The Journal
A quiet library of essays, working notes, and field observations. One or two pieces a month. No market commentary, no hot takes — just the thinking that sits behind what we actually do.
A retired schoolmaster, a leather notebook, and the same mango farm sold three times in twenty-five years — at two crores, sixty lakhs, and ten crores. The trees never changed. Only the price did. A parable on the question every wealthy family asks of a flat or a piece of jewellery, but stops asking around equity.
ValuationThe next decade could be more volatile than most investors expect. The question worth asking is not whether volatility is coming, but what kind of portfolio will be ready — not just to survive it, but to profit from it.
Portfolio constructionThree clients in the last month have asked to move half their portfolio into US AI. The instinct — that capital should follow opportunity wherever it lives — is correct. The trouble is, the price they want to pay for the move is the price after the move has already happened.
Global investingThe next bear market is already on its way. The question isn’t whether you’ll panic when it arrives — it’s whether you’ve already built the part of your portfolio that lets you stay seated. On the goal in wealth management nobody quite names out loud.
Risk & certaintyEvery wealth statement quotes a number. Almost none of them quote the number that actually compounds. The arithmetic that separates the two is simple — it just doesn’t get done out loud.
The science of investingThe slab structure shifted in October 2025. Here is what each tier looks like in practice, what counts toward the threshold, and where families most often trip up on the paperwork.
NRI & cross-borderA decade ago, the conversation was about getting money out. Today it’s about where it lives, who reports it, and what it owes — to whom and when. The architecture is changing faster than the advice has caught up.
Global investing