79 episodes

Capitalmind looks at stocks, bonds, funds and the macro to bring you their view on the Indian financial markets. We discuss all things related to investing at our focussed podcast that keeps it simple. For more, go to capitalmind.in and to invest with us, visit capitalmindwealth.com

Capitalmind Podcast Capitalmind

    • Business
    • 4.8 • 93 Ratings

Capitalmind looks at stocks, bonds, funds and the macro to bring you their view on the Indian financial markets. We discuss all things related to investing at our focussed podcast that keeps it simple. For more, go to capitalmind.in and to invest with us, visit capitalmindwealth.com

    What is front running, really?

    What is front running, really?

    Picture this: You’re at your favourite bakery, and you overhear that a celebrity is about to place a massive order for your favourite pastries. You rush to buy them all up before the celeb can, hoping to sell them back at a premium. That, in essence, is front running in the financial world. 
    We discuss how people pull off this trick and, more importantly, how they get caught. 
    (Spoiler alert: it’s not as glamorous as a Hollywood heist)
    Axis Mutual Fund had their share of front running drama not too long ago. Traders making big bucks, splurging on luxury pads and flashy cars—sounds like a plot from "The Wolf of Wall Street”. We’ll break down the fallout and the lessons learned.
    Currently, Quant Mutual Fund is going through allegations about front running. 
    How do you, as an investor, make sense of these allegations and decide on your next move? 
    Should you hold onto your Quant Mutual Fund investments or start thinking about an exit strategy?
    We talk about all this and more in our latest episode of Capitalmind Podcast.
     

    • 59 min
    The Hulla Over Inheritance Tax

    The Hulla Over Inheritance Tax

    Recently, the mere hint of an inheritance tax proposal sparked a mini-political crisis? Thanks to a quick government rebuttal, it’s off the table—at least for now. But that’s not where the story ends.
    As always, Deepak and Shray go head-to-head, weighing the merits and pitfalls of this hot-button issue. 
    We’re not just looking at the problem from 30,000 feet; we’re getting into the weeds, examining real-life scenarios and potential solutions that could impact you and your future.
    Government Finances: Can an inheritance tax significantly boost government coffers? Or is it just another drop in the ocean of fiscal needs?
    Societal Impact: Will taxing inheritances create a more industrious society, or will it just penalise those who’ve worked hard to create wealth for their children?
    Implementation: What if we set the bar high, say at 100 crores or even 1000 crores? Would this make the tax more palatable and targeted?
    Practical Hurdles: Imagine inheriting a house or a business. Sounds dreamy until you hit the wall of unrealised gains and logistical nightmares. We’re peeling back the layers on these challenges.
    Future Planning: If you’re expecting a windfall 5 or 10 years down the road, how should you plan your finances today? Spoiler alert: It’s not as straightforward as you might think.
    So, grab your headphones and tune in. Whether you’re a financial novice or a seasoned investor, this episode promises to challenge your thinking and maybe even make you laugh along the way.
    Timestamps:
    00:00 Introduction and Disclaimer
    01:25 Should we have an inheritance tax?
    07:36 What if inheritance tax is imposed solely on the wealthy?
    15:42 Creating a Trust to offset tax
    25:04 Are there significant practical difficulties associated with inheritance tax?
    35:08 Doesn't implementing an inheritance or wealth tax help reduce asset prices or control inflation?
    42:58 How should one prepare for potential inheritance taxes in the future?

    • 50 min
    Momentum Investing in India with Anoop Vijaykumar

    Momentum Investing in India with Anoop Vijaykumar

    In this comprehensive discussion, Fund Manager and Head of Research Anoop Vijaykumar and Shray Chandra distil the key lessons from over five years of managing the Capitalmind Adaptive Momentum portfolio.
    Get a concise overview of the principles of momentum investing driving the portfolio’s success.
    Learn from our real-world lessons on why momentum investing works for long-term wealth creation
     
    00:36 Introduction
    01:54 Momentum strategy in the last 5 years
    03:30 Difference between the fundamental and quantitive styles
    08:00 Random correlations when backtesting a quantitive strategy
    10:30 Capitalmind Adaptive Momentum strategy
    15:05 Why does momentum investing work?
    18:54 Lessons learned from 5 years of managing momentum strategy
    26:00 Will momentum stop working
    29:30 How can we get more out of the momentum strategy?

    • 33 min
    All is forgiven in the financial markets

    All is forgiven in the financial markets

    Have you ever wondered why finance seems to have a forgiving nature?
    From the sins of the past being easily forgotten to the belief in second chances, we'll explore the nuances of forgiveness in the financial realm.
    We'll dissect the tactics some "for education purposes only" players use to enrich themselves at the expense of their students. It's a sobering reminder to always question the motives behind the message.
    We uncover the darker side of startup culture, where founders blur the lines between innovation and exploitation. It’s a cautionary tale for aspiring entrepreneurs and investors alike.
    Deepak & Shray, in their quintessential style, discuss nuances of investing and finance in this latest episode of Capitalmind Podcast.
     
    Show Notes & References
    00:00 Introduction and Disclaimer
    01:35 Why is finance a uniquely forgiving industry?
    19:37 Deepak’s views on AT 1 Instrument
    28:23 How do customers react to their fund managers' pros and cons?
    57:57 Critical look at how some financial educators profit heavily from courses that may not benefit students as promised.
    01:05:40 A look into the darker side of startup culture where founders misappropriate funds and then start new enterprises.
    01:12:00 Delving into the challenges faced by companies when customers misuse their power.







     





     

    • 1 hr 22 min
    Super-money: Why everyone wants to be everything in Finance

    Super-money: Why everyone wants to be everything in Finance

    The idea that finance companies want to do everything from payments to lending to broking to investments is strange - why not just be good at one thing?
    It’s a simple explanation, it turns out. Find out more about the business of money in a language you can easily understand, through the words of Deepak Shenoy and Shray Chandra. 
    Capitalmind manages Rs. 1700+ cr. as a SEBI-registered PMS, and has quantitative investing strategies that use extensively tested factor data to invest into stocks. Our flagship Adaptive Momentum strategy has outperformed the market indices over 5+ years.
    References: 
    00:00 Introduction
    00:17 Why does every company do everything in financial services?
    12:41 Why aren’t banks more aggressive in growing and pricing things lower?
    26:40 Discussion on the success of Bajaj Finance and arbitrage between Banks and NBFCs
    36:46 Why aren't banks aggressive on lending ? What's the issue with lending?
    56:49 Deepak explains the Indian Bankruptcy code
    01:07:13 What can we do to fix this?
     
    More about us: https://cm.social/pms
    Schedule a call with us: https://cm.social/pms-connect
     
    Deepak’s Twitter: @deepakshenoy
    Shray’s Twitter: @shraychandra
    Capitalmind Twitter: @capitalmind_in
    Deepak's first book: http://amzn.to/3CgkGea

    • 1 hr 18 min
    Why do financial markets have circuit limits?

    Why do financial markets have circuit limits?

    Ever wondered why circuits are in place? 
    It all started on Black Monday in 1987, where a 25% market correction prompted the introduction of market-wide circuit breakers in the US. These limits aimed to ensure market maker solvency and prevent panic-induced trading.
    Fast forward to 2001, and India also introduced circuits to handle intraday market volatility. From the Nifty's inception to the imposition of index-level circuit filters, the Indian market landscape has witnessed a steady evolution in its approach to market regulation.
    In this episode, we delve deeper into the concept of circuits, with real life stories and understand how they help the market. 
    We also discuss, should circuits continue to exist in their current form? or is it time to explore alternatives that foster greater transparency and resilience?

     
    Show Notes & References 
    00:00 Introduction and Disclaimer
    01:24 Background on limits or circuit breakers.
    06:38 When did India implement the circuit breaker?
    09:20 What are the current rules for circuits in India?
    15:58 Why are circuits interesting in the first place?
    19:07 What would happen if circuits weren’t there?
    24:38 Some interesting stories on circuits in the stock market
    36:34 What is a better way to manage circuits?
    40:47 Will circuits continue to exit?

    • 42 min

Customer Reviews

4.8 out of 5
93 Ratings

93 Ratings

True-trance ,

Insightful Conversation

Deepak,

I liked your podcasts. They are very insightful. They are detailed, with lot of side notes. From that perspective, they are really good. However, the downside is they are of long duration. After 20-30 minutes, I lose track and have to relisten to where I left off. My suggestion would be, to make your podcasts, snackable. Consume in small chunks, just like snacks.
Ex. I was listening to your recent podcast: "All is forgiven in the financial markets". It was close to 82 minutes. I can be broken up in small chunks like, forgiveness, AT1 Instruments, Fund Managers Pros and Cons etc.
Overall, I enjoy your conversation. Keep up the good work.

Dubsie77 ,

Very Informative

Thank you Deepak and team for pricing a deep and informative perspective on varied topics that directly impact us.

rjarorqaaa ,

One star less due to Shray

The podcast is really good. But I am deducting 1 star due to Shray's frequent and annoying interruptions before Deepak even completes his sentence.

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