12 episodes

This is brought to you by Multipie.co. Here we will be interviewing professionals from financial markets who will talk about long term investing habits and we will try and break some stereotypes

Breaking Investment Stereotypes with Rajkumar Singhal Rajkumar Singhal

    • Business

This is brought to you by Multipie.co. Here we will be interviewing professionals from financial markets who will talk about long term investing habits and we will try and break some stereotypes

    Vishal Khandelwal - Founder of SafalNiveshak.com

    Vishal Khandelwal - Founder of SafalNiveshak.com

    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 - Vishal’s journey with Safal Niveshak

    8:45 - The story behind “The One Percent Show”

    11:19 - What made Vishal write “The Sketchbook of Wisdom”

    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 “Robinhood generation of investors”

    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 - Vishal’s lessons from his podcasts

    50:40 - Strategically copying investment styles

    51:37 - Who has impacted Vishal’s 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 - Vishal’s advice to a 20 year old today

    1:12:40 - Advice to a young parent

    1:13:48 - Vishal’s views on Crypto



    Books referenced


    Poor Charlie’s 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

    • 1 hr 17 min
    Raunak Onkar - Co-Fund Manager & the Research Head at PPFAS Mutual Fund

    Raunak Onkar - Co-Fund Manager & the Research Head at PPFAS Mutual Fund

    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 - Raunak’s Journey with PPFAS

    3:30 - PPFAS’s 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 “modern monopolies” and “moats”

    18:25 - Navigating through the information overload

    24:43 - Raunak’s 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 - Raunak’s outlook for Indian markets

    40:44 - PPFAS’s notification on increasing exposure to smallcaps

    41:38 - PPFAS’s 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 - Raunak’s advice to his 20yr old self

    References

    Thinking fast & slow

    On 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 Newport

    Calling B******t - the book

    Calling B******t - the course (also available on Youtube)
    Investment Checklist by Michael Shern - The Book
    Mathew Walker - Why we sleep - The Book

    • 1 hr 2 min
    Nimesh Shah, MD and CEO of ICICI Prudential AMC

    Nimesh Shah, MD and CEO of ICICI Prudential AMC

    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 Nimesh’s leadership, IPAMC has transformed into India's premier investment manager aligned to investor interest and leveraged digital innovations to improve its customer’s 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 investors’s 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 “retired school teacher of Guwahati”

    28:00 - How to choose funds & trusting “big brands”

    34:03 - ICICI Prudential’s 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 - Nimesh’s 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

    • 57 min
    Saurabh Mukherjea - Founder and CIO of Marcellus Investment Managers

    Saurabh Mukherjea - Founder and CIO of Marcellus Investment Managers

    My guest for today is one of India’s 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 SEBI’s invitation, he joined SEBI’s 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 – Gurus of Chaos (2014), The Unusual Billionaires (2016), “Coffee Can Investing:  (2018) and ‘The Victory Project: Six Steps to Peak Potential’.

    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 - Saurabh’s “Coffee can” 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 - Saurabh’s view on Indian Real Estate as an Investment

    35:20 - Saurabh’s 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 - Saurabh’s take on “Breaking Investment Stereotypes”

    1:00:38 - Saurabh’s advice on writing and journaling along with some book recommendations

    1:06:10 - Advice to 20 year old self

    • 1 hr 8 min
    Lakshmi Iyer, President and CIO (Debt) & Head Products - Kotak Mahindra Asset Management

    Lakshmi Iyer, President and CIO (Debt) & Head Products - Kotak Mahindra Asset Management

    My guest for today is Lakshmi Iyer. Lakshmi is currently President and Chief Investment Officer (Debt) & Head Products for Kotak Mahindra Asset Management Company (KMAMC). She has been with the organisation since the last 20 years.

    Joining KMAMC in 1999 as a fund manager, Lakshmi was responsible for credit research, deal execution, managing fund performance across all debt funds and assisting sales in client interaction. In addition to that, she has been a portfolio specialist, and managed product related initiatives such as product pricing and coordination with the funds management and sales team in that role.

    Prior to joining Kotak, Lakshmi worked with Credence Analytics Pvt Ltd, as a research analyst where she was tracking corporate bond markets in India and generating research reports. She was also instrumental in conceiving various financial software tools in collaboration with software and technical teams.

    Lakshmi holds an MBA degree in finance from Narsee Monjee Institute of Management Studies.

    She loves exploring new places for travelling, is a big food lover, and is an ardent movie buff. She has a popular twitter handle @lakshmi1876



    Show notes:

    0:50 – Introduction about Lakshmi

    1:53 – Many firsts and unique aspects about this podcast

    2:52 – Lakshmi’s personal and professional journey

    5:05 – State of Fixed Income securities in India

    7:46 – Comparison of Indian versus US Fixed Income market

    8:41 – How to look at Debt Mutual Funds from portfolio asset allocation perspective

    11:30 – Financial advisor zaroori hota hai

    13:49 – Lakshmi’s views on current global factors - inflation, rates and RBI actions

    19:32 – How to position portfolio given global cues

    21:05 – Types of risks in Bond markets and how to think about Duration and Credit

    24:30 – How Kotak AMC navigated the Franklin Templeton situation

    28:12 – Lakshmi’s thoughts on “risk hai to ishq hai”

    31:07 – Thoughts on Credit Risk Funds in India

    33:22 – Investing in Global debt funds

    36:48 – Active versus Passive managed funds

    39:44 – How Lakshmi manages her personal finances

    42:39 – How Lakshmi chooses her ‘Pic(k) of the day’ on Twitter (Twitter: @Lakshmi1876)

    44:10 – Lakshmi’s reading habits and recommendations

    47:07 – Raj and Lakshmi’s Bollywood aspirations :D


    50:09 – Lakshmi’s life and investing idols

    52:00 – Advice to 20 year old self



    Book Recommendations



    1. Life over Two Beers and other stories by Sanjeev Sanyal

    2. Where the Crawdads Sing by Delia Owens

    • 54 min
    Alok Jain, Founder of weekendinvesting.com and SEBI registered Investment adviser

    Alok Jain, Founder of weekendinvesting.com and SEBI registered Investment adviser

    My guest for today is Alok Jain. Alok Jain is a New Delhi based SEBI registered Investment Advisor and founder of a momentum investing service weekendinvesting.com

    Alok is an Engineer from the Indian Institute of Technology Delhi and a MBA finance from the University of Maryland. He returned to India to start his journey in the markets by setting up one of the first National Stock Exchange memberships in New Delhi in 1996.

    In the next two decades, Alok developed a keen sense for systematic rule based investing systems and technical trading. He is a keen observer of the psychology and behavioral aspects of the market and wanted to quantify and incorporate them in his investing. Alok had been running several of his products on his own funds since many years and over time he was convinced that others could make use of the same products as well and thus launched his advisory weekendinvesting.com.

    Weekendinvesting.com is a Do-it-Yourself (DIY) advisory where Alok provides simple momentum based investing models. The unique part about his strategies is the low time-spent: returns ratio where the user spends up to 15 minutes a week to attend to their portfolios and the returns have so far have been beating the benchmarks by a wide margin.

    Alok was recently featured in the news media for his advisory. https://tinyurl.com/ycy9vph8.

    He also runs a hyperactive twitter feed at @Weekendinvestng to share his trading thoughts with a large twitter group.

    This episode is brought to you by multipie.co where we believe Investing is an ignored life skill and it's time to change it. 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

    2:30 Alok’s personal and professional journey

    8:02: Story behind weekend investing

    9:43: Alok Jain’s investing strategy and his story with smallcase

    18:24: Drawdowns and trading strategy during covid-19

    23:47: How to identify which style of trading to practice

    27:27: Exit principle to follow for stocks

    32:51: Human psychology during investing

    37:10: An investing stereotype Alok broke

    42:02: Alok’s investing idols

    44:10: Alok's life apart from trading

    48:16: Alok’s views on journaling thoughts

    53:53 Advice to 20 year old self

    • 55 min

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