Episodi
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My guest for today is William Green. William is the author of very popular book Richer, Wiser, Happier: How the Worldâs Greatest Investors Win in Markets and Life
Over the last quarter of a century, he has interviewed many of the worldâs best investors, exploring in depth the question of what qualities and insights enable them to achieve enduring success. Heâs written extensively about investing for many publications and has also given many talks about the lessons we can learn from the most successful investors, not only about how to invest but about how to improve our thinking.
Green has written for many leading publications in the US and Europe, including The New Yorker, Time, Fortune, Forbes, Barronâs, Bloomberg Markets, and The Economist. He has reported in places as diverse as China, India, Japan, the Philippines, Bangladesh, Saudi Arabia, South Africa, the US, Mexico, England, France, Monaco, Poland, Italy, and Russia. He has interviewed presidents and prime ministers including our own Manmohan Singh, inventors, criminals, prize-winning authors, the CEOs of some of the worldâs largest companies, and countless billionaires.
He also worked closely with a renowned hedge fund manager, Guy Spier, helping him to write his much-praised 2014 memoir, The Education of a Value Investor: My Transformative Quest for Wealth, Wisdom, and Enlightenment. Green also wrote and edited The Great Minds of Investing, which features short profiles of 33 renowned investors, along with stunning portraits created by Michael OâBrien, one of Americaâs preeminent photographers.
Born and raised in London, Green was educated at Eton College, studied English literature at Oxford University, and received a Masterâs degree from Columbia Universityâs Graduate School of Journalism. He lives in New York with his wife, Lauren, and their children, Henry and Madeleine.
Show Notes:
0:00-8:15 : Introduction
08:15-15:32 : About his book - âRicher, Wiser, Happierâ
15:32-22:37 : Important things William has learnt from successful people & their traits
22:37-37:21 : The 'Art of subtraction' & how it has helped & impacted William
37:21-42:26 : Role played by insights as well as luck for great investors
42:26-49:06 : What's it like to meet billionaires - there is a combination of arrogance, pride, vulnerability, fragility etc
49:06-53:51 : What drives Warren Buffett and his partnership with Charlie Munger for 50 odd years
53:51-1:00:19 : How does one balance between the concept of diversification and concentration
1:00:19-1:10:09 : How do great investors think through the market cycles, the chaos, the calmness
1:10:09-1:19:14 : Investment done by any person that has fascinated William
1:19:14-1:29:04 : Happiness quotient of rich & wise people
1:29:04-1:42:01 : Advice to 20 year self
1:42:01-1:50:40 : How does William bring himself back to normality after being with these rich people
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My guest for today is Vikas Khemani. Vikas is Founder & CEO of Carnelian Asset Management. He has ~25 years of capital markets experience, before founding Carnelian, he was CEO of Edelweiss Securities Ltd, where he spent 17 years incubating & building several businesses to leadership position including Institutional Equities and Equity Research. he enjoys strong relationships with Corporate India and is associated with several Industry bodies & committees including the CII National Council on Corporate Governance, FICCI Capital Markets Committee, Executive Council of Bombay Management Association. He is also a member of Young Presidents Organization (YPO), a global forum for entrepreneurs and CEOs and was awarded Young Professional Achievers Award for the service sector by the ICAI in 2014. His passion for investing took shape during his college days and continues to drive him.
Besides being an avid reader and poker player, Vikas enjoys yoga, meditation and has been running marathons since the last 15 years
This episode is brought to you by multipie.co where we believe Investing is an ignored life skill. Multipie is building up a platform where people can form communities and learn, share , collaborate on growing their wealth using the right tools. We want your hard earned money to work for you.
Show Notes:
00:00-02:40 Introduction
02:40-04:06 Vikas's EBC Trek Experience
04:06-10:11 About Vikas & Carnelian journey
10:11-13:55 Vikas's perspective on his tweet - "The desire to perform all the time is usually a barrier to performing over time."
13:55-18:02 Carnelian strategy and the shift in their strategy
18:02-21:40 Sector within Manufacturing sector where Vikas sees more potential
21:40-25:11 Does Vikas classify himself as a contrarian investor & when is big money made according to him
25:11-30:20 Vikas's best and worst investments
30:20-32:20 What is worse - 'Buying a wrong company' or 'selling a good company early'
32:20-35:34 Vikas's view on the financial sector
35:34-39:21 Vikas's view on the Reliance Industries
39:21-43:12 Investing lessons one learns from Poker
43:12-47:44 Vikas's view on digital businesses in India & their valuation
47:44-49:58 Stocks to avoid
49:58-53:00 Breaking Stereotypes
53:00-56:30 Healthy habits that one can incorporate in their daily life
56:30-1:00:10 How does Vikas make sure he is right on his spiritual track too
01:00:10-1:01:10 Book recommendation
1:01:10-1:02:30 Vikas's personal investment asset allocation
1:02:30-1:04:50 Regrets & things Vikas is looking forward to in life going ahead
1:04:50-1:07:01 Advice to 20 year self
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Episodi mancanti?
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My guest for today is Pravin Jadhav. Pravin Jadhav, or PJ is Founder & CEO of Raise Financial Services. He is known in the startup & technology ecosystem for building products from scratch and scaling them up from zero. Prior to Raise, Pravin was the Founder, Managing Director, and CEO of Paytm Money, where he built the product and company from zero to become India's largest investment platform.
In his previous roles, Pravin was Chief Growth & Product Officer at Servify, Head of Growth at Freecharge, and led product for Mobile and eCommerce at Rediff. He has 2 decades of experience across verticals like Invest-tech, Payments, eCommerce, Online Advertising, Social, Search, and Mobile.
This episode is brought to you by multipie.co where we believe Investing is an ignored life skill. Multipie is building up a platform where people can form communities and learn, share , collaborate on growing their wealth using the right tools. We want your hard earned money to work for you.
Show Notes:
0:00-2:27 Introduction.
02:27:00-8:54 PJ's journey.
08:54-15:00 What is PJ currently doing, how is it different from Paytm Money ?
15:00-22:49 How does PJ reconcile between traders & investors data sets?
22:49-28:52 How does Dhan's vision fit into the next phase of the broking industry?
28:52-33:22 How does PJ balance between the customer feedback and feature release?
33:22-38:01 Investor behaviour changes seen in recent times.
38:01-39:17 There are two applications by Raise - one for trading and other for investing, how does PJ reconcile and about branding?
39:17-43:59 Personal investment asset allocation of PJ.
43:59-49:14 Views on 'social meets investing'.
49:14-51:32 What makes PJ so active on social media? It's upsides & downsides.
51:32-58:50 How is PJ preparing himself ,being part of a startup, amidst the market slowing down ?
58:50-1:01:09 Breaking Stereotype according to PJ.
01:01:09-01:04:07 What advice will PJ give to his 20 year old self
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My guest for today is Amit Jeswani who is founder and CIO of Stallion Asset Management. Amit is a double charter and has successfully completed his Chartered Financial Analyst (Virginia, USA) and Chartered Market Technician (New York, USA) certifications. A graduate in business with finance from Kingston University, London, he has been investing in the capital markets from the last 13 years, having started at a tender age of 16 alongside his father who was a stock broker. With humble beginnings, he started Stallion Asset as a Research Analyst firm, and with the trust of his clients, Stallion Asset has scaled up to become a Portfolio Management Service Firm.
This episode is brought to you by multipie.co where we believe Investing is an ignored life skill. Multipie is building up a platform where people can form communities and learn, share , collaborate on growing their wealth using the right tools. We want your hard earned money to work for you.
Show Notes:
00.00- 2.09 mins: Introduction
2.10- 4.04 mins: Amit Jeswaniâs life journey & what made him enter equity markets
4.05- 7.55 mins: 1st biggest mistake while investing
7.56- 11.18 mins: What made Amit become an active investor from an active trader
11.19- 19.09 mins: What are the major trends Amit is optimistic on
19.10- 22.43 mins: Views on emerging monopolies (market leaders)
22.44- 25.16 mins: Interpretation of recent FII selling in the market
25.17- 28.50 mins: Fed has started tightening the market, time to be conscious now?
28.51- 36.50 mins: Which industry will benefit the most from the growth trajectory of increasing per capita income in India?
36.51- 41.09 mins: What are the specific segments Amit is specifically bullish on under PLI schemes announced by the government?
41.10- 45.15mins: New-age tech companies having long term superior advantage
45.16- 49.10 mins: What risk factors & other metrics to consider while allocating capital
49.11- 52.23 mins: Does Amit use technical parameters along with the fundamental analysis while choosing stocks for the portfolio
52.54- 59.04 mins: How Indian markets will look like in the next 10 years?
59.05- 1.01.20 mins: What advice will Amit give to his 20-year-old self?
1.01.21-1.04.54 mins: Investment stereotypes according to Amit?
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My guest for today is S Naren. Naren is the ED and CIO for ICICI Prudential AMC. Naren joined the AMC in 2004 as fund manager and has worked in various capacities in the investment function culminating in his taking over as the Chief Investment Officer. He oversees the entire investment function across the Mutual Fund and the International Advisory Business. He currently manages some of the flagship schemes of the ICICI Prudential Mutual Fund.
After obtaining a B. Tech degree from IIT Chennai, Naren finished MBA in finance from IIM Kolkota and worked with financial service organizations like Refco Sify Securities India Pvt. Ltd., HDFC Securities Ltd. and Yoha Securities in various positions prior to joining ICICI Prudential AMC.
Naren has many laurels to his credit. He is a leading voice on the Indian economy/ equity markets across the investment and financial services fraternity. Mr. Naren was also a member of the esteemed panel of invitees for the Honorable Prime Ministerâs Pre-Budget consultation meet for 2020. In recognition of his work, various leading investment authors have featured him through dedicated chapters in their investment books. He is widely recognized as Indiaâs leading Mutual Fund and Capital Market Investment Guru
Mr. Sankaran Naren is also a member of the Committee on Equity matters at AMFI.
This episode is brought to you by multipie.co where we believe Investing is an ignored life skill. Multipie is building up a platform where people can form communities and learn, share , collaborate on growing their wealth using the right tools. We want your hard earned money to work for you.
Show Notes
0.42: Introduction
3.00: Investing philosophy of S Naren over the years
5.51: Narenâs point of view on how global banks control the stock markets
9.04: RBIâs inflation view
11.03: How is the commodity led inflation impacting India and the markets
13.23: Narenâs approach to asset allocation
16.41: Thoughts on various asset classes
20.26: Views on Indian and global equities
22.10: Understanding value investing and avoiding value trap
26.18: Narenâs perspective on the metal sector from a value investing point-of-view
28.45: Narenâs thesis on the Indian banking sector
31.50: Retail participation in the stock markets
34.49: Thoughts on the insurance sector
35.56: Thesis on the real-estate sector and REITs
37.38: Learnings from Howard marks and Michael Mauboussin
40.17: Naren explaining his statement âInvesting is buying, sizing and sellingâ
42.09: Narenâs view point on India in the next decade
44.29: Narenâs personal investing journey
47.19: Outlook on the new growth loss making companies
49.36: Role of co-fund managers in the ICICI Prudential team
52.24: Challenges of having a small child at home and improvement in oneself
54.38: Narenâs view on the different stereotypes that investors have
59.17 Advice to your own 20 year self
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My guest for today is Siddharth Bhaiya. Siddhartha is the Managing Director and Fund Manager at Aequitas Investment Consulting Private Limited, a boutique investment firm focusing primarily on PMS and AIF offerings. He is a qualified Chartered Accountant and the driving force behind Aequitas Investment and has over 20 years of experience into Equity research and Equity Fund Management. With Siddharthaâs multibagger and contrarian stock picking approach, Aequitas has delivered ~31% CAGR returns over the last 9 years leading to ~1020% absolute returns. He has been instrumental in taking Aequitas from a start-up to a $250 mn AUM with one of the best performance track record in the industry. He believes in generating outsized returns by investing in small cap undiscovered companies. With exposure across all market capitalization companies, he is a specialist in bottom-up stock selection. Siddhartha started his career as a Research Analyst with Sushil Finance and has worked with Stratcap Securities, Principal PNB AMC & Reliance Capital Asset Management (RCAM).
This episode is brought to you by multipie.co where we believe Investing is an ignored life skill. Multipie is building up a platform where people can form communities and learn, share , collaborate on growing their wealth using the right tools. We want your hard earned money to work for you.
Show Notes
0.48- 2.47 Introduction
2.48- 5.05 Why Siddharthâs bio says - âI am the next multibaggerâ
5.06- 10.31 Siddharthaâs life journey before starting Aequitas & what made him start his own fund management company
10.31- 11.54 Aequitasâs journey from getting its first cheque from initial clients
11.55- 16.58 Psychology of money & how to actually implement it?
16.59- 20.10 How can one learn to hold stocks even during drawdowns?
20.11- 29.26 How to identify multibaggers & consistently hold on to them for a long period to create wealth
29.27- 32.55 What does contrarian investing actually mean?
32.56-40.52 Detecting right cycles at the right time
40.53-43.28 Sectors/themes Siddhartha is bullish on
43:00 Why bullish on Infrastructure as a sectoral theme
43:29 How should individual react to FED hikes and recent drawdowns
49:55 Aequitas 5 year performance and how did Siddharth bounce back post Mar-20 drawdown
53:09 What did Siddharth learn from his mistakes about selling stocks early
55:44 Views on IPO listings in 2021 and if Siddharth likes any
59:10 Do as the promoter do - how to track promoter activity
1:00:00 Why should parents teach delayed gratification to kids
1:03:16 Stocks that changed Siddharthâs life - Bharti Airtel and Avanti Feeds
1:06:08 Why should investors NOT research ideas not in their valuation range
1:09:00 Why Gold should be part of investment allocation
1:13:44 We are in the business of making mistakes, not repeating them
1:18:00 Book recommendation for all - One up on Wall Street
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We have a special episode today..we are bringing two of the worldâs leading crypto experts as guests.
Anthony Pompliano
Anthony âPompâ Pompliano is an entrepreneur and technology investor. Most people simply call him âPomp.â Pomp currently manages an investment portfolio valued at more than $500 million, including investments in many of the largest companies across the bitcoin and crypto industry.
Additionally, he hosts the popular podcast âThe Pomp Podcast,â which has been downloaded more than 20 million times. Pomp also writes a daily letter that is read by more than 150,000 investors each morning. Lastly, Pompâs interests lie at the intersection of finance, technology, entrepreneurship, and economics, which he tweets about extensively to his more than 700,000 followers.
Sumit Gupta, Co-Founder & CEO, CoinDCX
Sumit Gupta is Co-Founder and Chief Executive Officer (CEO) of CoinDCX, Indiaâs first crypto unicorn and the safest cryptocurrency exchange. As a pioneer in Indiaâs crypto industry, Sumit has been instrumental in bringing the emerging asset class to the consciousness of Indiaâs mainstream. In his role, Sumit is responsible for the overall strategy and growth of CoinDCX, and is the driving force behind the companyâs vision to onboard 50 million Indians into crypto.
As co-chair of the Blockchain and Crypto Assets Council (BACC), a part of IAMAI, whose members are crypto exchanges operating in India, Sumit is an influential industry figure who advocates actively for better understanding and adoption of crypto. Together with his team at CoinDCX, Sumit is committed to democratizing access to crypto for India, empowering Indians to manage their digital wealth in an increasingly digital and decentralized future. Sumit holds an Undergraduate and Masterâs degree from the Indian Institute of Technology Bombay.
Show notes
00:20 Introduction of Multipie and the show
01:11 Introduction of Crypto + Pomp + Sumit
03:15 Monetary revolution v/s technology revolution
05:51 Comparing Bitcoin to Digital Gold
08:20 Bitcoin as an investment opportunity for retail investors
11:13 Sumit's views on how the Indian govt. has been regulating the space in the last 4-5 years
14:50 How do exchanges like CoinDCX manage to handle the volatility in the crypto space?
16:21 Pomp's take on launch of a Bitcoin ETF in the US
18:42 Will cryptocurrency be accepted world-wide?
24:28 Cultural revolution in this industry
27:24 Are NFTs coming out as an application of the technology?
30:19 Views on selecting a currency out of the 5000+ already in circulation
32:43 Smarter application of the cryptocurrency
34:11 Takeaways on Dogecoin
35:19 Explaining Central Bank Digital Currency
37:14 Advice to young crypto enthusiasts
40:20 Closing remarks for Pomp
40:46 Sumit's take on Bitcoin as an replacement to gold
43:47 Looing into the metaverse from an Indian view point
46:22 Where does India rank in the global crypto space?
48:34 How are the Indian investors reacting to the market volatility?
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My guest for today is Hiren Ved. Hiren is the Co-Founder, Director, CEO, and CIO, Alchemy Capital Management. With over 30 years of experience in the Indian equities market and public market investing, Hiren Ved â has a long track record of alpha generation over 19 years. He has been Managing/advising funds worth 1 billion USD (as on 31 Dec 2021) across domestic and offshore mandates for Alchemy.
As the CIO of Alchemy Capital, he has developed a sustainable long term fundamental research-based investment philosophy that has helped in delivering consistent and superior long term returns for clients. This episode is brought to you by multipie.co where we believe Investing is an ignored life skill. Multipie is building up a platform where people can form communities and learn, share , collaborate on growing their wealth using the right tools. We want your hard earned money to work for you.
Show notes:
0:00 Introduction
2:43 What made Hiren Ved so fascinated towards stock markets?
7:10 What made Hiren from heading the equity research department to start his own PMS- Alchemy capital?
11:17 Hirenâs investing style - how it has evolved over the last 20+ years
14:25 What are several elements which made Hiren a successful investor & his key learnings from the market?
22:12 How to get exposure in different themes and different market cycles at the reasonably right time?
32:25 How does Hiren see the next 10 years in India?
48:41 What are the 3-4 sectors Hiren is bullish on?
59:30 Hirenâs view on recent drawdown in new-age tech companies & long-term view on new-age tech companies in India and globally.
1:13:35 Thoughts on impact of potential financial tightening in the US and India.
1:19:12 Hirenâs suggestion for new Investors
1:23:46 One important Investing stereotype which Hiren wants to break.
1:26:06 What does Hiren reads about except Equities & markets
1:30:41 What advice would Hiren give to his 20-year-old self?
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My guest for today is Radhika Gupta. Radhika is Currently MD & CEO of Edelweiss Asset Management Limited. She is a graduate from the Management and Technology Program at the University of Pennsylvania (USA); with joint degrees in Economics from the Wharton School & Computer Science Engineering from the Moore School,
She has recently been elected as Vice Chairperson at AMFI.
Radhika started her career with McKinsey & Company, and then progressed to become a hedge fund manager with AQR Capital â One of the worldâs largest Systematic Asset Managers.
She then moved to India to start her own venture named â Forefront Capital Management, an alternative asset management firm, which was acquired by Edelweiss in 2014.
A true global personality, having travelled across 4 continents, she is the founding President of the University of Pennsylvania Alumni Club, a member of the Global Leadership Council of the Management and Technology Program and a Board Member of the Association of Mutual Funds in India (AMFI). A keen micro-blogger on Twitter and an avid Bridge player, her unique life story narrated in the video, âThe Girl with a Broken Neckâ, has garnered over 1.8 L views.
This episode is brought to you by multipie.co where we believe Investing is an ignored life skill. Multipie is building up a platform where people can form communities and learn, share , collaborate on growing their wealth using the right tools. We want your hard earned money to work for you
Show notes:
0.35- 2.35: Radhikaâs Introduction
2.36- 5.42: Radhikaâs life journey
5.43- 9.07: Habits that Radhika shaped by living in Italy
9.08- 12.13: Thoughts on the importance of community
12.14- 16.05: View on Indian educational ecosystem
16.06- 19.10: Radhikaâs experience of starting the career by trading mortgage loans, Ninja loans, CDOs, etc.
19.11- 23.06: Experience during the financial crisis in 2008 in India
23.07- 25.26: What made her move to India from the US
25.27- 28.32: Learnings from building her own company- Forefront capital
28.33- 30.23: How she lost money due to poor asset allocation during the financial crisis
30.24- 35.03: Journey from becoming one of youngest CEOs & being lost initially to now completing 5 years in industry & feeling settled now
35.04- 38.5: How Social media helped Radhika so much in her life
38.6- 43.36: How are Debt index funds a better alternative to FDs
43.37- 47.55: What does Edelweiss look at before adding any company to their IPO fund
47.56- 52.04: The myths of Passive investing
52.05- 53.55: Is the retail interest towards markets structural?
53.56- 55.48: How can one have a portfolio which is very simple with an element thrill factor at the same time
55.49- 56.59: One habit that can help in becoming a better investor
57.00- 1.02.11: What can be done to increase women participation in financial services
1.02.11- 1.07.17: The importance of mental health in a workplace
1.07.18- 1.07.51: What advice she would give to her 20year old self
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My guest for today is Aditi Kothari. Aditi Kothari Desai is the Vice Chairperson of DSP Investment Managers Pvt Ltd. (DSPIM). She also heads Sales, Marketing and E-Business and serves as a member of the Executive Committee. Aditi is passionate about the digitization of the financial sector and was instrumental in the launch of all DSPâs digital platforms. Aditi joined Merrill Lynchâs investment banking group in New York in 1998, primarily working on M&A activities in the Financial Institutions Group. Subsequently, she worked in DSP Merrill Lynch as part of the fixed income team where she and I worked together as well. later she joined DSP Merrill Lynch Fund Managers in 2002 (now DSPIM). Aditi is a Trustee in the Hemendra Kothari Foundation as well as the Wildlife Conservation Trust. She is passionate about viewing and saving wildlife. Apart from being an Independent Director at Godrej Agrovet, she also serves on the Board of DASRA, a leading strategic philanthropy foundation in India.. Aditi holds a Bachelor of Science degree in Economics from the Wharton School of the University of Pennsylvania and an MBA from Harvard Business School.
This episode is brought to you by multipie.co where we believe Investing is an ignored life skill. Multipie is building up a platform where people can form communities and learn, share , collaborate on growing their wealth using the right tools. We want your hard earned money to work for you
Show Notes
00.00-2.18: Introduction
2.19-4.15: Life Journey of Aditi kothari
4.16-5.26: What made Aditi enter Fixed income industry from Investment banking
5.27-9.17: Trajectory in mutual fund industry (How 90Mn$ fund turned into 1.2Bn$ in just a year)
9.18-12.53: How was the digital transaction platform built in DSP?
12.54-14.47: Why DSP invested in smallcase?
14.48-18.46: View on future of digital platforms
18.47- 20.58: Which financial products have a high potential customer demand?
20.59- 23.11: Upcoming trends in the mutual fund industry.
23.12-26.58: What can be done to increase women participation in the financial markets?
26.59- 31.55: What financial independence actually means for women?
31.56- 33.19: Will the retail enthusiasm of directly investing in equities continue or will end with the bull market?
33.20- 34.36: Types of alternative asset classes
34.37- 34.31: Role of Aditi in philanthropy funds & trusts
34.32- 39.59: Advice to Aditiâs 20yr old self
40.00- 41.55: What motivates Aditi everyday?
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My guest for today is Nilesh Shah some one I admire a lot and whom I have the pleasure of knowing for last 25 years Nilesh Shah or Nilesh Bhai as he is popularly known as is Group President and Managing Director of Kotak Mahindra Asset Management Company Limited. Nilesh Bhai was part of the team that has received the Best Fund House of the Year Award at all the mutual funds where he worked viz. Kotak MF, ICICI Prudential and Franklin Templeton over last three decades. Nilesh Bhai is Chairman of Association of Mutual Fund in India (AMFI), Member of Mutual Fund Advisory Committee (MFAC) and a part time member of the Economic Advisory Council to the Prime Minister. Nilesh Bhai was featured in Top 50 People of India by India Today for CY 20.
This episode is brought to you by multipie.co where we believe Investing is an ignored life skill. Multipie is building up a platform where people can form communities and learn, share , collaborate on growing their wealth using the right tools. We want your hard earned money to work for you
Show notes:
00:25-02:30 Introduction
02:30-05:00 Personal Life of Nilesh Shah
05:00-06:20 Fixed income, first love of Nilesh Shah
06:20-07:00 Moved to Equity in 2003
07:00-08:45 Mutual Fund, just the right path
08:45-12:00 Views on the market
12:00-15:00 Corrections in small-cap & mid-cap
15:00-21:50 Comparison of the 2003-08 Capex cycle with current markets
21:50-27:20 Trends in the coming years
27:20-31:00 Role of Indian Government towards double-digit growth
31:00-34:10 Views on the Automobile sector
34:10-37:05 Why are people moving to safe asset classes?
37:05-39:00 Road ahead for Mutual Funds
39:00-41:50 Evaluating Fund Managers
41:50-44:00 Discount Brokerage Firms; partners in expanding the market
44:00-46:10 Nilesh Shah's Investment Strategy
46:10-47:35 Sectors that will play a pivotal role in the Capex cycle
47:35-50:15 Biggest Mistake during his career
50:15-52:25 Views on the Indian Fixed Income Market
52:25-55:35 Key takeaways on Crypto Industry
55:35-56:45 Predictions on the Market
56:45-57:45 Advice to 20 year own self
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We are kicking off a brand new series called Founder Series. Here at Founder Series we will be calling founders , CEOs and builders who have created world class businesses and deep dive into them.
My guest for today is Jitendra Chouksey. JC is a first-generation entrepreneur and Founder and CEO of Fittr, a community-driven online health and fitness platform. He took a simple idea of helping his friends and family get fit over WhatsApp and Facebook, and turned it into a 100-million-dollar enterprise. Today, Fittr has trained and transformed more than 200,000 people around the globe, provided jobs to over 600 people, and has democratized fitness. With a community spanning over 104 countries and 2.5 million people, Fittr is one of the hottest Indian startups backed by the likes of Suniel Shetty and Sequoia Capital. JCâs vision of the community stemmed from his intent to offer a safe and judgement-free environment for people. He aims to transform over 50 million people and create 100,000 jobs through Fittr. A winner of the BusinessWorld Young Entrepreneur Award 2020, JC is a certified Sports Nutritionist from International Sports Sciences Association (ISSA) and has an Engineering degree in IT.
For this episode I am also joined by my co founder, Mihir Patki who is very passionate about nutrition in same way as investing. He has been one of the early believers in Fittr as well.
This episode is brought to you by multipie.co where we believe Investing is an ignored life skill. Multipie is building up a platform where people can form communities and learn, share , collaborate on growing their wealth using the right tools. We want your hard earned money to work for you
Show notes:
0:00 - Introduction
2:31 - JC's life journey
9:01 - Why JC did not like Y Combinator?
11:36 - How Fittr stayed profitable even after giving sharing secret sauce in public?
13:45 - Culture development in Fittr community?
15:53 - Fittr's exploration in mental health and kids' fitness
17:54 - Transformation challenges between TC1 and TC13
20:14 - JC's hacks to change anyone's life
22:24 - Ups and Downs in Fittr's journey.
26:02 - How did JC imbibe rich culture in Fittr community?
29:08 - JC's early team and co-founders
36:52 - Suniel Shetty's impact on JC's life
40:02 - What will Fittr do with series A funds?
44:26 - Important numbers, metrics and future goals of Fittr
46:37 - Bursting myths about fitness
47:58 - Quick game on parallel between Investing and fitness
55:57 - JC's personal investing plans
59:04 - JC's advice for his 20-year-old self
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My guest for today is Swanand Kelkar. Swanand was a Managing Director at Morgan Stanley based in Mumbai till may 2021. He was part of the Global Emerging Market equity team, where he oversaw a public equities portfolio of about USD 3 billion. He joined Morgan Stanley as an Analyst in 2007 and rose through the ranks to become Managing Director in 2017. Funds advised by Swanand had top decile performance between 2014 and 2017. The India SICAV fund was nominated for and won the best fund award in Citywire rankings in 2017. Before Morgan Stanley, Swanand has worked with Fidelity International and HSBC Asset Management
He graduated in Commerce from University of Mumbai and is a Chartered Accountant. His love for equities and investing made him follow up his accountant qualification with an MBA from IIM Ahmedabad, one of the top business schools in Asia. Swanand has been an op-ed contributor to Mint, Bloomberg, and Open Magazine writing on investing, markets and Indian macro and has also appeared as an expert on Bloomberg TV, CNBC and ET Now. He writes a monthly column for Bloomberg Quint.
In 2020 Swanand took a one-year sabbatical from his corporate job. During that year he became a qualified yoga teacher certified by World Yoga Alliance, published short stories, trained at the Gary Kirsten cricket academy in Cape Town and learnt how to cook a five-course meal.
This episode is brought to you by multipie.co where we believe Investing is an ignored life skill. Multipie is building up a platform where people can form communities and learn, share , collaborate on growing their wealth using the right tools. We want your hard earned money to work for you
Show notes:
0:00: Introduction
5:18: From Gangadhar to Shaktimaan - how did sabbatical change Swanand
6:52: On setting dozens of âNo Agenda Meetingsâ
10:23: Should macro-economy matter for individual investors
12:40: Capex vs consumption cycle - Why L&T can outperform HUL
15:23: Swanandâs mistake of making pure macro call
18:36: Why India has a valuation premium vs. other Emerging Markets?
25:30: Superior returns comes from out-behaving & not out analysing
27:32: Say âI donât knowâ more often and focus on process vs khabar
34:12: Swanand's stock and portfolio construction approach
37:30: Concentrating to one sector OR across industries
40:21: Swanand's longest investments
41:43: Active vs. Passive investments
46:23: How to access recent IPOs?
50:57: How to choose: Asset heavy vs. Asset light?
52:44: Hard to fail when you aim high enough
56:33: Attitudinal shift in GenZ
1:01:03: Actionable ideas from GenZ trend
1:05:21: Thoughts on recent China's crackdown
1:07:49: Myth that everyone believes in
1:10:38: Lessons from Vipassana and Cricket
1:16:31: Book recommendations
1:18:10: Advice to Swanand's 20yr old self
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My guest for today is Andrew Holland. Andrew is currently CEO of Avendus Capital Public Markets Alternate Strategies LLP . He joined Avendus Capital from December 2016. Prior to joining Avendus, Andrew was the CEO of Ambit Investment Advisors where he built one of Indiaâs largest and most successful Hedge Funds. Before that he was the Managing Director â Strategic Investment Group for Merrill Lynch in India where he and I worked togehter for a decade. Andrew was the Chief Administrative Officer and Head of Research at Merrill Lynch in India. He successfully built DSP Merrill Lynch to a top Research Broking House which got top ratings in Asia Money, Institutional Investor and Greenwich.
This episode is brought to you by multipie.co where we believe Investing is an ignored life skill. Multipie is building up a platform where people can form communities and learn, share , collaborate on growing their wealth using the right tools. We want your hard earned money to work for you
Show notes:
01:36 - Why did Andrew move to India?
05:49 - Thoughts on India's longest rally without 10% decline
08:08 - Corollary with 2003-2007 capex cycle and FII flow into India
12:04 - Are we at the start of a capex cycle from the private sector?
14:55 - Misconceptions around Hedge fund investing
18:23 - How will the Fed's tapering impact Indian and global markets?
25:42 - India's green shoots and slowdown in global ecosystem
30:37 - Where are we in the "Commodity bull run"?
33:24 - Andrew's take on Valuations of Indian market
38:01 - Which sectors are overestimated and underestimated?
43:22 - Future course of action for Avendus Capital
48:07 - Andrew's best long and short calls
56:22 - Investment Stereotype Andrew wants to break
59:20 - Andrew's advice to his 20yrs old self
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We are kicking off a brand new series called Founder Series. Here at Founder Series we will be calling founders , CEOs and builders who have created world class businesses and deep dive into them. My guests for today are Neha Singh and Abhishek Goyal, Co Founders of Tracxn
Tracxn is one of the largest private market intelligence platforms tracking Startups & Emerging Technology Sectors globally like IoT, Blockchain, AI, Robotics, FinTech, CyberSecurity and more. Used by Venture Capital Funds, Private Equity Funds & Fortune 500 Corporates across 50 countries.
Prior to Tracxn Neha was a Venture Capitalist at Sequoia Capital. Before Sequoia, Neha was a Consultant at The Boston Consulting Group (BCG). Engineer by background, Neha did her BTech & MTech in Computer Science & Engineering from IIT Bombay where she graduated with Institute Silver Medal. She also got the Google Women in Engineering Award recognising women student achievers in the field of CS. Neha did her MBA from Stanford Graduate School of Business. She has been awarded Fortune 40 under 40 by Fortune India Magazine and Outstanding Women Award by Outlook Business.
Abhishek is a graduate from IIT Kanpur, worked with Yahoo and Amazon before joining Accel and then starting Tracxn. He has been recognised as part of the â40 under 40â list by Fortune India in 2018 and 2019.
In various avatars (Accel, Tracxn Labs & personally), he has invested in 150+ startups over last 13 years which included names like Flipkart, Delhivery, Rupeek, Gameskraft, Airmeet, and Lafz.
This episode is brought to you by multipie.co where we believe Investing is an ignored life skill. Multipie is building up a platform where people can form communities and learn, share , collaborate on growing their wealth using the right tools. We want your hard earned money to work for you
Show notes:
0:00 - Introduction
3:20 - From Engineer to VC to Founder: How Neha shaped her career?
6:02 - Abhishek's career journey from a conventional family to founding Tracxn
9:44 - Tracxn Journey from Inception
12:36 - How does Tracxn collect data at scale?
14:11 - Tracxn's early vision
15:55 - Highs and lows in starting days
18:55 - Tracxn's growth and competition story
22:56 - Tracxn's drive: Private market investors vs. Large corporates
24:44 - Impact of Tracxn on Private market investing
27:42 - Future of traction in next 10 years
29:46 - Will Tracxn serve retail investors too?
31:31 - Sales strategy of Tracxn
34:21 - Evolution of Indian Unicorns & Startup ecosystem
37:00 - Are VCs too bullish on Indian startups?
39:43 - Lessons from failing startups
42:41 - Secret of successful VCs
45:55 - Women in the Indian startup ecosystem
49:05 - What's Future of work: Remote or In-office?
50:58 - Thoughts on Indian startup IPOs
55:34 - Avenues to look at while investing in Private companies
58:01 - Rapid Fire Round đ„đ„
59:02 - Top 3 startups to watch out for
1:00:43 - Learnings from life as a VC and Founder
1:04:57 - Advice to 20yr old self
1:07:35- How does it feel to have a spouse cofounder?
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My guest for today is Yashish Dahiya. Yashish is Co-Founder & Group CEO, Policybazaar.com
In over 12 years, Yashish has grown Policybazaar to become a key influencer in consumer decisions around insurance. He believes death, disease and disability products are the future of the insurance industry, as India strives towards social security. He is an avid sportsperson, and has worked in the past as MD of Ebookers Plc and consultant with Bain & Co in their London office.
This episode is brought to you by multipie.co where we believe Investing is an ignored life skill. Multipie is building up a platform where people can form communities and learn, share , collaborate on growing their wealth using the right tools. We want your hard earned money to work for you
Show notes:
0:00 - Intro
1:19 - Yashishâs career journey
3:50 - What does Policybazaar do?
6:10 - How is Policybazaar different from a traditional insurer?
8:35 - Changing lack of health insurance cover in India
9:18 - Why you shouldnât buy savings products
10:24 - Policybazaarâs USP
12:18 - Understanding Policybazaarâs journey
17:18 - Yashishâs views on journey with Info Edge
19:19 - Shifting consumer mindsets in the insurance sector
21:46 - How did insurance start?
22:57 - Upcoming trends in the insurance sector
24:13 - Has COVID accelerated insurance adoption?
25:15 - Insurance advice for your financial planning
29:02 - Why is Yashish able to spread insurance education so effectively?
32:01 - Impact of fitness on Yashishâs life
34:33 - Is there âease of doingâ business in India?
37:38 - An insurance stereotype Yashish wants to break
38:36 - Advice to Yashishâs 20yr old self
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My guest for today is Vishal Khandelwal. Vishal is the founder of SafalNiveshak.com, an initiative to help people learn the art of value investing and behavioral finance to be able to make better investment decisions. The site, which he started in 2011, is subscribed by more than 90,000 readers and has been ranked among the best value investing blogs worldwide. Vishal is also the author of The Sketchbook of Wisdom, which is packed with 50 timeless ideas from the wisest people who have walked this Earth. Vishal calls it a manual on virtue, happiness, and the pursuit of wealth and good life.
This episode is brought to you by multipie.co where we believe Investing is an ignored life skill. Multipie is building up a platform where people can form communities and learn, share , collaborate on growing their wealth using the right tools. We want your hard earned money to work for you
Show notes:
0:00 - Intro
1:32 - Vishalâs journey with Safal Niveshak
8:45 - The story behind âThe One Percent Showâ
11:19 - What made Vishal write âThe Sketchbook of Wisdomâ
13:55 - How and when Vishal found his Ikigai
16:25 - Writing on behavioral finance v/s stock ideas
17:43 - Why Vishal does not like writing about stocks
19:48 - Simplifying personal finance
23:30 - Approaching insurance planning
26:20 - What is the need for financial education
28:42 - Understanding the âRobinhood generation of investorsâ
30:40 - How should you navigate bipolar markets?
32:58 - Have markets become short-term on an average?
35:48 - How can one avoid the trap of short-term investing?
39:20 - Becoming an investment Buddha
42:48 - How can you navigate market cycles?
47:13 - Vishalâs lessons from his podcasts
50:40 - Strategically copying investment styles
51:37 - Who has impacted Vishalâs investing strategy?
53:30- Why Vishal loves being an educator
54:08 - How has meditation helped Vishal?
57:52 - An investing stereotype Vishal wants you to break
1:01:30 - Understanding our complicated relationship with money
1:02:47 - Resolving the gender divide in finance
1:07:22 - How does Vishal read & journal?
1:10:20 - Vishalâs advice to a 20 year old today
1:12:40 - Advice to a young parent
1:13:48 - Vishalâs views on Crypto
Books referenced
Poor Charlieâs Almanack
Think Twice: Harnessing the Power of Counterintuition- Book by Michael J. Mauboussin
Black Swan-Nassim Taleb
Education of Value Investor- Guy Spier The Sketchbook of Wisdom-Vishal Khandelwal -
My guest for today is Raunak Onkar. Raunak is a Co-Fund Manager & the Research Head at PPFAS Mutual Fund. After a Bachelors in IT & an MBA in Finance, Raunak started his capital markets journey with PPFAS, over a decade ago. As an analyst he covers a variety of businesses & sectors and is a regular speaker at PPFAS' Monthly Financial Opportunities Forum series on Youtube (https://ppfasfof.com/).
This episode is brought to you by multipie.co where we believe Investing is an ignored life skill. Multipie is building up a platform where people can form communities and learn, share , collaborate on growing their wealth using the right tools. We want your hard earned money to work for you
Show notes:
0:00 - Intro
1:29 - Raunakâs Journey with PPFAS
3:30 - PPFASâs investing ideology
5:20 - Relevance of valuation and P/E multiple
10:04 - How can one build conviction in their investing strategy?
14:09 - Understanding âmodern monopoliesâ and âmoatsâ
18:25 - Navigating through the information overload
24:43 - Raunakâs views on behavioural investing and biases
31:30 - Why should one invest in global equities?
33:20 - How can a retail investor invest internationally?
34:30 - Learnings from analysing international equities
37:29 - Raunakâs outlook for Indian markets
40:44 - PPFASâs notification on increasing exposure to smallcaps
41:38 - PPFASâs risk management strategy
44:06 - The battle of Capex heavy v/s Platform businesses
46:40 - How does Raunak learn from literature and movies?
51:11 - How to journal your thoughts optimally?
52:46 - Reading books effectively and quickly
55:10 - An investing stereotype Raunak wants you to break
57:31 - Who does Raunak look up to?
59:45 - Raunakâs advice to his 20yr old self
References
Thinking fast & slowOn Life & work of Daniel Kahneman & Amos Tversky - Undoing Project
Gerd Gigerenzer's books
Gut Feeling
Risk Savvy
Good video presentation on key concepts of Gerd's work - CFA Institute Video
Film about honing our heuristic ability - Sully
Deep Work by Cal NewportCalling Bullshit - the book
Calling Bullshit - the course (also available on Youtube)
Investment Checklist by Michael Shern - The Book
Mathew Walker - Why we sleep - The Book -
My guest for today in Nimesh Shah, MD and CEO of ICICI Prudential AMC. Nimesh joined ICICI Prudential AMC (IPAMC) in July 2007 as the MD & CEO. Under his leadership the AMC has emerged as one of the largest, most respected, and trusted Investment Managers in India; having contributed significantly to the growth of the Indian Mutual Fund Industry.
Over the past 14 years, under Nimeshâs leadership, IPAMC has transformed into India's premier investment manager aligned to investor interest and leveraged digital innovations to improve its customerâs investment experience.
Under his leadership, the AMC has won several prestigious and globally recognized awards from time to time.. The most recent awards include the globally recognized Morningstar Awards 2021- Best Fund House: Debt, The Economic Times Best Brands 2020, India Today most preferred Brands. Nimesh has been honored with the prestigious Global Banking & Finance Award for Best Asset Management CEO India in 2017 and the CEO of the Year 2014 by Asia Asset Management.
In 2018 he was the Elected Chairperson of the Association of Mutual Funds in India (AMFI). He is currently a Director with AMFI and also serves as a Governing Council Member with ICICI Foundation.
Nimesh has nearly three decades of experience in the banking and financial services industry and most of which has been with ICICI Group. He holds degrees in Chartered Accountancy and Cost Accountancy.
This episode is brought to you by multipie.co where we believe Investing is an ignored life skill. Multipie is building up a platform where people can form communities and learn, share , collaborate on growing their wealth using the right tools. We want your hard earned money to work for you
Show notes:
0:00 - Intro
2:34 - Journey with ICICI
6:06 - Navigating an AMC through 2008
11:25 - Views on Indian markets and an RBI induced rally
16:40 - Understanding the Indian investor
18:45 - Designing products for the Indian investorsâs psychology
19:40 - Responsibility of an AMC as part of the larger group
21:50 - Being a supermarket of Mutual Funds
24:10 - Outlook for passive funds in India
26:37 - Creating an AMC for the âretired school teacher of Guwahatiâ
28:00 - How to choose funds & trusting âbig brandsâ
34:03 - ICICI Prudentialâs leadership structure to manage diversity in investing strategies
39:20 - Opportunity presented by digital penetration to the MF industry in India
41:50 - Understanding the behaviour of the millennial investor
44:35 - Advice to a young investor on asset allocation
47:14 - Views on investing in global equities
52:10 - Nimeshâs routine after the day in the office ends
52:55 - Who does Nimesh look up to?
55:00 - Advice to 20yr old self
56:25 - Closing
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My guest for today is one of Indiaâs most celebrated public market investors and educators, given his penchant to share his learnings frequently. Saurabh Mukherjea is the Founder and Chief Investment Officer of Marcellus Investment Managers. Saurabh was educated at the London School of Economics where he earned a BSc in Economics (with First Class Honours) and an MSc in Economics (with distinction in Macro & Microeconomics). In London, Saurabh was the co-founder of Clear Capital and in 2007 he was rated by the Extel Survey as one of the top small cap analysts in the UK. In India, Saurabh was rated as the leading equity strategist in 2015, 2016 and 2017 by the Asiamoney polls. Prior to setting up Marcellus, Saurabh was the CEO of Ambit Capital.
Saurabh is a CFA charter holder and a SEBI registered investment advisor. In 2017, upon SEBIâs invitation, he joined SEBIâs Mutual Fund Advisory Committee. In 2019, Saurabh was part of the Expert Committee constituted by SEBI to update and upgrade the PMS regulations. Saurabh has written four bestselling books â Gurus of Chaos (2014), The Unusual Billionaires (2016), âCoffee Can Investing: (2018) and âThe Victory Project: Six Steps to Peak Potentialâ.
This episode is brought to you by multipie.co where we believe Investing is an ignored life skill. Multipie is building up a platform where people can form communities and learn, share , collaborate on growing their wealth using the right tools. We want your hard earned money to work for you
Show notes:
0:42 - Introduction about Saurabh
2:18 - Saurabhâs âCoffee canâ approach; highlights on Asian Paints, Nestle, Bajaj Finance, Divis
6:39 - Tracks less than 30 stocks that meet his criteria.
10:20 - Views on the state of income in India and a parallel with America
12:37 - How to identify a company with a monopoly Deep dive into understanding barriers
18:34 - Discussion on various PMS schemes at Marcellus and selection process
27:38 - Discussion on Rupee vs Dollar and Investing mindsets in India
30:01 - Saurabhâs view on Indian Real Estate as an Investment
35:20 - Saurabhâs thoughts on valuations 3 metrics Saurabh considers before selling a stock
44:00 - Perspective on ITC and why they exited it
46:55 - How can a retail investor conduct basic forensic checks
48:35 - A good business vs a good investment
54:07 - Investing in Nifty index versus Investing in stocks
56:51 - Behavioural aspects of investing
58:33 - Saurabhâs take on âBreaking Investment Stereotypesâ
1:00:38 - Saurabhâs advice on writing and journaling along with some book recommendations
1:06:10 - Advice to 20 year old self
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