Independent Finance Research
I read markets the way some people read literature — closely, and for a living.
I'm Pulkit Sanganeria. I write first-principles analysis of the forces that move global markets: energy and geopolitics, the dilemmas of central banks, the quiet mechanics of private capital. No noise, no hot takes — just the discipline of figuring out what is actually true.
The Research Desk
Three questions I couldn't stop thinking about.
The Ripple Effect: Economic Ramifications of the US–Iran Conflict on Middle Eastern Markets
How geopolitical risk reprices oil, sovereign balance sheets, and equity volatility across the Gulf.
Central Bank Dilemmas: Navigating Interest Rates in a High-Inflation Decade
The policy trade-offs facing central banks when credibility, growth, and prices pull in opposite directions.
The Private Equity Evolution: Value Creation Beyond Financial Engineering
Why the next era of private equity returns will be earned in the operating company, not the capital structure.
The thesis behind the writing
Markets are the closest thing we have to a real-time argument about the future. Every price is a sentence in that argument. My work is learning to read it carefully — and to write back.
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