Nilesh Shah on Transformation of India, Lifelong Learning, and Importance of Humility in Investing

I talk to Nilesh Shah, Managing Director of Kotak Mahindra Asset Management Company. Nilesh has over 31 years of experience in capital markets and has managed funds across equity, fixed income and real estate for Indian and global investors. While this is my first interaction with Nilesh, I have looked up to him for the last 20 years, ever since I took my first steps in the investment industry in 2003.
In this episode, Nilesh talks about the transformation of India, lifelong learning, importance of humility in investing, spirituality, and much more.
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1:03 Introduction
3:14 Biggest wonder in investing
6:11 How Indian investors find ways to lose money
8:44 Is this time really different?
10:16 Connecting dots from the past - Biggest lessons learned
19:05 Being a student of market - Importance of lifelong learning
21:23 Story of the horse that learned to eat oats - Thoughts on India and its investors
25:16 Risks to the India story
29:07 Impotance of changing your mind with changing times
37:03 How to check for corporate (mis)governance in companies
40:24 How to identify a good money manager
45:53 Rama vs Krishna vs Duryodhana vs Ravana quotient of living a balanced life
49:46 What important qualities Nilesh looks at while hiring people
52:28 How to separate signal from noise in a noisy world
55:19 Thoughts on spirituality and its role in the life of a modern day thinker
58:06 Aligning spirituality principles with investing
1:01:18 Thoughts on meditation and mindfulness
1:04:10 Teachings from scriptures and their applicability in investing
1:05:57 Habit that has helped Nilesh the most
1:08:08 Most important advice for youngsters
1:10:58 Lessons for new investors and money managers
1:14:33 Nilesh's lessons for his children
1:17:54 Best and worst advice ever received
1:21:58 Best books and resources to learn
1:23:50 Nilesh's definition of a life well lived
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Nilesh's past presentatins and other resources - www.flame.edu.in/academics/fl...
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To know more about my book - The Sketchbook of Wisdom - which Morgan Housel calls "a masterpiece," please visit - book.safalniveshak.com/

[@JO-ox7yq]

Thank you for this interview Vishal. Nilesh seems like a good role model.

[@gauravgoyal7820]

Most humble person of the industry - Nilesh bhai

[@prakashpadalia6253]

Watch at 1.5x .... Nilesh Bhai speaks very slowly

[@alaricoantao11]

May be Very slow… but … with utmost clarity having appropriate choice of words and vocabulary ❤

[@piyushtrevadia4105]

ગમતું કરીએ તો કુજે ના ભરીએ ગમતા નો કરીએ ગુલાલ ❤❤❤❤very good quote by gujrati poem by Mr. Makrand dave. Gujarat unofficial language of stock market

[@ranjeetdesai100]

Super Interview Vishal Bhai and Nilesh Bhai. Thank you so Much learning. Thank You

[@saranggovind]

Thanks VK .

[@shaileshmistry]

Nilesh bhai is so rooted in Dharma. Really inspiring person & a lot of learning’s for me.

[@sachindivakar632]

Thank You Both............

[@aniljagruth7664]

G Thanks Nilesh ,grt to hear, like ur thoughts and wisdom...

[@anurajpandey9898]

Great work, Excellent content, We were missing "The One Percent Show"

[@arnabbhattacharya6579]

Rich discussion. . Enjoyed it

[@mohanlaltejwani6114]

Great 👍. I like it 👌. Thanks to both of you. With best wishes and regards 🙏

[@sachy78]

Great conversation

[@sunilpandya2684]

Amazing video sir

[@iamjavedji]

insightful

[@althafyoosuf7945]

Good session 🌷

[@nafasm]

thanks much Nilesh Bhai and Vishal sir.. I listened full conversation during my jogging/walking

[@rocking1313]

40:29 Anthony Deeden. Chair Edelweiss Holdings - is this on Real Vision sir? Thanks to both of you for sharing your insights.

[@ranitdey6355]

I am rather disheartened to see you interviewing this individual. I have been following your work for many years, and it is disappointing to witness an interview with someone who has been fined 1.6CR by SEBI for violating mutual fund regulations. In value investing, the character and integrity of the person behind the business are of paramount importance, and someone who has compromised their integrity for financial gain raises significant concerns.

[@khurshidshaikh7267]

Indeed. Please refrain from interviewing such a biased man. I call him slo-mo man. The way he talks. Such a slow and tired man.

[@sureshjain2457]

That was..a news.....can you provide some more details...please...

[@bharat461]

Just take the positive side Other side for Regulations 🎉

[@Kris7na]

​@@sureshjain2457Google and see, it shows in top results.

[@Kris7na]

Looks like he gave justification for that Sagar at @47:00 by citing Rama and Krishna quotients.