Podcasts about capitalmind

In this episode we fill you in on three standout stories from the past week. First, why the fight between every Indian's favourite namkeen brands Haldiram's and Bikaji just got spicier; second, the controversy around Urban company's newest pet project;and finally, the latest from Two by Two where our colleagues Rohin and Praveen discuss what the fourth wave of tech exports from India will look like.Check out the stories and podcasts mentioned in this episode: The latest edition of Long and ShortWhy India's biggest employer of women gig workers refuses to listen to its own workforceTwo by Two: Ultrahuman and Kuku FM have broken outThe Ken is hosting its first live subscriber event! Join two long-term and contrarian CEOs, Nithin Kamath of Zerodha and Deepak Shenoy of Capitalmind, as they discuss the mental models, decision making frameworks, and potential outcomes related to a very real possibility: an extended stock market winter that lasts 24 months or more. Click here to buy your tickets. 

Deepak Shenoy is founder and CEO of Capital Mind, a pioneering financial analytics and investment research firm. Deepak and I talk about his first startup, the early days of building CapitalMind, being rejected by VCs (heck ! this is just a blog!!!!) to building a solid business…and lessons learned scaling CapitalMind. building capitalmind from a blog to leading financial research company Deepak's early days of running tech startups and lessons learned Deepak Shenoy's relationship with money His take on the power of compounding His advice to new investors ------------- Contact us for feedback / speaker suggestions / exploring partnerships using this form: https://forms.gle/Q6hZdXaYfeiQqR2x8 This show is brought in partnership with VidRow team.

In this episode of the Capitalmind podcast, Deepak and Shray dive into SEBI's recent report analyzing the profits and losses of F&O traders. The report reveals a staggering statistic, showing that over 90% of individual traders have lost money in F&O trading in the past few years. They explore the reasons behind these losses, the demographic impacts, and whether F&O trading is more akin to gambling than investment. They also discuss SEBI's new rules aimed at curbing losses and what these changes mean for both novice and seasoned traders. Tune in to understand the full implications of SEBI's analysis and what it means for the future of F&O trading in India. 00:00 Introduction  00:42 SEBI's Report on F&O Traders 01:41 Deep Dive into SEBI's Findings 02:32 Analyzing the Losses 06:00 Demographics of Losing Traders 07:57 Potential Misinterpretations of Data 18:06 The Appeal of F&O Trading 29:30 Speculation vs. Investment 30:39 The Role of Speculators in the Market 40:44 Comparing Trading to Performance Sports 43:11 The Discipline of Trading 43:42 Challenges of Undercapitalization 44:28 Intrinsic Value of Activities 45:10 Learning from Trading 49:08 Capital Requirements and Market Dynamics 52:18 Sophistication and Risk Management 57:20 Regulatory Impact and Market Participation 01:15:25 The Role of Speculation and Regulation 01:20:38 SEBI's New Rules and Their Impact 01:25:35 Conclusion and Final Thoughts

SEBI's new curbs on the high-stakes world of Futures and Options trading mean tighter restrictions for retail traders, such as reduced weekly expiries and increased contract sizes. The game is about to change. Host Himani Kothari talks to Deepak Shenoy, Founder of Capitalmind, and Sudhakara Reddy, Associate Professor of Finance and Control at IIM-Calcutta, to break down why Sebi has implemented these steps, the alarming rise in retail participation, and the staggering losses traders have incurred. You can follow your debutant host Hemani Kothari on his social media: Twitter and LinkedinET Podcasts now has a new show. 7@7 is your quick, sharp sub 5 minute daily roundup of financial news from India and the world. Tune in to Apple Podcasts, Spotify, Amazon Prime Music, Jio Saavn, Youtube or wherever you get your podcasts from! Check out other interesting episodes from the host like: Trains to Turbines: How India is Harnessing Hydrogen, Is Bajaj Housing's High Valuation Sustainable?, Corner Office Conversation with Antonoaldo Neves, CEO, Etihad Aviation Group, Has ONDC Managed To Take On Amazon And Flipkart?, and more! Catch the latest episode of ‘The Morning Brief' on ET Play, The Economic Times Online, Spotify, Apple Podcasts,JioSaavn, Amazon Music and Youtube.See omnystudio.com/listener for privacy information.

We have unlocked the full and unedited subscriber version of episode four which we released on August 15 for Premium subscribers of The Ken and on Apple Podcasts. Now you can stream it wherever you listen to your podcasts for free for a few weeks.The Swiggy of 2024 is a shadow of its former self. Boxed in by younger, nimbler and hungrier competitors from all sides, it has been defending itself for so long that it seems to have forgotten how to play offense. It wasn't always like this. Swiggy used to define innovation, product chops and “Bengaluru cool”. In many ways it pioneered food delivery in 2014 after pivoting from a courier service.Zomato, originally a restaurant discovery company, got into food delivery a year after Swiggy. It may have started as a late follower, but today Zomato's market share in the food delivery space is estimated at 56-57% by Goldman Sachs, with Swiggy in second place.Then there's quick commerce. In 2020 Swiggy was the first to launch a quick commerce grocery business, which we now know as Instamart. Zomato meanwhile bought Blinkit and rapidly integrated and scaled it across India. Once again, it would go on to beat Swiggy in market share. Blinkit is estimated to have a 46% market share, followed by Swiggy at number 2. Underpinning all of Swiggy's business were its apps and products, long considered the gold standard of user experience and design. They were slick, intuitive, fast, and fun.But Swiggy's apps today are a haphazard and constantly changing collection of sub-products, menu items, offers and distinct sections.How did it come to this?This week on Two by Two, hosts Rohin Dharmakumar and Praveen Gopal Krishnan discuss Swiggy with Arnav Gupta, the Director of Engineering at Jio Cinema, and Deepak Shenoy – the co-founder and CEO of Capitalmind*.Arnav, who used to lead product and engineering for Zomato's consumer apps, explains how product and teams work within a food delivery company. Deepak runs a company handling 2000 crores worth of investments and is a great expert on how the public markets work. He breaks down exactly what the market wants and needs from Swiggy, and what it needs to do to succeed once it goes public.Additional Reading:Swiggy is at the mercy of Zomato for its IPOSwiggy and Timidity 1,500 stories about India's complex relationships with Swiggy Instamart, Blinkit, Zepto, and Bigbasket*Both Rohin and Praveen are investors with Capitalmind.This episode of Two by Two was produced by Anushka Mukherjee. Hari Krishna is our lead writer and researcher and our resident sound engineer Rajiv C N is our audio producer.What did you think of the episode? Write to us at twobytwo@the-ken.com with your opinions and suggestions.

(You're listening to the 30-min version of Episode 5, Two by Two. Our full conversation can be accessed by premium subscribers on The Ken's iOS and android app. But if you're not a subscriber, you can now listen to our full episode, 30 days before anyone else, on Apple Podcasts with a monthly subscription!)The Swiggy of 2024 is a shadow of its former self. Boxed in by younger, nimbler and hungrier competitors from all sides, it has been defending itself for so long that it seems to have forgotten how to play offense. It wasn't always like this. Swiggy used to define innovation, product chops and “Bengaluru cool”. In many ways it pioneered food delivery in 2014 after pivoting from a courier service. Zomato, originally a restaurant discovery company, got into food delivery a year after Swiggy. It may have started as a late follower, but today Zomato's market share in the food delivery space is estimated at 56-57% by Goldman Sachs, with Swiggy in second place. Then there's quick commerce. In 2020 Swiggy was the first to launch a quick commerce grocery business, which we now know as Instamart. Zomato meanwhile bought Blinkit and rapidly integrated and scaled it across India. Once again, it would go on to beat Swiggy in market share. Blinkit is estimated to have a 46% market share, followed by Swiggy at number 2. Underpinning all of Swiggy's business were its apps and products, long considered the gold standard of user experience and design. They were slick, intuitive, fast, and fun. But Swiggy's apps today are a haphazard and constantly changing collection of sub-products, menu items, offers and distinct sections. How did it come to this?This week on Two by Two, hosts Rohin Dharmakumar and Praveen Gopal Krishnan discuss Swiggy with Arnav Gupta, the Director of Engineering at Jio Cinema, and Deepak Shenoy – the co-founder and CEO of Capitalmind*. Arnav, who used to lead product and engineering for Zomato's consumer apps, explains how product and teams work within a food delivery company. Deepak runs a company handling 2000 crores worth of investments and is a great expert on how the public markets work. He breaks down exactly what the market wants and needs from Swiggy, and what it needs to do to succeed once it goes public.Additional Reading:Swiggy is at the mercy of Zomato for its IPOSwiggy and Timidity 1,500 stories about India's complex relationships with Swiggy Instamart, Blinkit, Zepto, and Bigbasket* Both Rohin and Praveen are minor investors with Capitalmind.---P.S. We're hiring! Our podcast team is looking for an audio journalist and a podcast producer. Apply here.---This episode of Two by Two was produced by Anushka Mukherjee. Hari Krishna is our lead writer and researcher and our resident sound engineer Rajiv C N is our audio producer.What did you think of the episode? Write to us at twobytwo@the-ken.com with your opinions and suggestions.

On Episode 356 of The Core Report, financial journalist Govindraj Ethiraj talks to Deepak Shenoy, Founder of Capitalmind, a Sebi registered portfolio manager as well as Abid Hassan, CEO of Sensibull.SHOW NOTES(00:00) The Take: Jobs and Youth(03:14) The Markets Crack 2,223 points and could fall further(04:57) Japanese stocks sees highest fall since 1987.(06:06) Oil prices slide and so does gold.(07:33) Will Indian markets follow global cues all the way down or delink?(27:34) Indigo finally launches business classListeners! We await your feedback....To collaborate with our Core Brand Studio contact shiva@thecore.inFor more of our coverage check out thecore.inJoin and Interact anonymously on our whatsapp channelSubscribe to our NewsletterFollow us on:Twitter | Instagram | Facebook | Linkedin | Youtube

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.  

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?

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?

Reichlich Targets und gesunkene Kaufpreise: Die aktuelle Marktlage bietet Mutigen keine schlechten Voraussetzungen für Buy-and-Build-Strategien – selbst für besonders ambitionierte. Aber die sollten strategischer geplant, durchgerechnet und finanziert werden als bislang üblich, meinen unsere beiden Podcast-Gäste. Ambitionierte Pläne und hochkomplexe Deal-Strategien: In dieser Folge spielen wir mehrdimensionales Schach mit M&A-Bezug – mit konkreten Tipps, was es braucht, um auf diesem Level Buy and Build zu machen.

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.    

What is momentum investing? Join is interesting conversation with Mint's Anil Poste and Anoop Vijaykumar, Fund Manager and Head of Research at Capitalmind. Anoop shares insights into what sets momentum investing apart, the key factors in identifying momentum stocks, and how to manage risk in this strategy. He also discusses successful momentum investing stories. Whether you want build your own momentum portfolio or looking for products that follows momentum strategy., this conversation offers valuable insights and practical advice for investors.

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

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?

This week's episode is an assortment of INSIGHTFUL INFORMATION about stocks in the banking sector, PayTM vs RBI & Rakesh Jhunjhunwala's strategies to becoming generationally wealthy as we welcome once again Deepak Shenoy, founder of CapitalMind, to the Neon Show!What Happened To PayTM?What Is The State of Banking Stocks & Sector in India!Is PM Modi Right About PSU Stocks?Are Startups Going IPO A Good Trend?All these juicy topics and more in this DETAILED conversation. A dive into the psyche of the man who manages over Rs. 1700 crore in the Indian markets… One of the rare times where the conversation never stops being informative & gripping. Tune in NOW!_________________________________________________________________Siddhartha Ahluwalia, Founder, Neon Fund & Host, The Neon ShowTwitter: https://twitter.com/siddharthaa7LinkedIn: https://www.linkedin.com/in/siddharthaahluwalia/Instagram: https://www.instagram.com/siddhartha_a/__________________________________________________________________*Sponsor Shout Out*Looking to build a differentiated tech startup with a 10X better solution? Prime is the high-conviction, high-support investor you need. With its fourth fund of $120M, Prime actively works with star teams to accelerate building great companies.To know more, visit https://primevp.in/!___________________________________________________________________CHAPTERS00:00 - Precap01:34 - Welcome Back Deepak Shenoy, CEO of CapitalMind!01:52 - What Happened To PayTM? Fintechs vs RBI11:21 - State of Banking Stocks & Sector in India!28:07 - Should You Buy A Banking Stock?34:23 - Is RBI Mis Selling Information?39:07 - Why Are Public Sector Banks Doing So Well?40:10 - Indian Banks' Bad Lending History!45:07 - ArcelorMittal DRAMA Decoded!52:20 - What Was The Problem With Yes Bank?58:13 - Is PM Modi Right About PSU Stocks?1:08:00 - Is The Indian Stock Market Currently Overvalued?1:11:41 - Are Micro Cap Companies The Best Bet Right Now?1:15:57 - Are Startups Going IPO A Good Trend?1:31:03 - Are Jio Financials A Good Stock To Invest in?1:33:06 - Top 3 Active Stocks In India!1:39:57 - “The Market Goes Up When You Sleep!”1:41:11 - Should Financial Advisors Be Held Accountable?1:48:51 - Is Buying Large Caps The Safe Option?1:50:18 - Rakesh Jhunjhunwala's Strategies1:55:52

In today's episode, we delve deep into the recent actions taken by the Reserve Bank of India (RBI) towards the end of 2023 and the ensuing ripple effects they've set off. The RBI, often the silent architect of our financial landscape, has made strategic manoeuvres that reshape the terrain for banks, non-banking financial companies (NBFCs), and borrowers. Discover how these regulatory shifts could impact financial decisions and the broader economic landscape. From the nuances of risk weights to the implications for personal loan growth, this episode promises to demystify the complex world of financial regulations in a digestible and engaging format. Here is a quick overview of what we talk about: We unpack the RBI's directives regarding risk weights and the restrictions placed on simultaneous lending and investing activities by financial institutions. Dive into how startups offering digital lending products, like CRED and Paytm, are affected and the challenges they face under the new regulations. Explore why your credit card limits might be scrutinised and how conflict of interest rules reshape lending dynamics. Understand why the RBI's focus on Alternative Investment Funds (AIFs) matters and how it impacts investors' portfolios. Debate whether these measures reflect a proportionate response from the RBI and what they suggest about the current state of our economy. Timestamps 00:00 Introduction and Disclaimer 01:34 Deepak demystifies the two new regulations by RBI on Banks and NBFC 05:37 What's the impact of these new regulations? Why should we care? 16:05 Why is RBI more concerned about personal loans? 24:54 Why aren't you positive about the RBI action here? What's wrong with the slowing loan growth? 32:20 If Startups are ready to take the risk, why is RBI stopping them? 45:14 Even after this bull run, why isn't there lending against securities? 52:11 RBI has a new rule prohibiting Banks and NBFCs from evergreening loans through AIFs. 01:03:51 Is this a warning, a sign that the economy is over-heating?

Join us on Capitalmind Podcast, where we demystify the world of finance without the jargon. In today's episode, talk about the asset management industry in India and what's in store for the future. Now get this - Mutual Funds own only 8% of Indian companies, while retail investors own 9%. Let's rewind. In 2005, despite impressive returns, MFs didn't gain much attention due to high fees and the lack of tax advantages. Fast forward to 2018, capital gains and dividend tax changes sparked a surge in MF investments, increasing their ownership to 8%. Explore the shift in India's financial landscape – changing disposable incomes and tax adjustments have made MFs more attractive. The “MF Sahi Hai” mantra and the success of Systematic Investment Plans (SIPs) further contribute to their rise. Regulatory improvements play a role, but we also discuss other investment vehicles – MFs, Portfolio Management Services (PMS), Alternative Investment Funds (AIFs), and more. Understand the evolving dynamics and where your money might fit best. We dive into comparing investment vehicles and their equivalents in the US. Spoiler alert: India's investment culture is rising, embracing the expertise needed to manage money with relatively low costs and instant liquidity. Is passive investing becoming the norm? Not quite yet. We need more institutional capital for that shift. We end the episode trying to connect the dots and see what the future of this industry may look like. References 00:00 Introduction and Disclaimer 01:15 How is the money divided among different vehicles in the asset management industry? 06:36 Why do Mutual Funds have a lower ownership in Indian companies (8%) compared to retail investors who own 9%? 20:21 What are the downsides of investing in Gold and Real Estate? 27:40 Are we just one crash away from everyone turning away from equity? 34:38 Given that we have a savings culture, will investing grow faster in the future? 40:42 Which type of investment is good for whom? 44:53 Mutual Fund Vs Direct Stock Investing: How are things different in India and the US? 01:02:46 The future of the Asset Management industry in India.

The regulatory dance around AIFs just got a double spin with both the RBI and SEBI making moves. The RBI has stated that Banks and NBFCs can't invest in AIFs funding borrowers they already have loans to. While SEBI has mandated all fresh AIF investments after September 2024 to be dematerialized. Even as it is a big step against the evergreening of loans, it could also affect ₹20,000-40,000 crore of AUM if lenders have to unwind their investments. Is this an impractical solution to a genuine problem? Host Anupriya Nair gets you details from Deepak Shenoy, Founder and CEO - Capitalmind, and ET's Sugata Ghosh and Shilpy Sinha. Tune in to the latest episode of The Morning Brief podcast! Credits: Reserve Bank of India Do check out the latest article by Sugata Ghosh: ET analysis: Is evergreening of loans evergreen? If you like this episode from Anupriya Nair, check out her other interesting episodes on Outlook 2024 with JPMorgan: Will Cuts be the Catalysts for Macros and Markets? India's Surge In Satta: How cheap options can turn very costly, Digital Payments: Making Lives Easy or A Fraudster's Paradise? And much more! You can follow our host, Anupriya Nair on her social media: Twitter & LinkedIn. Catch the latest episode of ‘The Morning Brief' on ET Play, The Economic Times Online, Spotify, Apple Podcasts, JioSaavn, Amazon Music and Google Podcasts.See omnystudio.com/listener for privacy information.

Welcome back to the Capitalmind Podcast – a place where we dissect the nuances of finance and investing, in a world that never stops changing. Your hosts, Deepak & Shray, are here to de-clutter yet another topic in their lucid and candid style. In today's episode, we're zooming in on Portfolio Management Services (PMSes), a vehicle for your long-term wealth management. Here's a glimpse of what's on our financial canvas today: PMS Demystified: We're going to peel back the layers on Portfolio Management Services – both the legalese and the real-world implications – to answer the quintessential question: "Does it make sense for you to invest?" The Art of Timing: We'll delve into the art and science of choosing the right time horizon for your investments and why it's the secret sauce behind successful wealth building. The 50 Lakh Question: At point of your investment journey should you consider investing in a PMS? What's the PMS magic?: What can it do that traditional investment avenues can't? Specifically, does it offer any edge against Mutual Funds? (Spoiler alert: It does) The Ideal PMS Investor: We'll introduce you to different archetypes of investors who stand to gain the most from embracing PMS offerings from our experience of managing 1200+ crores.   Time Stamps: 00:00 Introduction and Disclaimer 01:30 What is a Portfolio Management Service and what's it good for or what's the point? 05:05 Who should invest in a PMS? And what should be the tenure of your investment? 08:53 Where to invest for short term needs? 13:27 The issues with investing in a mutual fund. 27:53 What does a PMS offer? What are the benefits of a PMS? 36:23 Once you cross a 50 Lakh mark, should you move from MFs to PMS? 42:36 What can a PMS do differently? 46:51 What about the returns of PMS and is it worth it vs Nifty? 52:15 Who shouldn't invest in a PMS? 58:27 Who should invest in a PMS? If what you hear today intrigues you, head over to Capitalmind Wealth to explore how our PMS services might align seamlessly with your financial aspirations. Our fee structure, ranging from 0.25% to 1%, keeps it straightforward, with no hidden performance fees. Schedule a call Alternatively, shoot us an email at connect@capitalmindwealth.com, and we'll be more than happy to provide you with additional insights about our PMS offerings.

Put your thinking caps on because this week's episode is an assortment of INSIGHTFUL INFORMATION about stock markets, trading & entrepreneurship as we welcome Deepak Shenoy, founder of CapitalMind, to the Neon Show!Which Company Transformed India's Trading Market?Indian Stock Market vs Global Stock MarketsAre Financial Influencers Fooling Their Followers?Would Global Companies Ever List In India?All these juicy topics and more in this EXTENSIVE conversation. A dive into the psyche of the man who manages over Rs. 500 crore in the Indian markets… One of the rare times where the conversation never stops being informative & gripping. Tune in NOW!*Sponsor Shout Out*Looking to build a differentiated tech startup with a 10X better solution? Prime is the high conviction, high support investor you need. With its fourth fund of $120M, Prime actively works with star teams to accelerate building great companies.To know more, visit Prime Venture Partners!

Our latest podcast episode is here, and it's all about exploring the different ways investors make money in the market. From thrilling arbitrage strategies to the art of short-term trading, we'll cover it all in a language that even your neighbour's fish could understand (well, almost!). But that's not all—our experts will take you on a journey through long-term fundamental investing and quantitative approaches too. Expect some fascinating stories, like the infamous LTCM blow-up, and how best investors (& trades) made their fortunes. We'll also unravel the logic behind the elusive VC's hunt for 50x returns and how even "value stocks" need a dash of momentum. So, whether you're an investing enthusiast or just curious about the market's mysterious ways, you won't want to miss this one. References 00:38 What do you think about the new all-time high? How do you view different types of investing strategies in the market and how to make money from these strategies? 24:27 The problem with peoples expectations: When I say stock markets do 12%, people expect this to be linear. 27:00 Concept of Expectancy 33:29 Problem in arbitrage is competition, so you need to lever yourself up 38:21 Option volatility trading - sell options expiring in 2 days and make the decay 46:32 When VC wins they need to win huge 49:50 Nifty monthly returns - how do quant strategies do? 56:52 We have just hit all time high. Based on the past data, how long can this good time potentially last? Which one is your favourite investing strategy? Liked the episode? Just tweet to us at @capitalmind_in and let us know. That's all we need to keep going!

Welcome back to another episode of our podcast, where we dive deep into the world of finance and investment. In today's episode, we will be exploring the fascinating realm of mutual fund costs and SEBI's recent proposals to bring them down. As the saying goes, "The devil is in the details," and when it comes to investing, understanding the various expenses involved is crucial for making informed decisions. In this captivating episode, we will dissect SEBI's latest discussion paper on Mutual Fund TER (Total Expense Ratio), which shed light on the inner workings of mutual fund costs and the need for change. We'll embark on a journey led by our expert hosts, Deepak & Shray, who will unravel the complexities of the system and explore the potential implications of SEBI's proposals. Get ready to gain valuable insights and answers to burning questions. What is the Total Expense Ratio (TER) of a mutual fund, and what does it include and exclude? Why does SEBI propose changes in TER, and how will it affect mutual fund investors? How do large distributors exploit the system, and what measures can be taken to address this issue? Can tweaking TERs alone make the mutual fund industry 10x bigger, or are there other critical factors to consider? What innovative avenues could mutual funds explore to earn higher TER while providing value to investors? Tell us on twitter @capitalmind_in on how did you like this episode. Your feedback means the world to us! Show Notes & References 02:00 Thoughts on the recent discussion paper by SEBI on Mutual Fund TERs 10:30 SEBI is saying "You are making too much money", reduce fees 19:25 Largest India equity scheme is charging the maximum fees possible 31:30 Limited Purpose Trading membership for AMCs to trade directly on the exchange 43:00 Why should a big fund house have the ability to charge more on a new scheme? 48:00 Performance based AUM through sandbox 53:00 How do you make the mutual fund industry 10X bigger?

On today's episode, financial journalist Govindraj Ethiraj talks to Bank of Baroda Chief Economist Madan Sabnavis, as well as Deepak Shenoy, founder and CEO of portfolio management company CapitalMind.[00:41] Indian Inc is holding strong in revenues and profits, latest results show with Madan Sabnavis[09:30] Byju's takes another knock as it refuses to repay a loan with Deepak Shenoy[19:06] Hmm..Bajaj Finance says it will cut back on telemarketing callsFor more of our coverage check out thecore.in

"If it looks like a duck, swims like a duck, and quacks like a duck, then it probably is a duck", goes the saying. Arbitrage mutual funds are actually taxed as equity funds but they actually behave as debt funds. And this tax arbitrage of arbitrage funds is what the regulators may be looking to fix. In light of this, we have our latest episode of the Capitalmind Podcast, where we dive into the intriguing world of arbitrage mutual funds, also known as arb funds. In this shorter episode, our hosts, Deepak and Shray, explores the role these funds play in your investment portfolio and delves into the impact of recent changes in debt mutual fund taxation on arbitrage funds. Here's a sneak peek of what you can expect from this episode The Role of Arbitrage Funds: Discover the peculiar position these funds hold, being described as equity funds but offering debt-like returns.  Taxation Changes and Their Effects: Explore how the recent changes in the income tax code could potentially affect arbitrage funds. Deepak shares his insights on the first and second-order effects of these tax changes and highlights the potential short-term buying opportunities that may arise. Risk-Free and Low-Risk Investment Options: Understand the investment landscape going forward in the likely new tax environment. Discover what alternative options exist for risk-free or low-risk investments in light of these changes. Here are five key questions that will be answered in this episode What role do arbitrage funds play in your investment portfolio? How will recent changes in debt mutual fund taxation impact arbitrage funds? What are the first and second-order effects of tax changes on arb funds? What risk-free or low-risk investment options are available in the likely new tax environment? How significant is the presence of arbitrage funds in the stock market, and what does it mean for overall market volumes? Join us as we unravel the complexities of arbitrage mutual funds and gain a deeper understanding of their implications for your investment strategy. Show Notes & References 01:00 What do arbitrage funds (arb funds) do and where they fit in your investment portfolio? 08:30 Why didn't arb funds become the FD replacement? 12:30 How big are arbitrage funds and what does that mean as a percentage of total volumes/positions on the stock market? 18:45 Arbitrage Funds are a huge part of our market and it's a problem. Why? 21:30 First and Second order effects of taxing arb funds like debt 34:00 What are the advice or takeaways? If you have any feedback, ideas for future topics, or questions, we'd love to hear from you. Send us an email at podcast[at]capitalmind[dot]in. For those seeking professional wealth management services for portfolios exceeding 50 lakh, visit Capitalmind Wealth. 

"Taxation is the price we pay for civilisation," as the saying goes. But what happens when the price tag keeps going up? You may have thought you understood the friendly taxation system, until a new rule comes up that leaves you feeling like you've been sucker-punched. That's what recently happened when the government took away the tax efficiency of debt mutual funds and increased taxation. Suddenly, investors were left wondering how this would impact their investments and whether they needed to change their strategies. In this episode of our podcast, Deepak and Shray delve into the conversation around the new taxation rules for debt funds. They ask the tough questions that many investors are likely asking themselves such as: whether taxation should be a factor when investing in equities, what to do with existing debt funds, whether foreign investing is still exciting after all the taxes. But it's not all doom and gloom. They also explore other investment options such as MLDs, Gold, Real Estate, Startups, AIFs, and ETFs. Taxes are indeed taxing. But who knows, maybe someday Pink Floyd will come up with a new hit single titled "We don't need no TAXES." Until then, tune in to our podcast to stay informed and keep your investing game strong. Don't miss out on the show notes and references for this episode, where you'll find timestamps for each topic covered. So grab a drink, relax, and join us as we explore the fascinating and ever-changing world of investing and taxation. Show Notes & References Click here for the Google Sheet 8:50 Now all debt instruments are taxed similarly, isn't it now a fair system? 18:45 What should I do with my existing debt funds? 27:00 Should taxation be a factor while investing in equities? 33:00 In stocks, should you sell underperforming stocks and move to other stocks? 36:00 What about  MLDs, Gold & Real Estate. 53:00 How investments in startups are taxed? 56:00 What about AIFs and ETFs? 1:05:30 Is foreign investing still exciting after all the taxes? 1:09:00 Final thoughts

“A market without bears would be like a nation without a free press. There would be no one to criticize and restrain the false optimism that always leads to disaster” - Bernard Baruch Short selling is mostly misunderstood and often demonized. Quite understandable, it's difficult to put your head around a concept that involves selling something that you don't already own. But, it's not as sinister as it is made out to be. Markets have enough checks and balances to accommodate short sellers and maintain their balance. Recently, we saw Adani group stocks come under attack by a US-based short seller which resulted in the marketcap of the group falling more than 50% within a month. This sparked a discussion on the concept of short selling. We're not going to talk about the specifics of this short by Hindebug. Instead, in this episode, we will talk about the nuances of short selling, their impact on the market, and dive deeper into how the whole thing works. Join, Deepak & Shray, as they talk about: How does short selling work? Is short selling always to bring down a stock? The operational aspects of short selling in India and the US? Examples of different short trades & how they played out Which market players, except short sellers, also short stocks? Show Notes & References 1:10 What is short selling 5:15 Why people would do short selling? 11:30 Are HFTs also market makers? Or speculators? 13:30 Paul Tudor Jones and the 80s crash 19:30 How do Indians short a stock? 23:00 How do US traders generally short a stock? 33:00 NSEL fiasco 42:00 Do arbitrage mutual funds also short sells stocks? 45:00 How does a foreign fund short an Indian stock? 47:00 Should short selling be illegal? 49:00 Can a PMS (like us) go short and benefit from such trades? 54:30 The thing called "short squeeze" and stories from far & recent past

Things escalate and hit the fan very quickly in banking. It's fascinating to see how banks go belly-up for the same fundamental reasons but in an entirely unique way each time. It's like being served the same romantic comedy story again and again with different actors, locations, and songs. But, these banking crisis stories are not as enjoyable and they hurt real people financially and emotionally. In this episode, we discuss the crisis at Silicon Valley Bank. How this seemingly robust, conservative, bank with $180 billion in deposits tumbled down in just a couple of days. All was good with the Silicon Valley Bank until, one day, it wasn't. NO, there was no accounting scam. This isn't like Enron.  NO, there wasn't any irresponsible speculative betting. This isn't like Lehman.  This time it's a different story. But, with the same result.  Listen in as Deepak and Shray tell you everything you need to know about the Silicon Valley Bank crisis:  What actually happened?  What could SVB have done differently starting a year ago? Understand how rising interest rates affect the business of banking What is going to happen next? Lessons for the future If you enjoy Capitalmind Podcast, tweet to us @capitalmind_in and let us know. It doesn't take more than 2 minutes and is the fuel that keeps us going.

Anyone who thinks financial accounting is boring hasn't seen the creativity in some of the financial statements. Not just in India but across the world. In this podcast, Deepak and Shray discuss the shenanigans of financial accounting while referencing various case studies from the business world. This discussion is important because "new age" businesses in India have started reporting "adjusted" accounting statements along with standard reports. While we do understand the need for "adjusted" metrics to gauge the health of a business. Especially when the nature of business is unconventional and may not be represented well by the existing reporting system. But more often than not, such adjustments are used for misguiding investors.  Listen in to figure out:  Why do businesses need to report adjusted earnings? How cheques, affiliates, GMVs, and ESOPs are used for creative accounting?  If such reporting is legal, why should investors care? How do you recognize whether adjustments are real or not? Show notes and time stamps 1:50   - What's the big issue with showing adjusted revenues? 10:20 - Shenanigans of adjusting revenues go back to the days of AOL (1990s) 13:45 - Argument of using the contribution margin 23:00 - How do “adjusted” numbers mislead stakeholders? 27:30 - Examples of creatively using metrics to manipulate numbers? 52:40 - VCs & Investors want “adjusted” metrics to understand business performance 1:00:00 - How to recognize if adjustments are real or not?

Forecasting is a very difficult business, like selecting lottery tickets. No one could have predicted 2022 as a year in which there was geopolitical war, worldwide inflation, a massive hike in interest rates worldwide, and the US S&P 500 down about 20%, and yet, the Indian markets ended up 4%. If anyone got this spot on, they could still be terribly wrong for 2023. That's why we don't predict, we react. So, what's going to happen in 2023? We can almost hear this question, despite all the data that says prediction is a waste of time. But then, much about the markets is an entertainment business, which means it's great to see people make crazy zany predictions, and maybe some of them will win. So we'll participate mildly in what should purely be entertainment, even if at some point it appears to have deep investing insights. Show Notes and References 1:55 Where should we invest in 2023 and some random predictions 3:00 Four ways this decade will be different from the last one 8:30 Return of Volatility in the markets 14:00 The peril of high interest rates Podcast: Investing in a world with high interest rates 17:00 Return of inflation and higher yields 23:00 Putting Indian inflation in perspective 34:20 Geopolitical turmoil & the return of asset-heavy 39:40 ChatGPT, role of AI & Predicting how humans will react 47:00 Tactically where do I invest my money now? 51:00 Sectors that are positioned well for the current macroeconomic scenario 59:45 Will emerging markets outshine US markets? How did you like the podcast? – Tweet to use at @capitalmind_in  

In this conversation with Shray, Deepak shares why he feels now is the time for India's concept of a Retirement Account - he calls it the MERA account. This account should help improve investment opportunities for retail customers, create a longer-term investment horizon and push people to save for their retirements. Listen in as we discuss: The concept of a retirement account Impact on the economy and people Imagining a retirement account scheme that works for India The operational aspect of such an account Who would oppose such a thing? Show notes and references 2:00 - Seven consecutive years of positive market returns for India 4:00 Seize the opportunity of India story with retirement accounts  Read: My Empowered Retirement Account (MERA) 8:30 Where do LIC and EPFO invest retirement money  "We're giving asset managers our retirement money and asking them to do great things for the next 20 - 30 years... But, they're not doing great things... They are conservative.. not letting me realize my larger risk appetite." 14:30 ELSS equity funds hold money for a longer period of time. Can't they act as retirement funds? 17:00 The peril of investing for retirement with post-tax money  25:00 Deepak introduces his idea of MERA - My Empowered Retirement Account (MERA) 33:00 Why does this matter so much at the national policy level?  41:20 Who are the people who would feel this is not a good idea?

Of late, we have been discussing macro trends that affect the stock markets, the economy, and as an extension, the world. We have been zooming out to capture the big picture painted by investors, regulators, and the invisible hand of Mr. Market. In this episode, Deepak & Shray break from the trend and do something different. Rather than zooming out, we zoom in. We discuss two companies that are going through fascinating developments and make for an interesting discussion. LIC is a recently listed insurer that has a gigantic balance sheet and is a household name in our country of 1.4 billion. It operates in a market that is expanding wider as well as penetrating deeper. Yet, the company seems to be valued poorly by the markets. What's happening here? HDFC and HDFC Bank announced that they will merge at the start of this financial year. The merger is progressing rapidly, getting through from one regulatory approval to another, without much drama. But, this merger is causing drama at unrelated places that have nothing to do with the business or the merger (well, not directly at least). Will this merger make index funds do crazy rebalances? Listen In. Timestamps and highlights 2:00 - LIC has fallen 30% from its IPO. What's going on? 4:25 - Cultural shift to maximize shareholder value 5:00 - Participating and Non-Participating Policy “.. This quarter, LIC said, you know what we have 15000 crores of profit.. which we didn't know we can take.. it turns out that they can and they did.. ” 11:15 - 100% of the profit from the Non-Participating Pool should have come to shareholders 19:30 - What happens to LIC, due to its high equity holdings, what happens if markets don't do anything for the next 10 years? 25:30 - Why isn't the market not enthusiastic about LIC if this is such a fantastic opportunity to buy? 30:15 - HDFC merger and the opportunity with Index Constitution 41:30 - The worrying thing about Index funds

As we slowly settle into the post-pandemic era, one of the hallmarks of this period has been higher inflation than we have seen in the recent past. In response to rising inflation, central banks across the world have responded with a fierce interest rate hiking excursion. As a consequence, neither of the asset classes–stocks, or bonds, have performed well recently. It raises an essential question: how should we look at allocating our savings? That's precisely what Deepak and Shray are here to talk about, among intriguing followup questions one may have when it comes to Investing in a world with high interest rates, including which pockets to consider in financial and real assets. Listen in. Timestamps and highlights 01:30 — To an average investor, is debt coming back as a relevant asset class? “If you have multiple periods of high and low interest rates, you might actually get very good returns on certain corporate, or even government bonds.” “[…] It's coming to a point where debt might actually start to become an interesting investment, simply because interest rates across the world have gone up. This is not the time to look backward, but to look forward and say going forward, returns might actually be quite good from here.” 09:40 — Looking forward, how should one look at asset allocation? And, when is the right time to look at the debt markets? “You might actually want to position yourself at the outer end of the spectrum in government bonds when the RBI switches its stance. But, until then, I think it's a waste of time because you may see interest rates go up substantially. And we don't even know how long they'll go up.” “Debt is a very boring instrument. What happens in equity markets in ten days, happens in six months in the bond market. It happens slowly over time, it's excruciatingly painful, and people rejoice over 1% returns. […] But, I think the value in looking at a bond market as an equity-esque investment, only happens when interest rates start to come down.” 25:09 — Will high interest rates emanate an opportunity in gold? “It is not inflation that drives gold prices, it's the fear of inflation that drives it.” 26:49 — What about opportunities in equity markets? “If in a low interest rate environment, the biggest beneficiaries happen to be zero debt service companies, then from an intuitive perspective, the beneficiaries in a high interest rate environment are companies with very high levels of debt, but whose competitors need the same levels of debt, but can't acquire it because they don't have the same standing in debt markets.” 40:03 — Are there repercussions on the startup ecosystem? “The unfortunate problem of startups is that they come from the concept of needing capital to burn.” 50:05 — How long do interest rate regimes last? “We have had a very long period of very low rates. Can that mean that we will have a longer period of high rates? The answer will come from how much damage there will be to the economy before the central banks blink.” 52:10 — How would we know when there's a pivot? “Interest rate cycles don't change overnight, they take a long time. Watching an interest rate cycle change is like watching paint dry. Six to eight months, something will happen, and suddenly the cycle would have changed.” 57:30 — What makes Deepak optimistic about investing in the current landscape? “If you don't deploy in an uncertain world, when do you deploy?”

Portfolio Management Services (PMS), a service offered by the Portfolio Manager, is an investment portfolio in stocks, fixed income, debt, cash, structured products, and other individual securities, managed by a professional money manager that can potentially be tailored to meet specific investment objectives. In today's episode of The Brand Called You, Deepak Shenoy talks about portfolio management and investing. He also touches upon his experience working as a wealth manager and investment researcher. He also talks about his outlook on the Indian markets. --- Support this podcast: https://anchor.fm/tbcy/support

RBI released a discussion paper that said: We've let you good people live all this time with “free” payment systems, so should we allow banks to start charging now? Specifically for UPI, which has reached volumes of 10 lakh crore rupees per month? And should we charge merchants? Deepak's answer is a big NO. He firmly believes that the payments ecosystem (and the economy as a whole) will gain much more than any fees on UPI transactions will. As always, Deepak has a context to his argument and covers a wide range of nuances. Listen to this podcast to understand his view on different aspects of the UPI payments system, its evolution, and the ways in which it can drive innovation. Also, this podcast covers many different aspects than Deepak's earlier post on the same topic.  Show Quotes & Time stamps 02:00 - Deepak and Shray trade fascinating stories about payment systems before UPI. 07:00 - The interoperability of UPI is a game changer 10:30 - How much do we pay for other payment systems? “RBI spends 4,824 crores per year printing cash. None of that cost is borne by anybody except the government itself” 14:30 - The evolution of ATMs, Cheques, NEFT, RTGS, and the big role that RBI played in making these systems affordable for users. 21:30 - Has UPI always been free? Or has it also evolved over time to be free? “The government went to parliament and passed a resolution to make UPI free… That's the extent we went to keep this payment mechanism free” “1,00,000 Crore is now available to banks to make money by parking it RBI and earning interest…. This is because people want to keep money with banks to make UPI payments” 31:00 - How much does it actually cost to run the UPI payments system? “NPCI spends just ~680 crores per year maintaining the UPI infrastructure. Compare that against the float income that banks make on the additional 1 lac crore float” 34:00 - The argument that UPI is a toll road so you should charge for this "public infra" “Credit cards transact about 100k crore a month, debit cards 60k crore per month, ATM withdrawals are at 300k crore per month…. So even now, after all these years, credit + debit card transactions are not more than cash” 41:00 - If you don't let players charge for UPI, who will fund innovation? “Internet protocols were free and they disrupted the world through innovation” “Interestingly, in the payments ecosystem, all innovation has come from the regulator and not private players” 43:40 - Counter arguments from Deepak's Twitter on why UPI shouldn't be free. 44:00 - Google and PhonePe did all the handwork to make UPI popular. Now you're telling me I can't make money on it? “You're building a road and they tell you... you can never charge a toll. But you still keep building that road… that's the payment apps for you” 50:00 - Let's say that the biggest private players leave because you won't let them make a profit. The top 2 guys control ~75% of all transactions. What happens to the ecosystem now? 1:02:00 - Why regulators have enforced limits on incentives and fees? “Financial regulation is not like tech where if you're too big, rules change for you. Here, if you are too big, and you disturb the system, the regulator first makes you small and then beats you” 1:05:30 - Government responses to the UPI monetization paper were very harsh. Why so? “Hoarding cash is ok. Spending that cash on the economy creates a whole new economic system that's outside the view of the government. That's not ok” “From Jan 2020 to now, the total ATM withdrawals are flat. UPI has gone from 120k crore to 1000k crore. The fact that UPI transactions are free has reduced cash transactions” 1:09:30 - The number of UPI transactions has drastically increased. But, is that all? The UPI tech reached its full maturity? What do we have to look forward to wrt UPI? 1:14:00 - UPI as a credit check for lenders and a game-changer for quick small loans   There's a lot more interesting stuff ahead with UPI. We're just getting started!

Recently, as of 7th September 2022, total Demat accounts in India touched the 10 crore mark. This is a staggering increase from 40 crore Demat accounts in Mach 2020. This alone is a testimony of increased participation and inclusion of individuals in Indian markets. More and more Indians, especially youngsters, are taking to investing in equities enabled by their smartphones - digital broking, increased information access, and social media influence. The whole securities (stock) market ecosystem has evolved immensely over the past decade and deserves a lot of credit for the recent growth in the participation of new investors. At the helm of the ecosystem sits our regulators who are responsible to enable, guide, protect and watch the market participants to ensure that we have a fair and thriving market. In this episode, Deepak and Shray talk about the role SEBI can play in shaping the future of the markets. They talk about data warehousing, data accessibility, regulatory enhancements, bond markets, disclosures & reporting, and a lot more that would make our markets more accessible.  02:00 - As low as only 3% of household income is directed towards stock markets. Why are people so scared of investing in stocks? 04:00 - Game changers - Digital public goods in our financial system 09:00 - Data warehousing framework at RBI and its US counterpart 16:00 - Does an average investor even use the granular data that we're expecting the regulators to build for? 24:00 - What company data should a centralized database ideally have? 32:00 - The way Indian companies play with stock tickers 34:30 - How will this organized information make things better for all participants? 39:30 - Better information access makes our markets more accessible to FIIs 43:00 - Crazy things that mutual funds & companies do with disclosures 48:00 - PMS & AIF returns should be cross-verified and shouldn't be based on self disclosures “The more developed you are, the more signages you see on the road” 55:00 - SEBI is a far better regulator than many western counterparts. What do you still wish they should improve 59:00 - Would information disclosures will be a hassle for smallcase companies? 1:03:30 - AMFI - the Self Regulatory Organization (SRO) recognized by SEBI 1:11:00 - What can SEBI do less to make space for things you wish it should do? 1:15:00 - How much impact can SEBI have on increasing household participation in the markets?

Markets are slaves of earnings and liquidity. Liquidity has taken prominence after the coronavirus outbreak. At first, central banks across the world increased liquidity by cutting rates and helping their populace to live through the pandemic. Then the after effects of increasing liquidity hit – increased inflation. Now, the same banks are sucking out liquidity by increasing interest rates to counter inflation. The looming after effect of increasing rates is the “r” word that is too pious to speak loudly. In this podcast, Deepak & Shray discuss the two central banks that impact us the most – RBI and Fed (Federal Reserve System, USA). What makes this podcast interesting is that we are looking at everything from the lens of who does better – Fed or RBI? Refer to the show notes to see the wide range of things discussed and start listening. .  Show notes & references: 02:00 - Why RBI will buy dollars to keep the rupee from appreciating?! Refer: What the Fed's Big Balance Sheet Unwind Means for Markets 05:00 - What happens when RBI sells dollars? 07:00 - How does it control the liquidity of the markets? 14:00 - How have banks run out of liquidity? 17:30 - If banks need money, why don't they increase their FD rates? “Government is now a better bank than all banks. It's also safer” 19:30 - RBI has taken out liquidity, you want to protect the status quo now. How does RBI do it? What are the consequences? “RBI owns 3X more of US government bonds than it holds Indian government bonds. But things are changing.” 25:00 - But is the Fed doing now? 26:30 - The interplay of treasury and Fed in the US government monetary environment "RBI hates to buy government bonds because it knows the government is fiscally irresponsible. The US would buy their govt bonds knowing that their government is even more fiscally irresponsible." 28:30 - Mortgage backed securities and agency guaranteed debt. “Fed reduced their balance sheet by ~0.5% while RBI has already reduced the balance sheet by almost 10% in the same period” 35:00 - How increasing interest rates will impact different sectors & industries? 37:00 - If US interest rates go to 4% it will impact India and the world 38:15 - What makes India be in a bright spot as compared to the west? 43:30 - UPI is 10X the size of credit cards in terms of transactions. It's massive. 47:00 - We have screwed up much earlier and recovered. West is starting to experience the fruit of its irresponsible policies. “We might just be the single largest self dependent economy that's worth investing in right now. With a local market which we have mostly given away to foreign players.” 53:00 - Domestic investments in equities by Indian investors have absorbed the highest ever FII selling spree. 56:00 - Our neighboring nations are falling apart mostly due to foreign dept - isn't that a concern for us to open foreign investment? “If you don't have the freedom to fire people, you won't hire them at all. That's how human psychology works” 01:02:30 - Summarising Where India is right now in the economic scene “If we don't screw up, we will do really well. Because the world seems to have screwed up.”

On this episode of The Ideas Project, Anupam is joined by two guests - Swarup Mohanty, CEO at Mirae Assets, and Deepak Shenoy, CEO of Capitalmind. Both Mirae Assets and Capitalmind are companies involved in providing comprehensive financial services, making the guests the perfect people to talk to about today's topic 'The Ongoing Disruption in Savings' that we are currently seeing in the Indian markets today.What are some major trends in the savings industry currently? What aspects of it should you have your eye on to make informed investing decisions? Tune in for this and lots more.Check out the Capitalmind Momentum smallcase: https://www.smallcase.com/smallcase/capitalmind-momentum-CMMO_0001?utm_source=ivm&utm_medium=podcast&utm_campaign=disruptioninsavings Download the smallcase app here to start investing!PlayStore ( https://bit.ly/3uKFuc7 )AppStore ( https://apple.co/3ApbA0o )To know more about smallcase: ( https://www.smallcase.com/ )Facebook: ( https://www.facebook.com/smallcaseHQ )Twitter: ( https://twitter.com/smallcaseHQ )Instagram: ( https://www.instagram.com/smallcasehq/ )YouTube: ( https://www.youtube.com/c/smallcase )Linkedin:( https://www.linkedin.com/company/smallcase )You can follow Swarup Mohanty on social media:Linkedin: ( https://www.linkedin.com/in/arvind-kothari-b24a50123 )Twitter: ( https://twitter.com/arvind_kothari )Instagram: ( https://instagram.com/arvind_kothari )You can follow Deepak Shenoy on social media:Linkedin: ( https://www.linkedin.com/in/arvind-kothari-b24a50123 )Twitter: ( https://twitter.com/arvind_kothari )Instagram: ( https://instagram.com/arvind_kothari )Get in touch with the host Anupam Gupta on social media:Twitter: ( https://twitter.com/b50 )Instagram: ( https://www.instagram.com/b_50/ )Linkedin: ( https://www.linkedin.com/in/anupam9gupta )You can listen to this show and other awesome shows on the https://ivmpodcasts.com , the IVM Podcasts app on Android: https://ivm.today/android or iOS: https://ivm.today/ios, or any other podcast app.See omnystudio.com/listener for privacy information.

Crytocurrencies were all the rage in past few years on account of rising asset prices and volatility. Now, they are going through a bear market that has witnessed some popular currencies going totally bust. This pehnomemnon of an "asset class" going from hot to untouchable is not new. We've seen this again and again in different forms and proportions.  The current bear market in cryptos certainly impacts the investors, start-ups, promoters, and VCs who are directly involved in the crypto business. But, this bear market has second-order effects that may impact you as well. Listen in, as Deepak and Shray discuss the nuances of how the crpto bear market inpacts you.  Show notes & references: 01:40 -How does the crypto bear market have an impact on stock markets & economy? 08:30 - The indirect knockdown effects of crypto bear markets 10:00 - Digging deeper which other segments of the economy will face a slowdown due to crypto? 15:30 - The trickling effect of hot money going away from crypto startups 16:30 - Misunderstanding of risk by crypto investors 20:30 - The debacle of fancy virtual assets - Luna & Terra Refer: Terra's stablecoin UST collapses, LUNA falls 99% 24:50 - Learnings from Zee TV & Dish TV saga of taking loans from Mutual Funds via bonds Refer - Capitalmind post on Zee FMP Saga 34:00 - New investors moving to crypto with leverage and family savings basis TV marketing 39:00 - Why VCs don't let failed crypto companies die? - No, it's not for the right reasons. 48:00 - By Now Pay Later - bad small loans of small ticket size are a similar problem. 50:00 - Promotor fraud is now called Rug Pull. Refer - What is a rug pull?  51:30 - The case for printing more money 54:30 - The commingling problem that stock exchanges have already solved. Crypto exchanges still fight that problem. Refer: Deepak Shenoy tweets about these issues in Dec 2021 56:40 - Will Deepak one day invest in crypto someday in the future? 58:30 - One great thing that has come out of crypto markets If you loved listening to Deepak talk about money and finance. You'll also find his book quite interesting - You can buy the book here – Money Wise.

Mint asked Shankar Sharma; Nilesh Shah, group president and MD of Kotak Mahindra Mutual Fund; Deepak Shenoy, founder and CEO of Capitalmind; and Nikhil Kamath, Co-founder, Zerodha, whether this is a buyer's or a seller's market.

Mint caught up with Deepak Shenoy, Founder, Capitalmind, as part of our Guru Portfolio series to understand how he invests his own Money. Among many other facets of Deepak Shenoy's style, he does not invest in real estate, even to the extent of not owning a house. Tune in to know more!

Two engineers get together to discuss two life essentials - food and money! Our food expert is Krish Ashok. Ashok is Global Head, Digital Workplace at TCS. He is a techie, a musician and an author. He talks about the science behind food, the history of food and offers a lot of food for thought for us to explore further. If you are interested, a good starting point is his famous book - Masala Lab. Our money expert is Deepak Shenoy. Deepak talks about the importance of managing your finances, the myths about investing, the fallacies that investors should avoid, and his take on cryptocurrencies. It is quite a treat to listen when he shares food metaphors to explain financial concepts. So listen in! Topics & References: 02:00 - Science of Indian food & cooking Refer - The parable of turkey and how things are done13:30 - Do modern food habits cause lifestyle diseases? 21:45 - Wait, it's the opposite? Butter is ok but the Naan is not? 25:30 - Basics of food everyone should follow Refer: Michael Pollan: Three Simple Rules for Eating37:00 - The play of sugar & salt 40:00 - People hate changing food habits 45:00 - Each of us processes the same flavor differently 49:00 - We don't like something because its unfamiliar, not necessarily bad 52:00 - Misconceptions about Food Refer: Why the Tomato Was Feared in Europe for More Than 200 Years56:00 - The myths of Genetic Modification Refer - The Story of Norman Borlaug, the American Scientist Who Helped Engineer India's Green Revolution01:01:00 - How do we make more people cook? (especially, the men) Refer - Apple Cider Vinegar Rasam01:07:00 - Does the online food delivery phenomenon change things for food and our food habits? 01:11:00 - Switching roles - Ashok Asks Deepak about Money 01:13:00 - Building a relationship with money Refer: Book: The Lexus and the Olive Tree01:17:30 - What money can do for you? 01:23:00 - How an adult should learn the basics of Finance? Refer: Book: An Economist Gets Lunch01:43:00 - How should salaried professionals think about Income Tax? 01:50:00 - Working as an employee Vs working as a businesses 01:54:00 - Understanding Inflation first before learning about investment returns Refer: What you know about inflation might be wrong02:01:00 - How do you make money work for you? 02:09:00 - How to allocate between Equity & Fixed Income? 02:11:00 - Ways for your money to make more money? 02:16:00 - Importance of diversification in Finance & Food 02:19:00 - How should one think about their own risk appetite? Refer: Harry Markowitz and Modern Portfolio TheoryRefer: How Not to Be Wrong: The Power of Mathematical Thinking02:28:00 - Is there a tool that helps track personal financial growth? 02:37:00 - Deepak's thoughts on cryptocurrencies Refer: Blockchains Are a Bad Idea (James Mickens)Refer: Selling Shovels in the New Startup Gold Rush You can buy Krish Ashok's book on the science of Food - Masala lab. You can buy Deepak Shenoy's book on investing - Money Wise. Check out our wealth management service - Capitalmind Wealth (PMS)

Today's episode is a crossover with The Seen and the Unseen podcast, hosted by Amit Varma. Amit and Deepak discuss how their careers - as creators - have evolved with the digital age. And their journey of discovering their own authentic voices. They take a first hand look at the creator economy and how it's shaping the media today.  2:32:00 onwards, they discuss key lessons in Deepak's new book, Money Wise, along with some behind-the-book stories.

There is a lot to unpack about this new digital currency RBI is talking about. Deepak and Shray built up the discussion by pondering over successive questions. Deepak takes us through how cryptocurrencies currently work. This sets up the context to the current ways of handling digital currencies and we move on to discuss the RBI-backed digital currency - Central Bank Digital Currency (CBDC). Key Points  How CBDCs are not cryptocurrencies? And how are they different? Is CBDCs actually required or is it a response to the popularity of cryptocurrency? So basically, why now? Is the CBDC likely to be anonymous like cryptocurrencies? Can CBDCs be an alternative to the SWIFT system given how Russia has been isolated by the world right now? Impact of CBDC on Monetary and Fiscal policies?

As Indians, we discuss Inflation only during elections which makes it less of transient and more of seasonal! But, as investors, we discuss inflation a little more. The latest reason for it is the hammering of growth stocks across markets which is blamed squarely on inflation. In this podcast, we understand the practical concept of Inflation with examples, its impact on your investments, its impact on our daily lives, and how it impacts different people differently. We promise, thinking of inflation in this podcast will be much more interesting than what you experienced in your economics class.

‘ಮನಿ ವೈಸ್' ಪುಸ್ತಕದ ಲೇಖಕ ಮತ್ತು ಕ್ಯಾಪಿಟಲ್‌ಮೈಂಡ್‌ನ ಸಂಸ್ಥಾಪಕ ದೀಪಕ್ ಶೆಣೈ, ನಿರೂಪಕರಾದ ಸೂರ್ಯ ಮತ್ತು ಪವನ್ ಅವರೊಂದಿಗೆ ನಿಮ್ಮ ಆದಾಯ, ಉಳಿತಾಯ, ಹೂಡಿಕೆ ಮತ್ತು ಜೀವನದಲ್ಲಿನ ಅಗತ್ಯತೆಗಳು ಮತ್ತು ಗುರಿಗಳನ್ನು ಪೂರೈಸಲು ನಿಮ್ಮ ಸಂಪತ್ತನ್ನು ಹೇಗೆ ವ್ಯವಸ್ಥಿತವಾಗಿ ಯೋಚಿಸಬೇಕು ಎಂಬುದರ ಕುರಿತು ಮಾತನಾಡುತ್ತಾರೆ.Deepak Shenoy, the author of ‘Money Wise' and founder of Capitalmind, talks to hosts Surya and Pavan about how to think systematically about personal incomes, savings, investments, and growing your wealth to meet your needs and goals in life. Announcement! You can now watch new Thale-Harate episodes on YouTube with video! Visit https://ivm.today/haratevideo and subscribe to see all Thale-Harate video episodes. Subscribe to the IVM TV YouTube channel and click the bell icon to stay notified about future episodes.ದೀಪಕ್ ಶೆಣೈ ಅವರು ನಮ್ಮ ತಲೆ-ಹರಟೆ ಕನ್ನಡ ಪಾಡ್ಕಾಸ್ಟ್ ನ 125ನೆ ಸಂಚಿಕೆಯಲ್ಲಿ ನಿರುಪಕರಾದ ಸೂರ್ಯ ಪ್ರಕಾಶ್ ಮತ್ತು ಪವನ್ ಶ್ರೀನಾಥ್ ಅವರೊಂದಿಗೆ ವೈಯಕ್ತಿಕ ಆದಾಯ, ಉಳಿತಾಯ ಮತ್ತು ಹೂಡಿಕೆ ಬಗ್ಗೆ ಚರ್ಚಿಸುತ್ತಾರೆ.ದೀಪಕ್ ಅವರು ನಿಮ್ಮ ವೈಯಕ್ತಿಕ ಸಂಪತ್ತನ್ನು ಬೆಳೆಸುವ ಸರಳ ಚೌಕಟನ್ನು ತಿಳಿಸುತ್ತಾರೆ. ಉಳಿತಾಯ ಹಾಗು ಹೂಡಿಕೆಯನ್ನು ಪ್ರಾರಂಭಿಸಲು ಬಯಸುವ ಜನರಿಗೆ ಸರಳವಾದ ಸಲಹೆಗಳನ್ನು ತಿಳಿಸುತ್ತಾರೆ. ಹಾಗು, ಇದರಲ್ಲಿ ಹೇಗೆ ಮೋಸಹೊಗಬಹುದು ಎಂಬುದರ ಬಗ್ಗೆ ಅರಿವು ನೀಡುತ್ತಾರೆ. ಕೊನೆಗೆ, ದೀಪಕ್ ರವರು ಕೆಲವು 'ರಾಪಿಡ್ ಫೈರ್' ಪ್ರಶ್ನೆಗಳನ್ನು ಉತ್ತರಿಸುತ್ತಾರೆ. ಬನ್ನಿ ಕೇಳಿ!Should you buy shares in the latest IPO? Take a bet on Bitcoins and Crypto? How do you choose from the 1500+ mutual funds that are out there? What if something happens and the stock markets plummet? And before anything else, how do you even start saving, how much, and to what end? Deepak Shenoy joins hosts Surya Prakash BS and Pavan Srinath to offer simple frameworks around growing your personal wealth, on Episode 125 of the Thale-Harate Kannada Podcast. He busts common myths and pitfalls, avoids giving “hot” stock tips, and gives simple suggestions for people who want to start saving and investing, but don't want finance to become a source of stress and anxiety in their lives. He unpacks the complexity surrounding mutual funds and their various forms and labels, explains how index funds work, and gives his sharp takes on everything from crypto to ULIP life insurance schemes that are popular in India. Deepak Shenoy is the founder of Capitalmind, a private wealth management service. He has been writing and blogging about personal finance, stock markets and more for 15+ years, and has recently published his first book, Money Wise: Timeless Lessons on Building Wealth with Juggernaut Books. He can be found on Twitter at @deepakshenoy. Related Links:- Deepak Shenoy on Twitter and Linkedin.- Book: Money Wise: Timeless Lessons on Building Wealth, on Amazon (Hardcover & Kindle editions) - Capitalmind.in website- Deepak Shenoy on the Paisa Vaisa Podcast with Anupam Gupta in 2018.ಫಾಲೋ ಮಾಡಿ. Follow the Thalé-Haraté Kannada Podcast @haratepod. Facebook: https://facebook.com/HaratePod/, Twitter: https://twitter.com/HaratePod/ and Instagram: https://instagram.com/haratepod/.ಈಮೇಲ್ ಕಳಿಸಿ, send us an email at haratepod@gmail.com or send a tweet and tell us what you think of the show!You can listen to this show and other awesome shows on the new and improved IVM Podcast App on Android: https://ivm.today/android or iOS: https://ivm.today/ios and check out our website at https://ivmpodcasts.com/.You can also listen to the podcast on Apple Podcasts, Spotify, Google Podcasts, Gaana, Amazon Music Podcasts, JioSaavn, Castbox, or any other podcast app. We also have some video episodes up on YouTube! ಬನ್ನಿ ಕೇಳಿ!

On today's show, Shray asks Deepak about how to make sense of the past two years in the markets, macroeconomics, and the seeming irrationality of it all. They also talk about how to look at the year ahead.  Highlights 2021 bad year with all the lives lost, but it happened to be good for markets with the number of IPOs at an all-time high NIFTY returned approximately 23% and has been positive for the 6th consecutive year India being top-heavy, from the income distribution standpoint caused the kid of market outcomes we saw Small firms got hit the most, and that may not be sustainable in the long run Markets don't care about death and destruction for sure. But what moves the market? We've normalized, letting go of our freedoms, and irrationality could be the new normal. Inflation could actually be a function of supply than demand If the market didn't go down in these pandemic years. How can we make any event-based predictions? The boom in startup funding. Has equity become cheaper than debt? Read more at https://capitalmind.in

# What is Financial Independence? # Does everybody need precisely 10 crore to be happy? # Is the process of “Wealth Creation = Cutting out on all your wants & desires completely”?For the past 2 years, it seems like everyone around us is investing either in stocks or crypto and also making generous profits. And you too are probably thinking to jump in right? After all - # Markets are at an all-time high # Crypto is “The New Thing” and you don't want to miss outWell, just wait for a moment, before you begin, in today's episode we've brought Deepak Shenoy, Founder and CEO at Capitalmind (SEBI registered - Portfolio Manager). During the episode, Deepak will help you have the right mindset to begin your investment journey, what to and what not to expect off your investments, and how to evaluate an investment opportunity much more.Notes - 01:40 - Beginning of his investing journey04:33 - Where would your 1st crore of wealth come from? 07:17 - Behavioural changes in growing from 1 to 10 crore wealth10:29 - True definition of financial independence14:20 - Are emotional buying decisions hindrances in wealth creation?24:13 - Has investing become mainstream in 2021?33:30 - How to find under-valued investment opportunities?41:43 - His upcoming book “MONEY WISE: Timeless Lessons on Building Wealth”

How does P2P lending work in India? How safe is P2P lending? Deepak and Shray explore how the industry works, the risks involved and whether the returns are enough to justify the risks. Summary Banks keep a considerable spread between the interest they offer on a deposit and the interest they charge a borrower. So, some people think, why is the spread so big? Why can't I deal with the borrower directly and receive more interest on my money? The problem is you don't know the person you are going to be lending money to. In comes the P2P lending company, which acts as a sort of intermediary between the lender and borrower. When you give your money to a bank (as a deposit), the bank will guarantee that you will get your money back. But in the case of P2P lending, there is no such guarantee that you will get your money back. Another problem with P2P lending is, no one outside knows the actual default rates, and they are often much higher than what these companies report, even though the whole operation is legal. In P2P lending, you don't see one of the three Cs of lending – you don't have collateral; you have capacity and creditworthiness. One of the reasons why P2P companies have flourished is that banks, which should ideally lend money to people whose credit might be questionable, don't lend to them. But the answer is not to 'lend' them money. You can consider it as a form of charity, in which case, even if you don't get the money back, you don't mind losing it. And there are companies that work on this model. An alternative could be microfinance. But there are problems there too. Often, multiple microfinance companies want to lend to the same borrower, who uses the money for purposes other than what they were intended for, with the result that they are not able to repay. But microfinance companies can take this pressure because they are a company. A P2P lending firm is just an intermediary. They have no way to recover the money if a borrower refuses to pay, except send legal notices (because there is no collateral), which may not work. So, the gist is, if you want to give loans through a P2P lending firm, only lend so much that you won't mind even if you lose the money. Give it for charitable purposes. Give it to people who are in such bad shape, they can't afford anything else. Read the full transcript.

Episode 41 - Deepak sits down with returning guest Ruchir Kanakia, the founder of the insurance distribution company OneAssure to discuss our favorite insurance product - term insurance.

What is a Portfolio Management Service? How does it really work? Do they actually benefit their clients? In this episode, Vashistha and Deepak explore PMS' through their experience of running one at Capitalmind. They explain how the operations work, the pros and cons of different fee structures, quantitative strategies and how PMS' are different from AIFs, Mutual Funds and Smallcases.

Is the stock market an engine of our economy or a casino disconnected from reality? Does it require deep thinking or mad gambling? Deepak Shenoy joins Amit Varma in episode 208 of The Seen and the Unseen to talk about the lessons he has learnt about the markets -- and about life. Also check out: 1. Capitalmind, Deepak Shenoy's investment research and wealth management company, 2. The Capitalmind Podcast. 3. Cats in the Cradle -- Ugly Kid Joe (Also, the Harry Chapin original.) 4. Midnight in Chernobyl -- Adam Higginbotham. 5. Nuclear Power Can Save the World -- Joshua S Goldstein, Staffan A Qvist and Steven Pinker. 6. Poker and Stock Markets -- Episode 47 of The Seen and the Unseen (w Mohit Satyanand). 7. Luck is All Around -- Amit Varma. 8. Range Rover -- Archives of Amit Varma's poker column for the Economic Times. 9. Variants of chess on chess.com. 10. The Dichotomy of Markets -- Deepak Shenoy. 11. Brave New World -- Episode 203 of The Seen and the Unseen (w Vasant Dhar). 12. Alpha Zero -- Episode 51 of The Seen and the Unseen (w Devangshu Datta). 13. The New World Upon Us -- Amit Varma. 14. Trading Places on Wikipedia. 15. Our Unlucky Children -- Amit Varma. 16. The State of Financial Advice in India -- Episode 4 of the Capitalmind Podcast. 17. Demystifying GDP -- Episode 130 of The Seen and the Unseen (w Rajeswari Sengupta). 18. Indian Society: The Last 30 Years -- Episode 137 of The Seen and the Unseen (w Santosh Desai). 19. An Adman Reflects on Society & the Self -- Episode 199 of The Seen and the Unseen (w Ambi Parameswaran). 20. Doris 'Tanta' Dungey at Calculated Risk. 21. Invest Like the Best -- Patrick O'Shaughnessy's podcast. 22. Market Wizards & The New Market Wizards by Jack D Schwager. 23. What Goes Up -- Eric J Weiner. 24. The Scam: From Harshad Mehta To Ketan Parekh -- Debashish Basu & Sucheta Dalal. 25. The Intelligent Investor -- Benjamin Graham. 26. Rich Dad Poor Dad -- Robert Kiyosaki. 27. The books of Nassim Nicholas Taleb, Steven Pinker, Philip Tetlock, Nate Silver and Per Bylund. 28. Buffet and When Genius Failed by Roger Lowenstein. 29. Books we Like: On Investing, Trading & More -- The Capitalmind team. This episode is sponsored by The Great Courses Plus. Check out their course, The Art of Investing. For free unlimited access for a month, click here. You can now buy Seen/Unseen swag. And do check out Amit’s online courses, The Art of Clear Writing and The Art of Podcasting.

In this episode, Shray and Anoop discuss momentum investing and how we implement it as portfolios at Capitalmind.

In this episode, Deepak and Shray invite Ruchir, co-founder of OneAssure, to walk us through how to get started with health insurance. 

In this episode, Shray and Sandeep discuss how adding a trend following layer to a long-only portfolio can help enhance returns and lower drawdowns, in the context of Capitalmind Chase - our own such strategy.

In this episode Deepak takes on the Reliance Jio story. Is the stock in a bubble, is there any danger of it becoming a monopoly and why is there only one Reliance in India. Preview "Dhirubhai Ambani himself is responsible for a lot of the shareholder culture in India. Till the early 80s minority Shareholders were considered like second class citizens - there were institutions and promoters - that was all that people cared about. In Dalal street, the “Operators” would consider retail shareholders the pits, they would con people all the time. People would lose money, no one would care. Reliance was one of the few companies that would care about the shareholders. People from his village, from Gujarat would come in and buy shares of Reliance - those people are now probably multi multi millionaires. He built that culture."

Deepak Shenoy of Capitalmind hosts Kunal Shah of CRED as they analyze the affluent - their spending patterns, usage of credit and habits that help them succeed. They talk about high trust groups, creating wealth and incentivizing good behavior. Preview Less than 1% will know what their income per hour is. Therefore, if you find somebody who is making Rs 5,000 per hour (and there are many ways to calculate this). But let’s say you spend 30 mins to get a Rs 1,000 discount on your flight ticket - was it worth your time?

On today’s show, Shray asks Deepak about the recent downgrade of India by Moody’s. Should we care? Are rating agencies more or less relevant after the 2008 debacle and what does the downgrade mean for India. Preview "There’s an internal class system they have developed. Whether it is between companies or across countries. The developed countries get a different framework to work with and what they call the non-developed is held to a different standard."

On today's show, Shray and Deepak discuss debt mutual funds. How do they really work? What do they invest in? And how do you evaluate these funds before investing in them? Preview "The whole money supply in India is about 150 lakh crores. Half of that is in Fixed Deposits with banks. Around 30-40 lakh crores is sitting with government bonds/funds issued by the government. The rest in retail deposits. Debt Mutual funds are nascent in comparison... we’ve calculated that you can pay 80% less tax if you hold a debt fund giving roughly the same interest as an FD if you hold it for 3+ years, even if you take out money from time to time. The tax advantage is huge for individuals who are in higher tax brackets."

On today's show, Shray and Deepak discuss FIIs (Foreign Institutional Investors). Who are they, how big are they, and what role do they play in our markets? Read the transcript here.

On today’s show, we discuss the extreme volatility in financial markets and the Covid-19 pandemic affecting our daily lives. Is this a panic? How to we invest through this storm? Read the transcript here.

On today’s show, Deepak Shenoy (CEO) and Aditya Jaiswal (Analyst) try to understand the ₹30 trillion behemoth, the Life Insurance Corporation of India (LIC). Transcript: https://www.capitalmind.in/2020/02/podcast-how-big-is-lic-anyway/

On today's show, Deepak Shenoy (CEO) and Sahil Kini (Co-founder and CEO, Setu) talk about the problems ailing the Indian financial infrastructure and how APIs are shaping the way digital businesses are built. Transcript: https://www.capitalmind.in/2020/02/indias-new-financial-infrastructure-will-enable-better-more-inclusive-bharat-ux/

On today's show, Deepak Shenoy (CEO) and Aditya Jaiswal discuss the impact of the union budget on our savings and investments- would you be better off moving on to the new tax regime? how does the budget impact your mutual funds (dividend options)? Are the Arb fund dividend reinvestment plans dead? Transcripts: https://www.capitalmind.in/2020/02/podcast-22-how-budget-2020-impacts-the-way-you-save-and-invest/

Is passive investing making investors insensitive to price and valuations? Is this distorting the capital flows to the market? In U.S, the market share for passively managed funds has risen to about 51 percent, but what is the number for India? Where do we stand? Transcripts: https://www.capitalmind.in/2020/01/the-amazing-rise-of-passive-and-what-you-need-to-do-about-it Deepak Shenoy (CEO) and Aditya Jaiswal (Analyst) answer these and a lot more questions on today’s show.

On today’s show, Deepak Shenoy (CEO) and Aditya Jaiswal (Analyst) take you back to the 80s, when the Indian stock market was all wild wild west. It's the April of 1982, a powerful bear cartel has raided the shares of Reliance, they short sell Reliance shares so heavily that it plummets from Rs131 to Rs121 in a short span of time. They have done it in the past and they have done it to many, but this time they have messed up with Dhirubhai Ambani- a businessman who was known for his astute business acumen. Will the bears succeed? or will the tables be turned? Transcript: https://www.capitalmind.in/2020/01/podcast-surviving-a-bear-attack-how-dhirubhai-did-it/

On today’s show, Deepak Shenoy (CEO) and Aditya Jaiswal (Analyst) discuss the New Pension Scheme in detail. Transcript: https://www.capitalmind.in/2020/01/podcast-19-understanding-the-new-pension-scheme/ We discuss the NPS from the perspective of a 30 year old who opts for NPS and contributes INR50,000 every year. How much will he accumulate at retirement? What happens if he loses his job after 5 years? How will the forced annuity impact him at retirement? If he doesn’t wants to opt for NPS, how much should his investments earn to beat the NPS returns plus the associated tax benefits of NPS?

On today’s show, Deepak Shenoy (CEO) and Vashistha Iyer (COO) discuss effective ways to make life simpler by managing cash flows using credit cards and bank overdrafts. Transcripts: https://www.capitalmind.in/2019/12/how-to-master-your-cash-flows-with-credit-cards-and-overdrafts/ Heads-up: 1. Is parking money in bank accounts a risky proposition? 2. If you earn 1 lakh a month and you get a 1 lakh credit card bill, what do you do? Do you not invest that month? 3. Do 'No-cost EMIs' really cost nothing? 4. If you consistently use more than 60-80% of your credit card's limit, does it affect your credit score? 5. Is it better to have multiple credit cards? 6. Is it safer to swipe your credit card more often than your debit card?

On today's show, Deepak Shenoy (CEO) and Aditya Jaiswal (Analyst) discuss the Bharat Bond ETF in detail. Transcript: https://www.capitalmind.in/2019/12/bharat-bond-etf/ Q) Will it provide the much needed liquidity to the debt market? Who are going to be the market makers? Q) Is it a zero credit risk option? and what about the interest rate risk? Q) Is it a good deal for the fixed income investors? Q) Which option will suit you better, the 3-year variant or the 5-year variant? Grab your popcorn and stay tuned, you are going to enjoy this one!

After the debt crisis, another event that has dented investor’s confidence is the mess at Karvy Stock Broking. What led to the debacle? Are brokers misusing your power of attorney? How can you protect yourself?  Joining us on this edition of Money Money Money is Deepak Shenoy, founder of Capitalmind.in; Vivek Bajaj, co-founder of StockEdge; HP Ranina, a corporate lawyer and Bharat Chugh, Partner, L&L Partners & former judge. 

We often hear that "Mutual Funds Sahi Hai". But none of the experts answer, "Konsa Mutual Fund Sahi Hai?" Host Deepak Shenoy (CEO) and Aditya Jaiswal bring you another Podcast where they simplify mutual funds, allocation (debt-equity), SIP vs lump sum debate, the myth regarding Star ratings, ELSS funds, expense ratios, Sectoral funds and a lot more! Transcripts: capitalmind.in/2019/11/how-to-buy-a-mutual-fund-ep-14/

Host Deepak Shenoy (CEO) and Aditya Jaiswal discuss a bunch of interesting things in this podcast including, whether it makes sense to buy a house in the Uber economy, the mother-in-law economics, the financial implications of having a portfolio of properties, and the outlook for the property prices in the near term. Read full transcript: https://www.capitalmind.in/2019/10/podcast-should-you-buy-a-house-ep-13/    

Deepak Shenoy and Shray Chandra discuss in detail about the troubles at the Punjab and Maharashtra Cooperative (PMC) Bank, the role of RBI and what options do PMC bank's depositors have. Read full transcript: https://www.capitalmind.in/2019/09/podcast-the-pmc-bank-debacle-episode-10/  

What is happening in India's stock markets right now? How do the stock markets interact with the real Indian economy? Deepak Shenoy is on Episode 110 of The Pragati Podcast to help us make sense of what is happening in India right now. The Pragati Podcast is a weekly talkshow on public policy, economics and international relations hosted by Pavan Srinath. Deepak Shenoy is the Founder and CEO of Capitalmind, a Bangalore-based investment research and wealth management startup. If you have any questions or comments, write in to podcast@thinkpragati.com. Follow The Pragati Podcast on Instagram: https://instagram.com/pragatipod Follow Pragati on Twitter: https://twitter.com/thinkpragati Follow Pragati on Facebook: https://facebook.com/thinkpragati Subscribe & listen to The Pragati Podcast on iTunes, Saavn, Spotify, Castbox, Google Podcasts, AudioBoom, YouTube or any other podcast app. We are there everywhere. You can listen to this show and other awesome shows on the IVM Podcasts app on Android: https://ivm.today/android or iOS: https://ivm.today/ios, or any other podcast app. You can check out our website at http://www.ivmpodcasts.com/

Detailed Notes from Episode 6 Episode 6 - Momentum: The Anomaly that Persist Fri Aug 23, 2019 Host Deepak Shenoy (CEO) interviewing Prashanth Krishna (Trading, Momentum Portfolio) on the Momentum Strategy and why it’s the anomaly that persists. Capitalmind offers the Momentum Portfolio as part of Capitalmind Premium (subscription service) in Wealth and as part of our Wealth Management Service.  Read full transcript: https://www.capitalmind.in/2019/08/podcast-momentum-the-anomaly-that-persists/   What’s the Definition of Momentum Stocks moving in one direction continue to do so. Speculation? No, Momentum is a factor identifying a stock that is going up and that continues to do so.  As part of Momentum, we are not asking why - we’re just identifying when this trend is happening and when it’s stopped. Same exercise on the way down as well. We are betting on the trend of the market, not taking a contrarian view.   Why does Momentum work? We have research going back decades (generally in the US and other developed markets) that clearly shows that momentum works.  We can show the persistence and impact of momentum but the reasons aren’t very convincing (Rory Sutherland anecdote on knowing something works but not having the exact reason why).  One of the best reasons I’ve come across attributes this to behavioral factors. Investors underestimate at beginning and over-estimate at the end.  Another is asymmetric information - if you know or have figured out something about a stock you will start to acquire more and more shares. As information trickles in, people will jump on the bandwagon and others will replicate. The stock goes from under-information to over-participation driven by FOMO and greed. Isaac Newton story about the South Sea Company, He got in, made 100%, got out, but jumped in once again on peer pressure and then eventually lost everything. Momentum has an end too   How Long do you hold a stock for and what are the Portfolio Construction Strategy, Diversification criteria: We don’t buy for life like Buffett. The average holding period is a couple of months. We know something about the stock but simply not enough to make long term hold decisions Price is the key, price action is the trigger for our investment and exit choices. We don’t want a low liquidity stock We would rather not have a high volatility stock either that keeps hitting upper and/or lower circuits. The best fit is a stock that goes up steadily without making waves So avoid the parabolic rise? Yes, HEG is an example that after it hit all time highs it was subject to indefinite growth style justifications. You can’t start with momentum and then transition to fundamentals. 25-30 stocks is an optimal choice. Even a 50% fall in Vakrangee where couldn’t get out.only caused a drop of 1-2% of your overall capital which is still manageable.   How do you Rebalance? Rebalancing is meaningful - selling and buying has costs, taxes and slippage. Monthly is a sensible level. Let it ride for a month unless there is extreme news. At the next month, re-visit is the stock still worth holding.   What do you do in times like these (months leading up to Aug 2019) when there’s not enough momentum   In Bear runs like the current environment, we stay in cash if we can’t find 30 stocks.    If we only find 20 stocks (instead of 30), we have 33% in cash.    Momentum is often viewed as a negative because of the dangers of manipulation (promoters and operators driving prices). Since you don’t have filters that can track manipulation - how do you deal with this? Manipulation happens at every level, at accounting, price, balance sheet - even an analysis of fundamentals have risk from misleading or false financial statements. Manipulation is easier in a low volume stock. If you filter on high volume, it’s tougher to get caught in a pump and dump.  Between filters and diversification, we avoid mistakes or avoid mistakes that we can’t recover from. In Vakrangee - we rode the stock on the way up and then down as well! Once the lower circuit hits, you can’t exit no matter what your back test claims.   Do you get time to exit? We’re scared of parabolic charts - they become waterfall when the stock comes down. The lower circuits often kick in (unless it’s an F&O stock) so it’s not easy to get out. Fortunately, momentum normally exhausts over time so it gives you down to exit.  It’s the series of small waterfalls kills an investor in a stock.   Pitfalls or Things to Watch out for   How will you build your version of Momentum? If you’re not looking at volume filters - that’s a big risk.  What’s the universe? Momentum today would be say 50% in large and 50% mid cap. Outside of a wholesale fraud, you should have regular market risk. When there’s a drawdown, will you have the conviction to exit the stock like your model tells you to or will you be loss averse? Alpha comes from behavior rather than the genius of the strategy. Have faith in the strategy. The biggest failure point is us.    What are the returns like? Return of this strategy is linked to the market. This isn’t a contrarian portfolio, In a bear market you don’t do great either. Above Nifty returns are achievable based on the track record. During the bull market days you could easily hit the higher end of this range and the numbers looked abnormally great in the short term. However, drawdowns are similar to Nifty. Your portfolio make-up changes from small to mid caps in the bull runs to larger companies in the bear market. You’ll know this is working when Momentum falls in line with Nifty even on the downside but has beats it during the upside.   This has played out in foreign markets as well? Yes, in US like markets we have some data going back nearly a century and this very much works. Low volatility strategies don’t always prosper but Momentum is an anomaly the persists.  Just buying small cap stocks looks great in bull markets but risk adjusted doesn’t really do better than large cap. Momentum gives alpha even after adjusting for risk.   Next Steps: If you’re interested in learning and doing this yourself Capitalmind Premium articles on Momentum (we have a smallcase) https://www.capitalmind.in/momentum-portfolio/   And if you would like us to invest for you, we offer the Momentum to our Capitalmind Wealth customers (Wealth Management/PMS) as well.  

Anupam Gupta (b50 on Twitter) speaks with Deepak Shenoy of Capitalmind, about what to focus on when investing. It's more about just regular investing, than other things like returns or timing the market, says Anupam. You'll make more money by saving more , instead of focussing on how much you should invest at what time in what stock.  Read full transcript: https://www.capitalmind.in/2019/05/podcast-anupam-gupta-on-regular-investing-and-where-to-focus/  Also - focus on liquidity, he says. Locking in investments in insurance or other such locked in plans isn't cool.  On that and more, about India and abroad, about Bombay and other cities - listen to this episode on Regular Investing.  Anupam is a podcast host at Paisa Vaisa, and also an investment research consultant and a Chartered Accountant. 

Here's introducing the Capitalmind Podcast: Of strange things in the financial markets, with Deepak Shenoy and Shray Chandra. Read full transcripts: https://www.capitalmind.in/2019/02/introducing-the-capitalmind-podcast-on-debt-mutual-funds-taking-losses-and-what-you-can-do-about-it/   Today's episode, the very first, is about the concern in debt markets and the hit that debt mutual funds are taking. We'll talk about: What's going on in debt mutual funds and why the four letter word LOSS is staring investors in the face What parallels have we seen in the past for this, in India and globally What are investors supposed to do now, and how they can navigate through this situation Does it get worse before it gets better? The implications for the Zee promoters, IL&FS and DHFL debt. Listen in for more, and do visit https://capitalmind.in for further information. If you'd like to invest with us, check out https://capitalmindwealth.com .  Disclaimer: Capitalmind and customers or employees of Capitalmind may have positions in securities mentioned in the podcast. No information in the podcast should be taken as investment advice, and is for informational purposes only. 

On this episode, we have Deepak Shenoy, Founder of Capitalmind, who explains Portfolio Management Scheme or PMS, an alternate way of investing in the stock market. He talks about how a PMS works, who is it for, what are the costs, and how is it different from a mutual fund. Talk to Anupam on Twitter @b50 Talk to Deepak on Twitter @deepakshenoy Know more about Capitalmind here: www.capitalmind.in You can listen to this show and other awesome shows on the IVM Podcast App on Android: https://goo.gl/tGYdU1 or iOS: https://goo.gl/sZSTU5 You can check out our website at http://www.ivmpodcasts.com/

On this episode, we have Deepak Shenoy, Founder of Capitalmind explaining the concept of active investing and passive investing, and the difference between the two from an Indian perspective. Talk to Anupam on Twitter @b50 Talk to Deepak on Twitter @deepakshenoy Know more about Capitalmind here: www.capitalmind.in You can listen to this show and other awesome shows on the IVM Podcast App on Android: https://goo.gl/tGYdU1 or iOS: https://goo.gl/sZSTU5 You can check out our website at http://www.ivmpodcasts.com/

Tune in to this special episode with guest Deepak Shenoy, Founder of Capitalmind. He shares the key things he's learnt about entrepreneurship and investments, the psychology of investing in stocks, things a new investor should keep in mind before opening an account with a broker, his views on the stock markets going forward and a lot more. Talk to Anupam on Twitter @b50 Talk to Deepak on Twitter @deepakshenoy Know more about Capitalmind here: www.capitalmind.in You can listen to this show and other awesome shows on the IVM Podcast App on Android: https://goo.gl/tGYdU1 or iOS: https://goo.gl/sZSTU5 You can check out our website at http://www.ivmpodcasts.com/

Deepak Shenoy was one of the early professionals to start algorithmic trading in India, way back in 2009. It required sifting through patterns of data and using software-based decision-making systems to trade and make stock calls. While I have been following his Twitter handle @deepakshenoy for past couple of years, some of his recent writings have clearly been outliers, especially in terms of fresh perspective and incisive analysis. “How The 11,400 cr. Import Ponzi Scam at PNB Unfolded” published in February is an example of that. Shenoy, a computer science graduate from the National Institute of Technology, Karnataka, started his career as a coder maintaining mainframe computer systems during 1996-1997. Before formally launching Capitalmind in 2010, Shenoy launched two startups--Moneyoga and Agni Software. “When you are in a job, it’s difficult to harness opportunities. It’s not just being your own boss,” he says. “At some point, you start getting tempted to take up a job because of the cash flow. And around 2012, I had started getting job offers and I didn’t want that,” he adds. It’s important to have targets about how long will you give your startup before calling it quits. “I decided to work on making Capitalmind into a company and give it one year. “ “The first business I ran, we had a 4 months target. It was 1998 and we were making 15,000 every month. We actually did it. We wanted the company to make enough money to help the four of us buy Tata Safari for each of us,” says Shenoy. “If you don’t have a business vision, the danger is of becoming a zombie company. You would always have enough to survive, but without growth, nothing matters. Every company is supposed to be geared for growth. “

⏺ Nifty 50 @ 10,154.20 (0.94%↓) ⏺ Sensex @ 33,033.09 (0.86%↓) (CapitalMind.in Analysis)[https://goo.gl/vvJr2q]