Capitalmind with Deepak & Shray

In this episode of the Capitalmind Podcast, Deepak and Shray dissect the surge in New Fund Offerings (NFOs) by mutual funds, dissecting why fund houses are launching new schemes and who truly benefits from them—whether it's the AMC, the customer, or intermediaries like distributors. We also discuss the economics of fund distribution, the role of intermediaries, and how to identify the best options...

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...

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, examinin...

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...

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...

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...

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 impo...

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...

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 lac...

Ever wondered about the whole money thing – how it's made, where it comes from? Well, in this podcast episode, we're breaking it all down, and without using any jargons. We also promise that this podcast will not remind you about an economics class. Because, it's not a lecture on economic theories. Nope. It's more like your friend explaining things in a way that just clicks. You'll walk away with...

  If you are even a little active on social media, especially Twitter, you would have witnessed the exponential increase in tweets related to options trading. Today, we are are going to talk about that - Indian's going gaga over options trading. Deepak & Shray, take a detailed look at this fascinating phenomenon and tell you all that you need to know - except telling you about an options strategy...

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 o...

You've tuned in to another episode of The Capitalmind Podcast, where we tackle a question that's been on your mind: "There's a lumpsum in hand, what's your next move?" In a world where SIPs are all the rage, we're steering the ship towards understanding how to strategically deploy a substantial lumpsum amount. Deepak & Shray walk you through these aspects of managing, deploying and even spending t...

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 quantitat...

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 d...

"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 in...

"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. Sudden...

" 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 siniste...

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...

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"...

  Stockbroking is a unique business enabling millions of people to trade billions of dollars of stocks with unknown counterparties. All trades, in this highly regulated ecosystem, are executed seamlessly, settled correctly, and recorded meticulously. It's fascinating to see how far India has come in making this ecosystem world-class and in some cases, the best in the world. In this podcast, Deepak...

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...

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 econom...

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 go...

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:...