A š§µ to understand the philosophy in the book "Diamonds in the Dust"!!
What is the philosophy of Investment of Marcellus?
Invest in companies that have:
~ Clean promoters
~ Rational promoters i.e. taking proper capital allocation decisions
~ Dominant business i.e. monopolies
Fact about Indian markets
~ Most polarised markets of the world
~ 10 companies account for 90% of market profits
~ Half of the BSE 500 companies a decade ago are obscure now
~ 85% of the BSE 500 companies a decade ago failed to give returns above cost of capital