EQ Saturday Sapience #54

Equity Intelligence 17th February 2024

India's Vaibhav initiative is successfully repatriating Indian-origin scientists to enhance domestic research, while the CBIC harnesses AI for improved GST collections. Infrastructure expansion is poised to amalgamate Pune and Bombay into a singular megalopolis, as per Nadir Godrej's vision. Nat Bullard's decarbonization analysis underscores the necessity of clear present-day awareness for future sustainability. And many are wondering has Xi Jinping lost control of the markets; as a property crisis drags the economy into deflation, confidence is seeping away. 

  • Brain Gain: 75 Indian Diaspora Scientists to Return to India Under New Fellowship Scheme; Most from US, Canada… The scheme – Vaibhav – launched by the Department of Science and Technology (DST) has already completed its first call for proposals, and initiated the second call. The call is being made to all scientists of Indian-origin engaged in active research in a recognised institute abroad for at least five years to collaborate with a reputed institute/university, including the IITs back in India… Read more
  • 'Big Data, AI aiding higher tax collection'… Sanjay Kumar Agarwal, Chairman, Central Board of Indirect Taxes and Customs (CBIC), tells Fortune India what is driving the buoyancy in GST (Goods and Services Tax) revenues… Read more
  • Pune will become a part of Bombay with the Atal Setu; everything in between will be one huge megalopolis, believes Nadir Godrej… Read more
  • Decarbonization: Stocks and flows, abundance and scarcity, net zero. Nat Bullard’s presentation on the state of decarbonization told with climate, capital markets, technology, and sector data. A coherent view of the future begins with the clearest possible view of the present… Read more
  • Step back, though, and there is no mistaking the dismal bigger picture. The market value of China’s and Hong Kong’s equities is down by nearly $7trn since its peak in 2021—a fall of around 35%, even as that of America’s stocks has risen by 14%, and India’s by 60%. The decline signals a fundamental problem. Investors abroad and at home once saw China’s government as a dependable steward of the economy. Now this trust has seeped away, with severe consequences for China’s growth… Read more
  • “Markets are inefficient because of human nature—innate, deep-rooted, permanent. People don’t consciously choose to invest with emotion—they simply can’t help it…. In short, we believe market efficiency is a fine academic theory that is unlikely ever to bear meaningful resemblance to the real world of investing.” —Seth Klarman