Ramesh Damani on Focus, Backing Up Your Truck, and Lessons from the Wizards of Dalal Street

I talk to Mr. Ramesh Damani, member of the Bombay Stock Exchange and one of the most successful, well-read and erudite investors in India. In this episode, we talk about the importance of focus in investing, backing up your truck, his key lessons from the wizards of Dalal Street, and much more.
To know more about this initiative, check out www.vishalkhandelwal.com/
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0:00 Introduction
2:12 Story of Mr. Damani’s life
3:40 Losing 100% starting capital in a bull market
5:18 Connecting the most important dots
8:19 Story of investing in Infosys’s IPO
10:11 Mr. Damani’s investment principles
15:36 Power of backing up your truck in investing
19:54 Insights from India’s wealth creating businesses
22:13 Importance of pricing power in a disruptive world
25:05 Observations on the 2020-21 market cycle
30:03 Lessons from the Wizards of Dalal Street
33:24 Lessons from Mr. Chandrakant Sampat, doyen of value investing in India
36:55 Separating signal from noise and developing independent thinking
40:47 View on cryptocurrency
42:54 Advice to young people on financial freedom
46:09 Best books and lessons from them
50:49 Real meaning of ‘success’
53:25 Life lessons from the Covid pandemic
55:29 Lessons passed on to kids on how to live a good life
57:55 Best piece of advice received
59:29 Worst piece of advice received

[@pratikdtak]

Though its very tough still i request you to invite radhakrishan damani. Even if he doesnt want to come in front of camera, audio podcast will be very valuable with radhakishan damani.

[@sujith25in]

Not tough almost impossible wish.

[@deepeshsao1008]

You can get his disciple RJ relatively a lot more easier instead of him.

[@RAVIKUMAR-lb4wg]

1

[@arunk8027]

I have followed Mr Damani from last 10 years and benefitted financially from his wisdom.

[@ravipro]

Thanks to Mr. Damani mid 2000 chat series where I learned few things on investing. TCI was one of companies Mr. Damani liked and has been playing out gradually. Given India's runaway I believe logistics will get more organised and become a meaningful marketcap in comparison to other industries.

[@rajibsingha9404]

I feel like Mr.Damani is saying learn from my mistakes and benefit from my experience. Amazing person

[@varunjain2250]

Always looking forward to listening to Mr.Damani !!

[@SandeepAnandM]

Vishal, what you are doing is a great service to the Investing community out there 🙏

[@sundaramspeaks]

Mr.Damani, You are a star and an inspiration. please dont compare with others. You are unique. I learnt from you a lot.

[@PankajGehlot-ii2fy]

Thank you So much Ramesh Sir. You are legend. Thanks to Vishal as well

[@mdarifkhan579]

Rameshji you are a perfect gentleman and a wizard in Investment

[@bharat461]

Thanks again Vishal ji 🙏 pls bring Asish Kacholia sir if possible...... We are waiting 🌹

[@akhaleefa]

Thanks for your efforts. Indians should aim to be rich and we are almost 140 crore people, 18% of world population. Helping each other is going to play a big role in fast development of India. Our economy used to be the best and it should happen again and stay with us. What we passionately aim we achieve most of the time. Unity, peace, progress, prosperity is the need of every Indian and infact every human being.

[@JDM797]

Well said 👍

[@ebikuriakose3208]

Great vishal you should definitely bring in porinju veliyath on floor

[@bidyutkumarbanerjee8410]

Mr. Damani is an extraordinary person to share his views with us

[@dhairyatrivedi1595]

Loved the candour with which he spoke. Very few investors, and even fewer with such stature have the gall to admit their mistakes and their regrets on a public platform.

[@pawan2621]

I came across late to your channel. Yet happy that I came here.

[@Manish-ms9pt]

Ramesh damani sir u are my first guru. I saw an interview of yours which was my leap to the investment journey from trading and if had i not seen that interview of yours, i would have not made my investment journey successful

[@davindersharma4764]

Great to see such humble and knowledgeable person. Very rare person

[@GeetaandRajeev]

My guru Ramesh sir from rediff time

[@amitojha9]

Ramesh Sir! I am thankful for your simplicity and how you opened up your heart about courage and conviction even if we know that there is little downside. Regards Thanks Vishal!

[@riteshmadia8077]

Thank you

[@khilapsingh2838]

Thank you so much!

[@mathewsjohn4361]

Oh boy....BUY LOW, SELL HIGH!!!!. I always forget about my food when I see this gentleman speaks about his life and the wisdom he shares. Awesome. Thanks Vishal. Thanks RD.

[@wedsonolivia4103]

The stock market has been a really tough one this past months, but I watched an interview on CNBC where the anchor kept mentioning "...MARISSA SAPONARE...". This prompted me to get in touch with her, and from October 2021 till now we have been working together, and I can now boast of $540k in my trading portfolio.

[@wedsonolivia4103]

I earned more this year because I have been investing while working at the same time. I invested through MARISSA SAPONARE, same woman that the anchor kept mentioning on CNBC, and made multiple of my start up capital within three months . She lives here in the USA and she is licensed

[@wedsonolivia4103]

No . . . You can just put her name on google and you will be directed to her website and drop her your messages.

[@ramjiv3154]

Thank you Vishal and Ramesh.

[@money_following_knowledge2241]

Thanks for sharing

[@virendersingh2214]

Sir always waiting for your next videos. Really great Session

[@nityanandamukherjee3980]

what a masterpiece!! Thoroughly amazed by bombardment of wisdom !! lots of Love and respect for both

[@akashaykumarmahatha6724]

Thank you both guys

[@RavindraSingh-xn4wd]

Thank you so much for this wonderful talk!

[@umakantyadav8648]

Thanks so much sir

[@sachinagarwal3469]

Super like. I am finding the same set of common traits in people who have made it big in life.

[@nitishgupta6463]

Wow...... Kudos to mr damani ... Not lot of people who share genuine useful information. Forget useful lot of people mislead you. It is very heartful to see people like mr damani... 👍😘 Speaking from heart.

[@siddarthmohta8504]

Once again excellent questions and insightful

[@sunilhemnani6255]

I never missed anything in this series , always inspiring for me -THANKS !!

[@arnabbhattacharya6579]

Nice. ..enjoyed it

[@natarajum196]

Thank you so much both of you..Great insight and valuable lesson sharing.

[@deveshsaxena5250]

Great thoughts shared.......really insightful..amazing

[@sanketmahajan835]

Vishal sir, you are doing a great favor to young investors like us. I am just 24, and to listen to these thoughts, full of wisdom, which these wizards have achieved over years really gives us headstart if followed wisely!!

[@ravirao2069]

Thank you Vishal for this interview hosting Mr. Damani. Thank you Mr. Damani for sharing your wisdom,your rich experiences, golden nuggets.

[@SPSChauhan]

Amazing Insights

[@cricbuzz1123]

Great interview thank you both Mr. Damani and Vishal.

[@peekay159]

Very candid and honest interview . Thanks Vishal for interviewing Mr Damani and thanks a lot to Mr Damani for your honest story. It was really wonderful listening to you and I could continue listening to you. You have been honest and humble. Qualities of successful person. Thanks 🙏🙏🙏

[@stulsiani]

Thanks Damani Sir for sharing your invaluable thoughts and wisdom - kudos to Vishal for making it possible

[@pratikjain1310]

Grt session

[@ppmmbb999]

Thank you for this interview. Mr. Damani is one of my favorite intellectuals in the Indian stock market.

[@vijetarvindpatil7579]

Ramesh Sir, for us you are on par with great investors like Rakesh Ji or Others,

[@aravindtiwari9702]

Amazing content.. 😊👍 Ramesh sir is an inspiration!! 💯

[@ZafarKhanatlantisimc]

Thanks

[@MPK1881]

Very good interview.

[@pavansaija9763]

Awesome interviewer and of course speaker Mr.Damani. Vishal, you asked finest questions which draws best Answers…!! Looking for more insight full more interviews.

[@Rahul1803]

Thanks. Such an insightful and thorough interview.

[@themarendis5765]

Thanks to both of you for the great great interview.

[@natarajanramesh8104]

Awesome interview!!! Great Stuff! Thanks.

[@SK-dp5oc]

Great interview....really liked every bit of it

[@sanjaykale6235]

I benifitted from his u tube lecture...it opened my eyes.

[@navanthchinchore4187]

Hey Vishal, This is great talk I have ever listened too. Thanks for sharing.

[@babaiyermanispiritualandpo2062]

SMARTY LOOKING SPEAKING AND PRESENTATION.

[@rajeevroy4383]

Very interesting questions Vishal

[@peekay159]

Excellent interview.. Honest and candid story from Mr. Damani. Thanks 🙏 🙏🙏

[@amitgoel6759]

Really thanks for sharing such valuable content through your youtube channel.

[@nilanjannag2805]

Visal May Think Of Starting City Wise Wisdom Session Again

[@shivay8026]

Vishal knows what to ask and when to. Very relevant questions asked by Vishal

[@harshmishra4793]

loved and get soo much knowledge from this podcast thanks vishal sir and ramesh sir for this podcast

[@pawanpoddar9293]

Thank you Vishal 👌excellent initiative

[@mohanlaltejwani6114]

A great conversation 👌 👏 👍 😊. Thanks for sharing. Mr Damani is very clear on thoughts. Mr Vishal also done a great job.

[@umeshd5645]

Good very useful information thank you sir

[@cinnamon4605]

37:37 true words

[@yogeshbabu9942]

🙏 excellent

[@agnelron]

Damani is my virtual mentor

[@VivekGulati20]

Vishal, absolute gold lessons! Thank you so much. Yours is the most undervalued stock right now in the KZbin market. I am sure your channel is going to get re-rated pretty soon.

[@mintt7056]

Definitely the channel deserves a re-rating but it wouldn't. Bcoz majority is mostly wrong and hence majority of the people won't have an eye to find value in this channel.

[@shambakar4478]

I admire you ,SIR (Ramesh Damani)

[@varunsr24]

The examples are from late 90s early 00s. Would love to hear from someone of more recent experiences

[@babaiyermanispiritualandpo2062]

Bahut Jaan Hain aap ki baat and looks mein.

[@ravisuj]

Very honest

[@sajjuthomas123]

Great Vishal ji..Why don't you interview yourself or get someone on your channel to interview you..Eagerly waiting for that moment...😊😊

[@babaiyermanispiritualandpo2062]

❤️💖💓 touching speeches interviews videography editing and presentation.

[@pratikjain1310]

Vishal sir I just love this intro music n all the session....plz upload the only intro.

[@VishalKhandelwalshow]

Done, here :-) kzbin.info/www/bejne/e6SyaqRujMhsm8k

[@pratikjain1310]

@@VishalKhandelwalshow thank u ...this made my day😊😊 Made this my mobile ringtone

[@VK-mn8ic]

Today's Investors might say PayTM (backed by Buffet) is growth and new stock...look at how people have lost 50% of the hard earned money in matter of weeks. Another example of early 2000s was suzlon. New company. Renewable energy. Went from 400 at ipo to 1000 to 6 now. Apply the same principles and yet investors lost big time in those and many more. There is much more than those principles.

[@1wordOneWord]

First thing Paytm is not backed by Buffet second thing you need to check valuation he bought infosys at 10 pe . Are you buying paytm at 10 pe? Infosys was profitable at that time. Paytm is profitable? Understand what is he trying to say.

[@saibalchakraborty3573]

@@1wordOneWord company without profit can not be great company, top line and bottom line expansion is the crux, otherwise you will be in bubble. Power of compounding is function of economic moat, top line and bottom line expansion @ 25 % percent at least , fundamental has to support valuation, certainly ethical management.

[@babaiyermanispiritualandpo2062]

❤️💖💓💕 touching Speaking looking videography editing and presentation.

[@beautifulmusicforgoodmood]

Please ask about top 5 gainers and top 3-5 losers in portfolio so far and lessons learned . Please ask this question to all your guests..Also what was the thought process to select those stocks at the time.

[@darshanthacker773]

You are bringing good Personalities on your show and thanks for content Vishal. Just a suggestion, some times I feel this isn't like conversation but question answer session as there is no smooth transition from one topic or subject to another. If you try to emulate Joe Rogan style, it would be very engaging and fun to listen to.

[@bhanupratapsihag1154]

Sir if possible kindly invite Radhakrishan Damani also Thanks

[@amitukd8455]

Call SOIC's Ishmohit on your show...He is also teaching About stock market.

[@ravinarayan5273]

Like his way of investing, just two stocks in his portfolio.

[@kedarlele5179]

Kindly invite Prof Vijay Malik

[@balbhatt]

It’s perfect time to invest because our nse stock market is costliest in world it’s 50% above dowjone and just 90% higher then Shanghai stock exchange inspite of having lowest per capita even then bangladeshi

[@hectar100]

Hi Vishal...would love if you get Samir Arora on your show

[@saugatdebbarmatrader8651]

Sir, please bring Shankar Sharma on your channel one percent show

[@babaiyermanispiritualandpo2062]

Always live and die in mission vision and actions immediately and permanently to become ZERO TO HERO.

[@vedkoli]

Sir Hindi me bhi interview kijiye. It will help lot of Indian who speak Hindi.

[@shikharganjoo]

He had 10 K dollars gifted by his father to explore. Since it is so incomparable to our lifestyles hence i believe it is difficult to gain learnings from his journey. He had a totally different line trajectory

[@gopinath_ravi]

Middle income background he claimed .. whatever, i like his views :)

[@sundaramgokulnath7562]

I bet u cant skip a sec unheard from this video.

[@akhaleefa]

Mr. Ramesh Damani Please think of spreading literacy among Indians taking it to 100%. then comes poverty elimination. Regards.

[@SC-ov4md]

Sounds like Fareed Zakhariah

[@dr.vishalpatil3242]

Can you bring Ashish Dhawan?

[@cyruspatel4428]

Talk less and listen more to the interviewee. Specially at the start.

[@rushabhrd16]

Sanjoy Bhattacharya next please |||||

[@sagarsaxena6318]

While Mr. Damani repeatedly says he comes from a 'modest' background,I would say getting $10,000 with no strings attached 40 years ago from your Dad doesn't seem to suggest that. Anyway,admire his humility to accept the mistakes he has made. An hour well spent.

[@iamrks21]

I was hoping how did everyone missed this point. 😂

[@prashantgoyal2597]

1. Understand the power of compounding 2. Build on your circle of competence 3. BACK UP YOUR TRUCK

[@abhizidane3]

Vishals beginning teleprompter speech is soo irritating.... should do these small things in-prompto or atleast appear to make them in-prompto