Investing with Confidence by Prioritizing Fundamentals in Volatile Markets
Investing in the stock market is a roller-coaster ride. Recent global trade tensions, heavy outflows from foreign institutional investors (FIIs), and weak corporate earnings have all contributed to an environment of heightened volatility. Weak inflow data from AMFI further indicates that investors are increasingly hesitant to commit capital. However, volatility is not something to fear.…
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Vivek Sharma
How Has Gulaq Gear 6 Performed?
FY25 is now officially in the rearview mirror, and with that, our flagship portfolio — Gulaq Gear 6 — has built almost five years of a live track record. The markets are navigating through turbulent waters right now, with sharp falls followed by swift recoveries. Amidst this chaos, it becomes even more important to zoom…
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Vivek Sharma
Myopia
Myopia is an illness that prevents people from seeing distant objects clearly. It’s a very common condition—over ten million people suffer from it every year in India. While there are no official statistics, I am certain that this illness consumes far more people in the investment community than in medicine. Short-sightedness has plagued all parties…
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Vivek Sharma
Problem of Investing with Star Fund Managers
Investors have long elevated certain fund managers to celebrity status, creating a cult-like following around them. These star managers wield immense influence over the investing community, often making headlines, and the stocks they buy can skyrocket overnight. Over time, their identity becomes so intertwined with the fund itself that the fund and its manager become…
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Vivek Sharma
SEBI Mandates Disclosure of Information Ratio for Mutual Funds
The Securities and Exchange Board of India (SEBI), in its latest circular, has mandated that all Asset Management Companies (AMCs) disclose a risk-adjusted return measure called the Information Ratio (IR) from April. This article explores how the ratio is calculated, its usefulness in analyzing mutual fund performance, and the challenges associated with its use. Why…
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Vivek Sharma
The Sachet Revolution of The Mutual Fund Industry
The Securities and Exchange Board of India (SEBI) has released a consultation paper seeking public opinion on introducing sachetized mutual fund products—small-ticket SIPs of ₹250. This initiative aims to promote financial inclusion and instill a habit of systematic savings among the low- and middle-income segments of society, who largely remain divorced from equity markets. Much…
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Vivek Sharma
Long Alpha Performance Deep Dive: 2024
The year 2024 proved to be eventful for both the financial markets and Estee’s PMS – Long Alpha. We started the year with a bang, delivering approximately 10% return in January, significantly outperforming the BSE 500’s 2% return. Retail investor participation was remarkable, and the year seemed promising until challenges arose in October due to…
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Vivek Sharma
Gulaq Market Cap Portfolios
Gulaq is the retail investment advisory arm of Estee Advisors, a company with almost two decades of experience in creating quantitative investment products for institutional and high-net-worth investors. With Gulaq, we focus on helping retail investors, mainly through the Smallcase platform. We offer them portfolios that are built using the same research but packaged to…
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Vivek Sharma
Multicap vs. Felxicap: Which One Should You Invest In?
If you don’t understand the difference between multicap and flexicap funds, you’re not alone. Multicap and flexicap are two of the most popular equity mutual fund categories, and they often confuse investors when it comes to choosing the right one. While they may seem similar, each has its unique advantages. In this blog, I’ll break…
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Vivek Sharma
Skill vs. Luck – What Drives Investment Returns?
In stock market a good decision can lead to a bad outcome and a bad decision can lead to a good outcome. Luck plays a big role in investment outcomes but is often overlooked—sometimes intentionally. If you tell yourself, you just got unlucky, you are making excuses. If you tell yourself, you got lucky, you…
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