Individual investors should cultivate expertise the way firms nurture specialists, says Shreedhar Kanetkar|

Four years ago, a private equity firm, Warburg Pincus, bought a majority stake in WNS, a business process outsourcing firm based in Mumbai. By the time WNS got listed on the New York Stock Exchange on 26 July 2006, Warburg’s stake was worth about $425 million, some 10 times what it...