“Advertisers preferred the paper with the most circulation, and readers tended to want the paper with the most ads and news pages. This circularity led to a law of the…
Founded in 1997, Multi-Act is led by Prashant K Trivedi, 54, a CFA charter holder, who is also CIO of his family’s office. It employs over 50 people across 2 offices in Mumbai and Pune. The team comprises mainly CAs (the equivalent of CPAs in USA), statisticians and economists.
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“I believe that the major problem hindering families from realizing their Financial Goals is the inherent clash between the structure of the financial services industry, the behavioural biases (of clients and agents), juxtaposed against the actions of Central Banks.”
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Praxeology – The Multi-Act Equity Research Blog
Central Banks, Moral Hazard and the Prospect for Global Markets
Central Banks across the world have frequently used quantitative easing (QE) as a means to introduce greater liquidity into the economy. However, QE has raised the risk of moral hazard: investors will take greater risks, knowing that the potential costs will be borne, in whole or in part, by others. Moreover, QE has increased asset prices, which in turn has severely affected the ‘prospective return’ on all assets.
Watch the Video HereSustainable Competitive Advantages: Network Effects
EBV Clusters and Their Usage – One Size Does Not Fit All
“Intrinsic value equals the present value of future free cash flow. Because the future is unknowable, you might think of intrinsic value as a range. Indeed, prices are often in…
Returns vs. Risk – The Unexpected Side
While evaluating performance, a lot of attention is given to returns while ignoring the risk taken to achieve the returns. Investors have limited control over the quantum of returns they…