Kurma Research & Advisory

Our belief: 

Kurma Research & Advisory is deeply inspired by the Samudra Manthan (churning of the Ocean) episode in the Hindu Puranas.

Kurma, (Sanskrit: “Tortoise”) is the second avatar (incarnation) of the Hindu god Vishnu. In this incarnation, Vishnu is associated with the myth of churning the ocean of milk. The gods and the asuras (demons, or titans) cooperated in the churning to obtain amrita (the elixir of immortality). The great serpent Vasuki offered himself as a rope, and Mandara (the mountain) was torn out for use as a churning stick. A firm foundation was required to steady the mountain, so Vishnu took the form of a tortoise and supported the churning stick on his back.

We see listed equities as our "Samudra" and the process of identifying investible ideas as "Manthan". In our "Samudra Manthan", we look for wealth-creating opportunities and avoid halahala (the poison), which may result in permanent capital loss.

Kurma avatar ("Tortoise") inspires us to focus on a conservative long-term investing approach, being risk averse and firmly believing that wealth creation is a multi-year process with no shortcuts.

Our pursuit: 

Identify durable businesses managed by exceptional leaders with a track record of prudent capital allocation. Investment decisions are based on deep research focusing on businesses capable of generating strong cash flows, reinvestment opportunities, capital allocation history, high margin of safety, competitive advantage, and corporate governance. 

Current Investments: