RupeeCase Blog
Systematic investing, in plain numbers.
Short, data-backed lessons on factor models, portfolio theory, drawdowns, the real cost of mutual funds and PMS, and the behavioural traps in between. Two a day. By Tanmay Kurtkoti, builder of RupeeCase.
Portfolio Theory
Volatility Drag
Monday morning. Friend forwards two MF factsheets. Both print \"10Y average annual return 12 pct\" in big type at the top.
Market Mechanics + Behavioural
Recency Bias + Factor Crowding
Thursday night. Friend texts a screenshot of a smallcase up 60 percent YTD.
Systematic Investing
Fii Flow Signal Vs Noise
Tuesday close. Three numbers on the desk. FII net buyer plus Rs 1329 cr.
Market Mechanics + Behavioural
Cash vs Profit
Tuesday afternoon at the desk. Two Q4 results land in the same hour. Two midcap industrials.
Systematic Investing
Cheap For A Reason . Value vs Trap
Sunday morning. A friend forwards a screenshot. The 30 cheapest stocks in Nifty 500 sorted by trailing P/E.
Systematic Investing
Emergency Fund . Six Months Rule + Vehicle Stack
Sunday chai with a friend. He asks how big his emergency fund should be.
Systematic Investing
Day 364 vs Day 366
A friend texted me Monday morning. He wanted to redeem an equity mutual fund the next day.
Portfolio Theory
Allcap Multi Asset Spotlight
Monday evening, factsheet on the screen. The strategy quoted its Sharpe ratio before its CAGR.
Portfolio Theory
Efficient Frontier
Sunday morning. Friend over chai. Says he is 100 pct equity. Asks why he would add gold to the book if gold compounds slower than equity.
Factor Models
Quality Factor
Friend opened his brokerage app on Friday after the four day rout. His boring stack of staples and pharma barely moved.
Systematic Investing
Sharpe Ratio Decoded
Friend forwarded a fund factsheet on Saturday evening. Highlighted the 14 pct CAGR over five years.
Portfolio Theory
Sequence Of Returns Risk
Friend asked over Saturday chai if he could retire at fifty. One crore in the corpus.
Systematic Investing
INR Record Low Redistribution
Wednesday at the desk. USD INR printed 95.85 today. Fresh record. Brent held above 105 for the third session running.
Market Mechanics + Behavioural
Mental Accounting
Cousin got his Diwali bonus last October. Two lakh straight in. The TV upgrade was done by Friday.
Strategy Spotlight
2W Rebalance Tax Math
Friend pinged on Tuesday evening with the same WhatsApp objection I have heard maybe fifty times now.
Personal Finance
Prepay vs Invest
Friend asked over coffee whether to prepay his home loan or invest the same five lakh instead.
Strategy Spotlight
Microcap . The Deeper You Go
Friend asked over the weekend why we do not just push every rupee into microcap.
Systematic Investing
Rolling Returns vs CAGR
Monday morning. A friend forwards a fund brochure with the headline \"18 percent CAGR since 2018\".
Systematic Investing
Momentum Factor Primer
Saturday morning. A friend WhatsApps me a screenshot of a momentum smallcase down 18 percent for the year.
Systematic Investing
Brent Absorbers vs Amplifiers
Saturday morning. Friend's brokerage app open on the kitchen counter. Nifty was basically flat for the week.
Portfolio Theory
Diversification Cliff
Sunday afternoon I pulled up two crisis charts side by side. March 2008.
Market Mechanics + Behavioural
Anchoring On Your Buy Price
Saturday morning. Filter coffee. My buddy slides his brokerage app across the kitchen counter and shows me a position that has been red for three years.
MF vs PMS vs RupeeCase
MF True Cost Stack
Friend texted his MF statement on Saturday morning. KIM at the top said TER 1.65 percent.
Factor Models
Low Volatility Anomaly
Friend asked me a question last week that took me an hour to answer properly.
Personal Finance
SIP XIRR vs Absolute
Cousin showed me his SIP statement over chai last Sunday. Number at the bottom said 33 pct.
Systematic Investing
Stops in feel not math . 07 May 2026 morning . RupeeCase
Friend texted me last week. He had been holding a name for two years. Got stopped out on a Tuesday at the recent low.
Systematic Investing
Rebalancing Harvests Volatility
``` Friend pulled his CAS out over coffee on Saturday. He had been upset about his five-fund SIP underperforming the index by a margin he could not explain
Systematic Investing
How Many Stocks Do You Own
Friend showed me his portfolio over coffee last weekend. Seven mutual funds.
Market Mechanics + Behavioural
Flow vs Direction
``` Got a message yesterday. Smart guy, runs his own portfolio. He had read that FII outflows in 2026 just crossed the entire 2025 number, and he was askin
Systematic Investing
The Cadence Question
Pulled the rebalance log on RupeeCase Large Midcap this week. The strategy moved 131 times in five years.
Systematic Investing
05 May 2026
Pulled the data on the 16 RupeeCase strategies last week and stopped on one comparison.
Systematic Investing
Sharpe Ratio Decoded
Pulled the Sharpe numbers across the marketplace last week. Wanted to know which strategy earned its return cleanly and which one earned it by sitting thro
Systematic Investing
Active MF Stripped
Stripped down HDFC Top 100 Fund last weekend. 29 years live. Rs 38432 Cr AUM.
Strategy Spotlight
Smallcap . The Honest Year
Tonight every chart show is going to talk BJP wins across states. By Tuesday open every retail screen will be tilting toward the domestic growth basket.
Systematic Investing
PMS 2 and 20 Math
Pulled the fee math on a 2-and-20 PMS structure last week. Not the abstract version.
Systematic Investing
Risk Profile Fit
Asked myself the question I keep forgetting to ask the people I onboard.
MF vs PMS vs RupeeCase
MF Cost Stack
Saturday morning I am staring at an AMFI factsheet for an average regular-plan large-cap active equity scheme.
Systematic Investing
Morning 2 May 2026
``` Pulled the NIFTY 50 weights this morning. Wanted to test something.
Strategy Spotlight
5 vs 20 vs 50
Saturday morning I am laying three RupeeCase strategy backtests next to each other on the same screen.
Systematic Investing
Evening 2 May 2026
``` Most people pick their first systematic strategy by chasing the highest CAGR they can find.
Strategy Spotlight
Energy Basket
Saturday evening I am sitting with the Energy Basket factsheet open. Most volatile card on the RupeeCase marketplace.