Masterclass

Masterclass: Investing Through the Masters, Buffett's Framework Applied to Indian Markets

A deep study of the Buffett framework for serious independent investors, portfolio managers in training and HNI investors who already know how to read a company and now want a coherent investing philosophy. You will trace the framework from Graham through Fisher and Munger, apply the circle of competence and Buffett's four filters to Indian sectors, compute owner earnings and returns on tangible capital, judge management through candour and capital allocation, and set intrinsic value and margin of safety at Indian valuations. The course then covers temperament through real Indian market crashes, concentrated portfolio construction under Indian tax rules, Buffett's landmark deals translated into Indian parallels, his admitted mistakes, and where the framework has to be adapted for India. It closes with a full Buffett checklist run on a listed Indian company.

Value InvestingWarren BuffettCharlie MungerBenjamin GrahamPhilip FisherCircle of CompetenceOwner EarningsCapital AllocationIntrinsic ValueMargin of SafetyInvestor TemperamentConcentrated Portfolios
MODULES
9
DURATION
~7 hrs
TRACK
Value Investing

What You'll Master

Trace how Buffett's framework evolved from Graham's cigar butts to Munger's wonderful businesses at fair prices
Draw an honest circle of competence and apply Buffett's four filters to Indian sectors and companies
Compute owner earnings, return on tangible capital and incremental returns for an Indian company
Judge management through annual report candour, capital allocation and the one-rupee test
Estimate intrinsic value conservatively and set a margin of safety at Indian market valuations
Use Mr Market and the market cap to GDP ratio to act with discipline through Indian crashes and bubbles
Build a concentrated portfolio with sensible holding periods and sell rules under Indian LTCG rules
Recognise where Buffett's framework breaks in India and adapt it for promoter control, higher rates and small caps
Access Level
PRO
Everything included
Full Text Playbooks
Actionable Exercises
Mobile Reading Mode
Lifetime Updates

Curriculum Breakdown

Chapter 1: Where Buffett's Framework Comes From

4 Lessons
โ–ถ
Why Study the Masters, and Why Copying Them Fails10 min read
Preview
โ–ถ
Graham's Inheritance: Mr Market, Margin of Safety and the Cigar Butt11 min read
Preview
๐Ÿ”’
Fisher and Munger: From Cheap Stocks to Wonderful Businesses at Fair Prices11 min read
๐Ÿ”’
India's Own Practitioners: Chandrakant Sampat, Parag Parikh and Ramdeo Agrawal's QGLP11 min read

Chapter 2: Circle of Competence and the Four Filters

4 Lessons
๐Ÿ”’
Drawing Your Circle Honestly, and Using the Too-Hard Pile10 min read
๐Ÿ”’
Buffett's Four Filters: Understandable, Durable, Honest, Sensibly Priced11 min read
๐Ÿ”’
Mapping Indian Sectors onto the Circle: What Most Investors Can Actually Judge11 min read
๐Ÿ”’
Inevitables and Disruption Risk in Indian Businesses10 min read

Chapter 3: The Economics of a Great Business

5 Lessons
๐Ÿ”’
Owner Earnings: Buffett's 1986 Definition Applied to Indian Companies12 min read
๐Ÿ”’
Return on Tangible Capital and Incremental Returns11 min read
๐Ÿ”’
Pricing Power and Inflation: The See's Candies Lesson in an Indian Setting11 min read
๐Ÿ”’
Capital-Light vs Capital-Hungry: Why Berkshire's Textile Mill Nearly Sank It10 min read
๐Ÿ”’
Float, Insurance and Why Buffett Loves Cheap Liabilities11 min read

Chapter 4: Management, Integrity and Capital Allocation

5 Lessons
๐Ÿ”’
The Candour Test: Reading Indian Annual Reports the Way Buffett Reads Letters11 min read
๐Ÿ”’
The Five Uses of Cash and the One-Rupee Test11 min read
๐Ÿ”’
Buybacks, Dividends and Acquisitions: Good and Bad Indian Examples11 min read
๐Ÿ”’
The Institutional Imperative and Promoter Behaviour10 min read
๐Ÿ”’
Governance Red Flags Through a Buffett Lens10 min read

Chapter 5: Intrinsic Value and Margin of Safety

5 Lessons
๐Ÿ”’
Intrinsic Value as Discounted Cash: Buffett's Conservative Approach12 min read
๐Ÿ”’
Earnings Yield vs the G-Sec Yield: The Price You Pay Sets Your Return11 min read
๐Ÿ”’
The Arithmetic of Overpaying for Quality at Indian Valuations11 min read
๐Ÿ”’
Margin of Safety When Great Businesses Never Look Cheap11 min read
๐Ÿ”’
Market Cap to GDP: Using the Buffett Indicator for India, and Its Limits10 min read

Chapter 6: Mr Market and Temperament

4 Lessons
๐Ÿ”’
Mr Market in Indian Crashes: 2008, 2020 and the 2024-25 Small-Cap Froth11 min read
๐Ÿ”’
Be Greedy When Others Are Fearful: Having Cash and Conviction on Hand10 min read
๐Ÿ”’
The Discipline of Inactivity and Ignoring the Noise10 min read
๐Ÿ”’
Behavioural Traps Munger Warned About: The Psychology of Misjudgment11 min read

Chapter 7: Portfolio Construction the Buffett Way

4 Lessons
๐Ÿ”’
The 20-Slot Punch Card and the Case for Concentration11 min read
๐Ÿ”’
Holding Periods, Tax Deferral and Compounding Under Indian LTCG Rules11 min read
๐Ÿ”’
When Buffett Sells: Thesis Breaks, Better Uses and Overvaluation10 min read
๐Ÿ”’
Buffett's Advice to Most Investors: Nifty Index Funds10 min read

Chapter 8: Buffett's Big Deals, Translated to India

4 Lessons
๐Ÿ”’
See's Candies and GEICO: The Businesses That Shaped the Framework11 min read
๐Ÿ”’
Coca-Cola and American Express: Brands Bought in a Crisis11 min read
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Apple and BYD: How the Circle of Competence Grew Later11 min read
๐Ÿ”’
Indian Parallels: Finding the Same Economics on NSE and BSE12 min read

Chapter 9: Where the Framework Breaks, and the Capstone

3 Lessons
๐Ÿ”’
Buffett's Admitted Mistakes: Dexter Shoe, Airlines, IBM and Kraft Heinz11 min read
๐Ÿ”’
Adapting the Framework for India: Higher Rates, Promoter Control and Small Caps12 min read
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Capstone: Running the Full Buffett Checklist on a Listed Indian Company14 min read