CA Manish Goel

In 2011, three behavioural economists at Harvard Business School and Duke University — Michael I. multibaggershares.com/ikea-effect-no…

The Hidden Margin Lever No One Talks About According to the SEBI "Analysis of Profit and Loss of Individual Traders Dealing in Equity F&O Segment" study, 93% of individual F&O participants incurred net losses over FY22–FY24, with aggregate losses of multibaggershares.com/employee-cost-…

Almost every investor I meet is obsessed with one half of the economic equation: demand. Demand for cement, demand for chips, demand for credit, demand for chemicals. multibaggershares.com/marathon-capit…

It's Time to Buy Biotech According to CIO with Clients That Have +$25M #investing #rich #biotech share.google/60EaskFOqVV9U3…

Choice Overload — The Bias That Quietly Paralyses Indian Retail Investors In May 2026, the average Indian retail investor with a demat account can choose between roughly 5,000 listed equities on the NSE and BSE combined, ~1,500 distinct mutual fund multibaggershares.com/choice-overloa…

If a value investor were allowed to study exactly one governance disclosure in an Indian annual report, the smart choice would not be the audit report, not the board composition table, and not even the related-party schedule. multibaggershares.com/ceo-to-median-…

📅 Published May 22, 2026 (Friday) | 8:00 AM IST The Question That Started a 365-Stock Study In 2014, Christopher Mayer, then a portfolio manager at Bonner & Partners and now at Woodlock House FamilyCapital, set out to answer one question that every multibaggershares.com/chris-mayer-10…

If you have ever opened your portfolio after a bad market day and felt the loss with a sharper, longer, more visceral pain than the equivalent gain on a good day, you have lived inside the most foundational cognitive bias in behavioural finance: multibaggershares.com/negativity-bia…

When the National Stock Exchange of India crossed the eleven-crore registered investor mark in early 2026 — having scaled from roughly three crore in 2020 — a sobering reality became impossible to ignore. multibaggershares.com/audit-committe…

When Charles T. Akre Jr. multibaggershares.com/chuck-akre-thr…

Some of the greatest fortunes in American corporate history were not built by the most charismatic operators, the loudest brand-builders, or the most aggressive empire-acquirers. multibaggershares.com/outsiders-doct…

"In 1983, Amos Tversky and Daniel Kahneman published a six-page paper in Psychological Review with one of the most counter-intuitive results in cognitive psychology: when given a detailed description of a fictional woman named Linda, 85% of educated multibaggershares.com/conjunction-fa…

India now has over 11 crore unique investors registered with NSE as of 2025 — up from barely 3 crore at the start of the decade. multibaggershares.com/montier-modifi…

Most Indian retail investors look at a quarterly result, see a margin dip or a flat top-line, and immediately ask the wrong question: "Has the business broken?" The right question — the one Tom Russo has been asking for forty years at Gardner Russo & multibaggershares.com/capacity-to-su…

In April 2002, Stanford social psychologist Emily Pronin and her colleagues Daniel Lin and Lee Ross published a paper in the Personality and Social Psychology Bulletin with a deceptively simple title:"The Bias Blind Spot: Perceptions of Bias in Self multibaggershares.com/bias-blind-spo…

The Most Powerful Governance Signal That 99% of Indian Retail Investors Never Read India's equity investor base has multiplied roughly four-fold in seven years — from ~3 crore unique investors in FY18 to over 11 crore registered NSE investors today. multibaggershares.com/vigil-mechanis…

Warren Buffett does not actually invest. He filters. The investment is what remains after four filters have eliminated everything that does not belong. multibaggershares.com/buffett-four-f…

For more than a decade, behavioural economists have documented a peculiar — and counter-intuitive — pattern in how human beings handle financial pain. When markets rise, investors check their portfolios obsessively. multibaggershares.com/ostrich-effect…

India's retail investor base has gone from roughly 3 crore unique PAN holders at NSE in March 2019 to over 11 crore in 2025 — a near four-fold expansion in six years. multibaggershares.com/board-meeting-…

Seth Klarman is the most successful value investor most Indian retail investors have never heard of. multibaggershares.com/klarman-doctri…