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THE ALPHA SERIES

EPISODE 11   Free

Investing with the odds

Gordon Dsouza, PE Professional & A Passionate Investor

Gordon Dsouza has been a private equity investor for over 12 years and a public market investor since the early 2000s. As a private equity investor he has made investments across a variety of industries which include consumer, healthcare and industrials. He has also been involved in multiple exits in various exit formats such as IPOs, M&A and secondary sales. Gordon received his MBA from Management Development Institute (MDI) in 2007 and prior to that he received his Bachelors in Engineering from VJTI, Mumbai in 2004. Apart from investing Gordon counts reading, travel, history, fitness and mentoring of young adults as his interests and hobbies.

Twitter | LinkedIn |
 
Agenda
  • Investing Framework
  • View on Consumer Space
  • Age of Disruption
  • Case Studies - Bajaj Finance, Ujjivan, Hatsun
  • Case Studies - VMart, Bharti Infratel & More..
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THE ALPHA SERIES

EPISODE 10   Free

My Investment Journey, Philosophy & Lessons

Abhishek Basumallick, Chief Advisor, Intelsense

Abhishek has an experience of nearly two decades in the Indian markets and has witnessed many bull and bear cycles over this period. His focus is on finding strong long-term compounding stories that can help create investor wealth. He emphasis on building the investment mindset and reducing behavioral biases while investing.

By education, Abhishek is an engineer with an executive management degree from IIM Calcutta. He has been investing since 2000 and his faith in equities is such that personally he is 100% invested in equities.

He strongly believes in investor empowerment and has been associated as a moderator with ValuePickr since its inception. In addition to investing, Abhishek is a sports lover, and himself plays tennis regularly. He is passionate about reading and reads voraciously. Lately he has also started binge watching detective shows on Netflix & Prime Video.

Twitter | LinkedIn | Site
 
Agenda
  • How I Began
  • Insights and Learnings
  • Ideation, Selection, Allocation, Selling
  • Favourite Investing Books
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THE ALPHA SERIES

EPISODE 9   Free

Fragility & Optionality in Business Models

Sanjay Bakshi, Professor, MDI

Prof. Sanjay Bakshi is one of India’s best-recognized finance professors who has been teaching Behavioral Finance, Business Valuation, Forensic Accounting & Corporate Governance at Management Development Institute, Gurgaon since 2001.

He received M.Sc. (Economics) from London School of Economics and Political Science and B.Com. (Hons.) from University of Delhi.

He is also a fellow member of the Institute of Chartered Accountants of India.

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Agenda
  • Sources & Patterns of Fragility
  • Hidden Sources of Upside
  • Probabilities & Consequences
  • Indian & Global Case Studies
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THE ALPHA SERIES

EPISODE 8   Free

Basics of Forensics & Scuttlebutt

Varadharajan R, Value Investor

Varadha is a self taught investor with a focus on small companies ignored by Mr. Market. He views investing as an intersection of economic incentives, psychological motivations and on-the-ground triangulation. He is a voracious reader and likes to read books on investing, science as well as fiction.

He focuses on hypothesis that confluences several broad ranging factors and picks stocks that have an asymmetric risk-reward trade-off.

He has done several sessions on forensics, triangulation, scuttlebutt and writes occasionally.

Twitter |
 
Agenda
  • What’s Forensics?
  • How to Spot Frauds?
  • P&L Misstatement Checks
  • Balance Sheet Checks
  • Cash Flow Conversion Issues
  • What’s Scuttlebutt?
  • Triangulation Process
  • Ways to Find Truth About Companies
  • Case Studies
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THE ALPHA SERIES

EPISODE 7   Free

3 Bucket Investing Framework & My Learnings As A Value Investor

Jana Vembunarayanan,

Jana is a Software Engineer working in California. He got interested in value investing after reading One Up On Wall Street in 2006. He started his investing journey 12 years back and he has been periodically investing in index funds. Never believed in picking individual stocks until he came across Prof. Sanjay Bakshi’s post on VST Industries in 2011.

Prof. Sanjay Bakshi’s writings have influenced him profoundly and made him read voraciously from multiple disciplines. In the quest of acquiring worldly wisdom, Jana started reading one book every week. To learn things deeply, he wrote his first blog in 2013. In the last five years, he has written close to 250 posts. You can find his writings at janav.wordpress.com.

Twitter | Site
 
Agenda
  • Three bucket framework to Investing
  • Can the market be timed?
  • What matters most in compounding?
  • Things I look for in money managers
  • Things I look for in businesses
  • Learnings from Flame Investment Lab
  • Learnings from Internship with Ankur Jain
  • Books you must read
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THE ALPHA SERIES

EPISODE 6   Free

Global Economic Cycle: How Long Will The Party Last?

Naresh Katariya, Value Investor

Naresh Katariya has consulting experience in Investment Banking, Risk Management, Trading in global capital markets. He has headed Global Risk and Compliance Consulting unit in TCS till June 2014.

Naresh is an independent director of Net Avenue Technologies Ltd. He is a passionate full-time investor since 2014, applying analytical and sentiment analysis to value investing.

He holds a Bachelor of Engineering and Risk Management Certification: PRM.

Twitter | Site
 
Agenda
  • US Economy is currently rocking, but…
  • Global Trade War
  • End of QE?
  • Rising Interest Rates' impact on Equities?
  • Takeaways for Indian Economy
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THE ALPHA SERIES

EPISODE 5   Free

Fortune at the bottom of the pyramid – Small Finance Banks in India

Ravi Dharamshi, Founder & MD, ValueQuest Investment Advisors

Ravi has been associated with the Indian stock markets for over 16 years. He has worked in the past with RARE Enterprises, where he was involved with research, private equity deals and value creation activities. He is currently the Managing Director of ValueQuest Investment Advisors, a SEBI registered PMS managing more than 600 Cr. In this role, he heads Investment Strategy and Research at ValueQuest.

Ravi has an MBA in Finance from McCallum Business School in the US.

With an enviable track record in stock picking and his ability to take bold calls, he has been instrumental in generating outsized investment returns. Some of stellar picks include the likes of Cera Sanitary, Amara Raja Batteries, Natco Pharma and Eclerx.

Twitter | LinkedIn | Site
 
Agenda
  • The Opportunity Size
  • Value Migration Opportunity
  • SFB Vs Payment Banks Vs Housing Finance
  • MFI to SFB Transition
  • Key Risks
  • CASA with AU, Equitas & Ujjivan
  • MicroFinance + MSME + Affordable Housing
  • Depressed Valuations
  • Compounding Machines
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THE ALPHA SERIES

EPISODE 4   Free

Thoughts on Valuation along with Case Studies

Samit Vartak, CIO, SageOne Advisors

Samit is one of the founding partners and Chief Investment Officer responsible for ensuring SageOne’s adherence to its core investment philosophy and discipline of risk management. His focus is on building long term wealth for the clients even if it means sacrificing short term money making. He believes in risk management not by seeking extreme diversification or buying sub-par businesses at low multiples, but by building a reasonably diversified portfolio of high quality businesses having long term competitive advantages in attractive and high growth industries.

Samit returned to India in 2006 after spending a decade in the USA working initially in corporate strategy with Gap Inc. and PwC Consulting, and then with Deloitte and Ernst & Young advising companies on business valuation and M&A. This experience forms the backbone that helps him better understand businesses and their fair value. Samit is a CFA® charter holder, an MBA from Olin School of Business of the Washington University in St. Louis and holds a Bachelor of Engineering degree with Honors from Sardar Patel College of Engineering (SPCE), Mumbai University.

Twitter | LinkedIn | Site
 
Agenda
  • Is market really over-valued?
  • Is 22 P/e Expensive?
  • 2018 Vs. 2008
  • Valuation - An art or a science?
  • Is value real or in the eyes of the beholder?
  • Is there bias in Valuation?
  • Approaches to Valuation
  • Does complexity mean precision?
  • Case Studies
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THE ALPHA SERIES

EPISODE 3   Free

Thoughts on Valuation, with examples of cyclicals

Deepak Kapur, Professor & Value Investor

Deepak Kapur is an investor and educator based in Chennai, India. He has over 15 years of experience in the secondary equity markets of India. He primarily focuses on the mid and small-cap space in the secondary equity markets of India. He is value conscious and his preferred style is to hunt for opportunities in businesses that are currently out of favor in the market. He is passionate about teaching and is a visiting lecturer at the Indian Institute of Management, Indore, where he has been teaching a course on Business Valuation since the last eleven years.

He earned his Bachelors in Chemical Engineering and Master’s in Biological Sciences from the Birla Institute of Technology and Science, Pilani, and completed his MBA from Indian Institute of Management, Indore. He is an avid surfer, yoga practitioner and loves reading. His subjects of interest include; history, brain sciences, empirical psychology, financial markets, entrepreneurship, health and nutrition.

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Agenda
  • Does valuation really matter?
  • What is Intrinsic value?
  • An alternative to DCF
  • The right way to calculate RoE
  • Valuing businesses using multiples
  • Thoughts on P/e multiple
  • Vmart Vs Dmart
  • How to value cyclicals?
  • Graphite Electrode Sector
  • Are HEG & Graphite India fully priced?
  • Are hotel stocks cheap?
  • Common pitfalls in valuation
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THE ALPHA SERIES

EPISODE 2

Value of Discipline & Creativity in Investing

Rajeev Agrawal, Founder, Doordarshi Advisors

Rajeev is the Founder and Managing Partner at DoorDarshi Value Advisors which applies Value Investing to the Indian equity market. DoorDarshi focuses on companies that can compound wealth over the long term by partnering with like minded managers in high quality businesses having reasonable valuations.

Prior to starting DoorDarshi, Rajeev was the Managing Director at IHS Markit, Nasdaq listed company. In his previous roles, he has been a Technology executive at some of the leading financial firms like Goldman Sachs, Bank of America and JP Morgan. Rajeev did his B.Tech from IIT Bombay and MBA from IIM Calcutta.

Twitter | LinkedIn | Site
 
Agenda
  • Investment Process
  • Pattern Recognition
  • Discipline Vs Creativity in Investing
  • Growth Vs Value Investing
  • Position Sizing
  • Case Studies
  • Quantitative Vs Qualitative Investing
  • How I identified a 10-bagger
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THE ALPHA SERIES

EPISODE 1

Decoding Special Situations with GS

Gaurav Sud, Managing Partner, Kanav Capital

Gaurav is a BTech from IIT Delhi and MBA in Finance from IIM Calcutta. He has over 18 years of experience in M&A, corporate strategy, financial restructuring & capital markets and has previously worked with KPMG, Wipro, Keane & WNS.

He founded the corporate advisory firm - Kanav Capital Advisors Pvt Ltd and currently is its Managing Partner. He has a deep interest in investing and manages his personal and family's money. Over the last decade he has successfully followed strategies that have given above average risk adjusted returns. Special Situation investing is a keen area of interest for him.

Twitter | LinkedIn |
 
Agenda
  • What is a Special Situation?
  • Types of Special Situations?
  • Why invest in Special Situations?
  • Case Studies
  • Potential Option Value
  • Resources on Special Situations
  • Downside of the strategy
  • Potential Ideas
  • My Experience
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THE WISDOM SERIES

EPISODE 1   Free

In Conversation with Altais Advisors

Vishal Mittal & Saurabh Basrar, Partners, Altais Advisors

Vishal has over 14 years of experience spanning equity investing and financial consulting. He has been investing in the Indian equity markets since early 2000’s. He has previously worked with Bharti Airtel and A T Kearney. He earned his MBA from Indian Institute of Foreign Trade (IIFT) and has also completed the MDP at IIM-A.

Saurabh started his career with Citibank and worked with A T Kearney and Fidelity Investments in India and abroad. Saurabh has been investing in equity markets since 2003. Saurabh is CFA charter holder from CFA Institute (USA) and is also a member of The Institute of Chartered Accountants of India.

Site
 
Agenda
  • Brief Background & Introduction
  • Altais' Investing Philosophy
  • Portfolio Construction & Allocation
  • Big Winners & Losers
  • Favourite Investing Books
  • Masterclass with Super-Investors
  • Key Lessons