Kuntal Shah on Market Cycles, Lessons from Financial History, and Twelve Equations of Life

I talk to Kuntal Shah, Partner at Oaklane Capital. In this episode, we talk about the importance of understanding stock market cycles, lessons from financial history, twelve equations of life, and much more.
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1:05 Introduction
2:13 Twelve equations of life and investing
8:40 Evolution as an investor
12:26 Is this time different?
14:59 How to deal well with uncertainties in life and investing
17:33 Thoughts on market cycles
21:26 Investing in a rapidly changing world and financial market
24:42 Lessons from financial history
28:58 Human psychology vs asset prices
32:55 Staying ahead in the game of probability
37:40 Luck vs skill in investing
40:40 Napoleon’s lucky generals
41:26 Chasing multibagger stocks vs avoiding blowouts
44:24 Thoughts on risks to businesses
48:16 Business value drivers that help create wealth
52:50 Lessons from key investing mistakes
57:27 Developing an exponential growth mindset
1:00:40 How to behave well as an investor
1:04:15 Is software really eating the world?
1:08:02 Advice to young people wanting to get into finance
1:13:03 Lessons from the pandemic
1:16:49 Big investing truth few investors agree with Kuntal on
1:20:14 Advice to students and young adults on preparing for the future
1:24:45 Thoughts on effective reading
1:27:13 How Needl.ai solves the information overload problem
1:30:08 Best and worst things done in life
1:32:40 Best and worst advice ever received
1:33:38 A life well lived
Books Recommended by Kuntal -
Mindset by Carol Dweck - amzn.to/3MjLAGY
Ego is the Enemy by Ryan Holiday - amzn.to/37Kc8lL
Grit by Angela Duckworth -amzn.to/39TKuDn
The Talent Code by Daniel Coyle - amzn.to/3wccACA
Atomic Habits by James Clear - amzn.to/3wcaHFT
The Compound Effect by Darren Hardy - amzn.to/3PlQLIb
The Power of Positive Thinking by Norman Vincent Peale - amzn.to/3N8RhHC
How to Win Friends and Influence People by Dale Carnegie - amzn.to/3wbj70s
Deep Work by Carl Newport - amzn.to/3FSBXwE
Getting Things Done by David Allen - amzn.to/3yCAuJ9
Tools of Titans by Tim Ferriss - amzn.to/3wcU2SL
Tribe of Mentors by Tim Ferriss - amzn.to/3lbou9A
It's Your Ship by D. Michael Abrashoff - amzn.to/39oXQrf
The Carolina Way by Dean Smith - amzn.to/3Mhu5qS
All I Want To Know Is Where I'm Going To Die So I'll Never Go There by Peter Bevelin - amzn.to/3woJwa1
A Few Lessons for Investors and Managers by Peter Bevelin - amzn.to/3lcWy52
Seeking Wisdom: From Darwin to Munger by Peter Bevelin - amzn.to/3yyJizK
Accounting for Value by Stephen Penman - amzn.to/3FIAVTO
Devil Take the Hindmost: A History of Financial Speculation by Edward Chancellor - amzn.to/3FZM9Ud
Extraordinary Popular Delusions and the Madness of Crowd by Charles Mackay - amzn.to/39TMxax
Stabilizing an Unstable Economy by Hyman P. Minsky - amzn.to/39On6Hp
The (Mis)behavior of Markets by Benoit Mandelbrot - amzn.to/3wr7Yrk
A Short History of Financial Euphoria by John Kenneth Galbraith - amzn.to/3PkOQUt
Manias, Panics and Crashes by Charles P. Kindleberger - amzn.to/3l8SP8D
The Investment Checklist: The Art of In-Depth Research by Michael Shearn - amzn.to/3wbkcp2
The Checklist Manifesto by Atul Gawande - amzn.to/3MdQjKc
How to Read a Book by Mortimer J. Adler - amzn.to/3lbFKeY

[@bazeerali123]

12 equations of life : anything multiplied by zero is zero. happiness depends on low regrets.... keep expectations low to avoid disappointments. Kinetic energy = 1/2 m V2 opportunity cost higher than sunk costs. destruction is far swifter than construction. ebitda is not equal to cash flows. role of luck is supreme.... when in self doubt or distress remind yourself that this too shall pass return decrease as motion increases. fv = long duration of growth without interruptions....this happens on ecosystem of win win. gratitude plus right attitude = permanent high altitude

[@LakshmanKamatham]

Suggested self help books : Mindset by Carol s dweck Ego is the enemy by Ryan holiday Grit by angela duckworth The talent code by Daniel coyle Atomic habits by James clear The Compound Effect by Darren Hardy The Power of Positive Thinking by Norman Vincent Peale How to win friends and influence people. How to stop worrying and start living by Dale Carnegie Deep work by cal Newport Getting Things Done by David Allen Tools of Titans by Tim Ferriss Tribe of mentors by Tim Ferriss

[@ajaydatar108]

Thanks a lot

[@vishiyas]

What a session by Mr.Shah. His words comes from a deep level of knowledge and understanding. The language also is impeccable, it's like he's reading from a book.

[@yukteshwarbaranwal9203]

Hello Vishal, appreciate your effort to come up with this idea of one percent show. The experiences of these gems would help budding investors as value investors. I would like to see Aswath Damodaran in this series of podcast.

[@vikasadhav3167]

Super clarity and thoughts. Vishal has asked all right questions which have been replied with sincerity

[@amitjalaram9]

Oh boy... Drinking from firehose - literally. There is just so much wisdom packed in here. Vishal ji asks very deep / thoughtful questions and then Kuntal Bhai provides equally deep/ detailed answers, speaks so fast, that I had to literally break the whole episode into multiple chunks and revisit them repeatedly.

[@mdarifkhan579]

Excellent knowledgeable minds 👌👍🙏🎉👏👏👏👏👏👏👏👏👏👏👏👏

[@amansukhija6938]

Vishal and Kuntal - The insights shared here would go a long way and ensure growth for the community. Took nearly 3 hours to try and grasp only an iota of what is shared here. :)

[@althafyoosuf7945]

Wonderful session vishal ... Thanks a lot Kundal ji 💐❣️

[@rakeshg133]

Amazing interview , full of insights , wisdom , good advice . Thanks for sharing this video

[@veed3892]

Awesome wisdom. Actually I paused video many times to digest crisp information & BIG insights. Thanks a lot Vishal and Kuntal. 🙏

[@mrinaltayal2044]

I feel 1% more enlightened after watching your shows Vishal K! Great job

[@venkatachalammanickam6968]

I Highly appreciate your integrated efforts in showcasing the potential and talents of yet another financial wizard to share, opening his mind out, to the audience- the real & ultimate beneficiaries! Wishing you great times ahead!

[@debashishbrahma69]

Awesome. One of the best sessions! Shall look forward to part 2

[@travel-and-foood]

Mr. Kuntal shah is really a gem and his speaking ability is also excellent, thnks Vishal sir for such helpful content

[@mrinspirednow]

Hi Vishal - amazing as always and thank you for bringing this wonderful knowledge to make us grow 1% at a time - could I kindly check if there is any way to get the transcripts of these interviews as there are so many gems that I personally would love to go back to. Grateful for all your efforts.

[@greata991]

Book lovers ! Pay attention !! ……A great list of books from this avid reader starts here 1:20:47

[@bhavamedia2698]

Awesome thanks a ton to both of you

[@ramannatube61]

Great interview. Mr Shah is amazing... we need to watch the video multiple times and digest the gyaan

[@prashantnegi3217]

Thanks . Kuntal Shah said, Quality of question throw out quality of answer.1.5 hrs, Lot to take away and learn.

[@ZAHIDBAGWAN]

This is wisdom, bi-product of experience, reading knowledge gained over years. Thanks Vishal and Kuntal Sir for sharing this. Some interviews just make you ponder how little have you read. Thanks 🙏

[@aijaz619]

Greatwork by you and your team.

[@virendersingh2214]

Great worth listening- pages filled of notes of this discussion. Thanks Vishal to bringing him at your show.

[@surendergoyat]

Hi Vishal, this is one of the best interview i have seen. Very crisp and lot of insights. Thanks for making such type of video and your program

[@tripathilavkush]

Thank you sir..very nice !

[@paraschandrachhajer9870]

Congratulations, Mr. Kuntal Shah

[@mdarifkhan579]

Great thoughts and ideas for value investments. Thanks 🙏

[@mohanlaltejwani6114]

Very good conversation 👌. Thanks to both of you for making a impacting show.

[@cadeepakjain7202]

Wow this was superb from both of you...we learn so much .. instantly called for few books which kuntal mentioned !! Thanks

[@anilrajapeddireddy1593]

Tons of knowledge on 1hr 36 min🙏🙏 thank you to both the masters

[@pranavmehta7431]

Investing is not about predictions its about probabilities.......thanks vishal and kuntal for informative episode

[@satheeshkumaran9559]

Thank you for hosting this session, very insightful

[@market_learner27]

very nice....loads of things to take away....more power to you

[@parveenkumar-xo4lh]

Again an amazing video. Your honesty and dedication towards one percent show is highly appreciated. Rightly said, u need to give to universe before receiving back.

[@vikrantupadhyay]

It was amazing vishal, you know you are a mentor to so Many.

[@PBXguru1]

Hi Vishal, It's great to listen your wise advice with wise people's.Thank you. it's great moment to listen to those who managing life in balance.

[@Hemant-RK]

Awesome thanks

[@rajeshwarraoparimala3187]

One of the best episodes

[@malcolmanjirbag5450]

Dear Vishal. This is easily one of those interviews with the most profound learnings and insights. Your homework and research helped bring out the best in Kuntal. He speaks so much like Bharat Shah.....any relation? Also, has Kuntal written any book which is available?

[@rajeshdahiya2578]

Vishal one small suggestion please write the books name whatever guest are referring to

[@kunal_KB]

What an amazing interview!!!

[@harishaswani3597]

Listen and repeat. I can't thank you enough vishal sir. Regards.

[@ਚਾਨਣ]

Amazing interview..amazing man ...gives amazing perspective to investors and people's in general

[@saurabhmathur4935]

Absolutely brilliant….must watch

[@hemantjogal8290]

Thanks both of you sir's

[@aastha222]

Sharing An important point here please share research on this too . Many international school students are counselled to opt for Liberal Arts and Science to pursue 4 years undergraduate programs. Building foundation in multiple areas of life and providing minors and major in one degree is their USP. Please check the subjects under it….sociology, literature, communication, media, psychology, social studies with the lolipop of doing major in some management or sciences. Also have a look at the % of international students in such courses! Big companies do not even recognise such course at par with specialised sciences or management programs. So where do this entire Indian international student cum international uni student crowd is flowing to?

[@himanshupratap29]

Thank you for such a quality interview. Full of knowledge and wisdom.

[@deveshmaheshwari6598]

very nice session

[@chromeyoutube505]

This man is a bookworm. He probably swims in a sea of books.

[@kodilakaleidoscope]

Hi Vishal, Great show. Can you please also share the books shared by the Mr.Shah?

[@sunilxav]

Excellent Interview Vishal.. Can you please list down the books mentioned by Kuntal in the interview..

[@naveengoyal9702]

Sir great interview 👍🏻👍🏻👍🏻 sir any book suggestions for behavior finance

[@nilanjannag2805]

Visal will you please make a list of the books recommend ??? Possible ???

[@sssudhir55]

💯👌👌👌🙌🙌

[@chandreshdagliya3174]

Why is he reading the ppt . Not practical approach

[@buellkhasimai8931]

If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you, prevent inflation from eroding your savings, build generational wealth, and cultivate good habits and financial knowledge, you must be in the market.

[@cathyspiegel6765]

How can I reach this adviser of yours? because I'm seeking for a more effective investment approach How good is this person at portfolio diversification, particularly with regard to digital assets?

[@terrallcoscarelli7002]

Heard many good recommendations about TERESA JENSEN WHITE, and her profitable strategies by some brokers in a seminar and other platforms, I think she's the real deal for people to talk good about her, I will give her a trial and see how it goes then.,..

[@cathyspiegel6765]

Thanks so much I was able to find her page and I already leave her a message.

[@buellkhasimai8931]

I'm surprised you know her too. I've been making a lot of profits learning and investing with her for a few months now. TERESA JENSEN WHITE is one of the best mentor/trader I have ever worked with in the past few years, she knows how best to deal with whatever market situation.

[@litmus_test]

🫡

[@dreamzz79]

Fully appreciate the quality of content & choice of speakers. However, due to excessive preparation, looked like Kuntal was reading out his answers along with all the quotes & book references. No spontaneity. Kuntal could’ve articulated better

[@uditjain07]

Kaash ye interview hindi m hota toh kuch aur dhang se samajh aata