EQ Saturday Sapience #155
Equity Intelligence 24th January 2026
Quote for the Week
“The numbers in any accounting report mean nothing, per se, as to economic value. They are guidelines to tell you something about how to get at economic value. But they don’t tell you anything. There are no answers in the financial statements. There are guidelines to enable you to figure out the answer. And to figure out that answer, you have to understand something about business.” —Warren Buffett
Picture for the Week
Podcast for the Week
Conversation with Neelkanth Mishra - Trump vs NATO: Tariffs, Greenland & the Future of the Global Economy… Watch more
Articles for the Week
On board the reform express: 10 milestones India must hit... When it comes to reforms, 2025 was the most significant year since the economic liberalization of 1991. GST was simplified, labour laws updated, and the Income Tax Act revamped. But that was just the beginning of a long and arduous journey… Read more
The odd thing about Modi’s mojo. Constraints make India’s prime minister govern better... Yet as America grows increasingly protectionist and erratic, India’s reformist turn deserves praise. Mr Modi could have responded to his setback at the ballot box, or to Mr Trump’s tariffs, in a much less constructive manner. Indians seem to have recognised that building a whizzier economy is the best way to gain global clout. Mr Modi should double down on economic pragmatism, and keep his divisive impulses in check… Read more
How the Indian Railways became electrified... The electrification of Indian Railways is not a single project with a clear finish line. It has been a long reorganisation of how the railways consumes energy and manages risk. In essence, it is a complete paradigm change. The positive sign is that electrification is already yielding the efficiency gains that were envisioned. The harder question is whether the railway and state utilities can maintain the coordination this new system now requires… Read more
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