Book Review: Being Relevant

The Book ‘Being Relevant’ is written by the Founder of the Quant Group, Sandeep Tandon. Sandeep is very well known for his stewardship of the Quant Mutual Fund.

This Book was written way back in 2018 when the Quant Group took overs Escorts Mutual Fund. The Book was written to explain the investing beliefs, philosophy and tools to potential investors.

This Book had become very famous and very difficult to get and its only now that I was able to get my paws on it.

The Book is truly a master class on how to approach the markets from a very different and very active investing perspective.

The Quant core belief is that ‘Fundamental is the Atman, Liquidity is the Prana, Sentiments the Maya’. There are multiple proprietary indicators that the Quant group has built and the Book illustrates them richly with charts and data.

The Quant approach to markets is via the VLRT framework- Valuation, Liquidity, Risk Appetite and Time. There are detailed chapters on each one of these aspects.

There are detailed chapters on different asset classes and bold predictions on each. As expected, some predictions have come out to be true now 5 years later and some have not

One prediction which was prescient was “our indicators point to 3.8-4.2% as a critical threshold for US 10-year yields which could be breached decisively in 2023”

One prediction which failed spectacularly was ‘Going long Russian Equity indices & short US equities is our call for the decade’

The author believes in the concept of “Adaptive Alpha” which is very different from the “Buy Right, Sit Tight” approach of most Indian fund managers.

I would strongly recommend this Book to serious investors.

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