going to happen? : 31-Jul-15
Amongst my rather small group of clients and at dinner table conversations with family and friends I keep getting asked...
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