Today, Chanakya capital completed its seven years of journey as a PMS provider. We launched Chanakya PMS because we felt that making our investors wealthy was, and remains so forever, the most important endeavour for us.

Our investment through process has always been about understanding how the world, especially our choice of investee firms, really works. Someone said that good work had aesthetic appeal. We keep on discovering that all the time. In our research, the most important question for us is why is it like and why is it not like the best in the business world.

There have been quite a few Eureka moments in our journey. The biggest Eureka moment came with the learning that “more is different.” Learning more and more about a right company is the path to unravel its distinctiveness and beauty.

We work to acquire a lens to truth about the mind of the management, and imagination about there will be. It is about mastering the technique of counterpoint about a diverse, yet deeply connected factors of a business and the organisation.

In our mind, a key question always is whether we can make future predictions without recourse to adjustable parameters. In case of robustness of an investment portfolio, Mr. Nassim Taleb refers to this as anti – fragility. However, we strive beyond that – with curiosity about the long – term evolution of the world and our set of investing firms.

For our research and knowledge, we strive to achieve
1. Conceptual depth
2. Empirical validation, and
3. Simplicity.

The outcome and the flow:
Albert Einstein, when asked how he would feel if a recent experiment had failed to confirm his theory of general relativity, replied “I would have to pity the dear Lord, the theory is correct anyway.”

We choose to borrow our conviction from Mr. Einstein. Our CAGR, more so if adjusted for underlying portfolio risk, adds a lot to our self-belief in what we practice, robustness of our investment process, and the meaningfulness in what we do. All this also teaches us to continue to remain humble, curious, and foolish in our way for all the times to come.

From the day one, we have been focused on opportunities, associated risk, and the theory and practice of creativity:

“Handling risk is not the hardest part. It’s deciding which opportunities are worth it.” – Ray Dalio

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“In theory, there is no difference between theory and practice; in practice there is.” – Yogi Berra

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