Some stuff I am reading today morning:
US-Iran talks likely to resume (Jerusalem Post)
US Naval blockade could strangle Iran’s economy (Iran Int)
Petrol, Diesel losses widen for OMCs (Rediff)
Trump’s Tariffs could be restored by July (MC)
Why Central Banks are selling gold (CNBC)
Stock Talk: Solar Module Stocks (FE)
China Shock 2.0 (FT)
The Rare Earth Trap (OP)
My investment beliefs (BI)
Key findings on Diversification (Morningstar)
Source: New Yorker
Some stuff I am reading today morning:
Risky showdown over Strait of Hormuz (WSJ)
Noida Labour unrest turns violent (ML)
Punjab manufacturing disrupted by Iran war (MC)
Pirojsha Godrej is new Chairman of Godrej Ind Group (Rediff)
Stock Talk: Tata Steel (FE)
SBI’s largest defaulter (BW)
AI in investing (2Point2 Capital)
April 2026 Memo to Investors (Stalwart Advisors)
What’s going on in Private Credit? (Howard Marks)
Silicon Valley & Defense Sector (The Street)
Which brings me on to more of this subject. “When to fire a manager” — this is quite
topical for us.
This is data from Cambridge Associates looking at when to fire
managers.
If you look at managers’ performance for three years before the change
— the ones who were hired outperformed 4.8%. In the last year before the change,
7.2% for the stars, minus 3.7% for the ones you fired. “You’re fired, you’re hired.”
And now the guys who were doing 7.2% underperform, and the ones who were
underperforming outperform — and so it is on one year and on three years.
