Episode notes
Clay Finck is joined by Gautam Baid to discuss his new book, The Making of a Value Investor.
Gautam Baid, CFA is the Managing Partner of Stellar Wealth Partners India Fund, a Delaware-based investment partnership which is available to accredited investors in the US. Gautam is also the Equity Advisor of Complete Circle Stellar Wealth PMS, a portfolio management service which is available to Indian citizens and NRIs globally. Both funds are modeled after the Buffett Partnership fee structure and invest in listed Indian equities with a long-term, fundamental, and value-oriented approach.
Gautam is author of the international best-seller on value investing, The Joys of Compounding. In 2018 and 2019, he was profiled in Morningstar’s Learn from the Masters series.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro.
02:40 - The impetus for Gautam writing a second book.
04:24 -Why journaling is an important practice for value investors.
06:27 - Why judging market sentiment is important and how investors can go about doing so.
13:21 - How Gautam came to the realization that quality of the business should be emphasized.
16:19 - Why a behavioral edge is the most accessible edge to individual investors today.
19:57 - Gautam’s biggest eureka moment in his journaling process.
27:25 -Why we should let our portfolio winners run.
29:31 - How Gautam thinks about liquidity and why Stan Druckenmiller considers it the most important thing in markets.
33:43 - The telltale signs that a bear market is complete.
39:50 - What companies you shouldn’t average down on in a bear market.
47:00 - How quality businesses thrive during a bear market.
48:19 -Why different stocks require differing levels of patience.
50:23 - How we can use the wisdom of markets to our advantage.
54:05 - How Gautam thinks about the Fed’s policies.
59:21 - How investors can best prepare themselves for the next bear market.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Check out our newly released TIP Mastermind Community.
- Learn more about Gautam’s Fund – Stellar Wealth Partners.
- Gautam’s book: The Making of a Value Investor.
- Check out the related episode: WSB566: The Passionate Pursuit of Lifelong Learning w/ Gautam Baid, or watch the video here.
- Follow Clay on Twitter.
- Follow Gautam on Twitter.
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