YouTube Episode: https://youtu.be/jEB6CwHELjM

On this episode of Paisa Vaisa, Anupam is joined by Amisha Vora - Chairperson & Managing Director at Prabhudas Lilladher. They discuss the evolution of retail investing from the 1990s to 2023, changes in brokerage rates over the past three decades, highlighting the transformative impact of technology and regulations on the industry. Amisha also provides her outlook on the Indian economy, how to grow your equity portfolio and the best sectors and stocks for investing. This and much more on this episode of #PaisaVaisa!

Know more about Prabhudas Lilladher at https://www.plindia.com/.

Find Amisha Vora on Social Media:
Twitter: (https://twitter.com/amisha_vora )
LinkedIn: (https://in.linkedin.com/in/amishavora)
Instagram: (https://www.instagram.com/amishavoraplindia/?hl=en)

Get in touch with our host Anupam Gupta on social media:
Twitter: ( https://twitter.com/b50 )
Instagram: ( https://www.instagram.com/b_50/ )
Linkedin: (https://www.linkedin.com/in/anupam9gupta/ )

You can listen to this show and other awesome shows on the IVM Podcasts website at https://www.ivmpodcasts.com/

YouTube Episode: https://youtu.be/jEB6CwHELjM On this episode of Paisa Vaisa, Anupam is joined by Amisha Vora - Chairperson &amp; Managing Director at Prabhudas Lilladher. They discuss the evolution of retail investing from the 1990s to 2023, changes in brokerage rates over the past three decades, highlighting the transformative impact of technology and regulations on the industry. Amisha also provides her outlook on the Indian economy, how to grow your equity portfolio and the best sectors and stocks for investing. This and much more on this episode of #PaisaVaisa!
Know more about Prabhudas Lilladher at <a href="https://www.plindia.com/">https://www.plindia.com/.</a>
Find Amisha Vora on Social Media: Twitter: (<a href="https://twitter.com/amisha_vora" data-inline-card="" data-card-data="">https://twitter.com/amisha_vora</a> ) LinkedIn: (<a href="https://in.linkedin.com/in/amishavora">https://in.linkedin.com/in/amishavora</a>) Instagram: (<a href="https://www.instagram.com/amishavoraplindia/?hl=en" data-saferedirecturl="https://www.google.com/url?q=https://www.instagram.com/amishavoraplindia/?hl%3Den&amp;source=gmail&amp;ust=1687854538054000&amp;usg=AOvVaw3Sr8OHZhaNTqcdS9v0igTM">https://www.instagram.com/amishavoraplindia/?hl=en</a>)
Get in touch with our host Anupam Gupta on social media: Twitter: ( <a href="https://twitter.com/b50" data-inline-card="" data-card-data="">https://twitter.com/b50</a> ) Instagram: ( <a href="https://www.instagram.com/b_50/" data-inline-card="" data-card-data="">https://www.instagram.com/b_50/</a> ) Linkedin: (<a href="https://www.linkedin.com/in/anupam9gupta/">https://www.linkedin.com/in/anupam9gupta/</a> )
You can listen to this show and other awesome shows on the IVM Podcasts website at <a href="https://www.ivmpodcasts.com/" data-inline-card="" data-card-data="">https://www.ivmpodcasts.com/</a>

Paisa Vaisa is India's premier podcast on personal finance, boasting over 4 million downloads, featuring over 200 hours of insightful content and discussions, hosting more than 250 guests, and presenting a wealth of knowledge through over 450 episodes. Since 2017, Paisa Vaisa hosts experts from mutual funds, stocks, real estate, loans, education financing, insurance, and much more. It has recently introduced a sub-series offering valuable insights in businesses and entrepreneurship.

You can catch this podcast on YouTube 'Paisa Vaisa with Anupam Gupta' or find it on top audio streaming platforms like Apple Podcasts, Spotify, Amazon Music, Google Podcasts, JioSaavn, Gaana, and others.

Paisa Vaisa is India's premier podcast on personal finance, boasting over 4 million downloads, featuring over 200 hours of insightful content and discussions, hosting more than 250 guests, and presenting a wealth of knowledge through over 450 episodes. Since 2017, Paisa Vaisa hosts experts from mutual funds, stocks, real estate, loans, education financing, insurance, and much more. It has recently introduced a sub-series offering valuable insights in businesses and entrepreneurship. You can catch this podcast on YouTube 'Paisa Vaisa with Anupam Gupta' or find it on top audio streaming platforms like Apple Podcasts, Spotify, Amazon Music, Google Podcasts, JioSaavn, Gaana, and others.

The Paisa Vaisa podcast helps you understand all things money so that you can make well-informed financial decisions. Understand the basics every week as host, Anupam Gupta, talks with experts across a wide spectrum of the banking and financial services

Paisa Vaisa with Anupam Gupta

On this episode of Paisa Vaisa, Anupam is joined by Amisha Vohra of Prabhudas Lilladher. They discuss the evolution of retail investing from the 1990s to 2023, changes in brokerage rates over the past three decades, highlighting the transformative impact of technology and regulations on the industry. Amisha also provides her outlook on the Indian economy, how to grow your equity portfolio and the best sectors and stocks for investing. This and much more on this episode of #PaisaVaisa!

Grow Your Equity Portfolio with Prabhudas Lilladher

In this episode of Paisa Vaisa, host Anupam Gupta welcomes Jonathan Guthrie, a veteran award-winning journalist and the former head of the renowned Lex column at the Financial Times. With a career spanning decades at the heart of London’s financial district, Jonathan shares deep insights from his latest book, The Truth About Investing.

The conversation dives into the fundamental shifts in the global investment landscape, comparing the mature UK stock market with the rapid financialization of savings in India. Jonathan breaks down the "Lex test" for evaluating deals and offers a masterclass on navigating the complexities of active vs. passive investing, the dangers of status anxiety, and the reality of risk and advice.

Key Discussion Points:


The Philosophy of Investing: Why managing money cautiously over long periods beats any "get rich quick" scheme.


Active vs. Passive Debates: Understanding that passive funds don't entirely eliminate human error and how to choose an active manager with a "special sauce".


Financial Red Flags: How to spot "juiced" sales metrics, misleading Total Addressable Market (TAM) claims, and why you should be skeptical of "star managers".


The AI Revolution: Jonathan’s take on the current Artificial Intelligence bubble, potential value destruction, and the lessons learned from previous tech fads.


The Concept of "Negative Compounding": How inflation and recurring fees can quietly erode your long-term spending power.


Market Outlook for 2025-26: Thoughts on geopolitical volatility, the role of India as a pivotal state, and the defensive value of domestic defense stocks.

Recommended Reading List from Jonathan Guthrie:


The Truth About Investing by Jonathan Guthrie


The Intelligent Investor by Benjamin Graham (with notes by Jason Zweig)


The Great Crash 1929 by J.K. Galbraith


Capitalism by John Plender

Whether you are a DIY investor managing your own portfolio or just starting your journey in the Indian equity markets, this episode provides a professional framework to help you think like a seasoned financial analyst.



From decoding your personal finances to demystifying business models, Paisa Vaisa delivers candid, insightful, and jargon-free conversations.

Listen on Spotify, Apple Podcasts, Amazon Music, JioSaavn, Gaana & more 
Watch full episodes right here on YouTube
Explore more at ivmpodcasts.com

Connect with Anupam Gupta: 
Twitter: @b50
Instagram: @b_50 
LinkedIn: Anupam Gupta 

Follow IVM Podcasts
We’re @ivmpodcasts on Facebook, Twitter & Instagram

In this episode of Paisa Vaisa, host Anupam Gupta welcomes Jonathan Guthrie, a veteran award-winning journalist and the former head of the renowned Lex column at the Financial Times. With a career spanning decades at the heart of London&rsquo;s financial district, Jonathan shares deep insights from his latest book, The Truth About Investing.
The conversation dives into the fundamental shifts in the global investment landscape, comparing the mature UK stock market with the rapid financialization of savings in India. Jonathan breaks down the "Lex test" for evaluating deals and offers a masterclass on navigating the complexities of active vs. passive investing, the dangers of status anxiety, and the reality of risk and advice.
Key Discussion Points:
<ul data-prosemirror-content-type="node" data-prosemirror-node-name="bulletList" data-prosemirror-node-block="true">
<li data-prosemirror-content-type="node" data-prosemirror-node-name="listItem" data-prosemirror-node-block="true">
The Philosophy of Investing: Why managing money cautiously over long periods beats any "get rich quick" scheme.
</li>
<li data-prosemirror-content-type="node" data-prosemirror-node-name="listItem" data-prosemirror-node-block="true">
Active vs. Passive Debates: Understanding that passive funds don't entirely eliminate human error and how to choose an active manager with a "special sauce".
</li>
<li data-prosemirror-content-type="node" data-prosemirror-node-name="listItem" data-prosemirror-node-block="true">
Financial Red Flags: How to spot "juiced" sales metrics, misleading Total Addressable Market (TAM) claims, and why you should be skeptical of "star managers".
</li>
<li data-prosemirror-content-type="node" data-prosemirror-node-name="listItem" data-prosemirror-node-block="true">
The AI Revolution: Jonathan&rsquo;s take on the current Artificial Intelligence bubble, potential value destruction, and the lessons learned from previous tech fads.
</li>
<li data-prosemirror-content-type="node" data-prosemirror-node-name="listItem" data-prosemirror-node-block="true">
The Concept of "Negative Compounding": How inflation and recurring fees can quietly erode your long-term spending power.
</li>
<li data-prosemirror-content-type="node" data-prosemirror-node-name="listItem" data-prosemirror-node-block="true">
Market Outlook for 2025-26: Thoughts on geopolitical volatility, the role of India as a pivotal state, and the defensive value of domestic defense stocks.
</li>
</ul>
Recommended Reading List from Jonathan Guthrie:
<ol data-prosemirror-content-type="node" data-prosemirror-node-name="orderedList" data-prosemirror-node-block="true">
<li data-prosemirror-content-type="node" data-prosemirror-node-name="listItem" data-prosemirror-node-block="true">
The Truth About Investing by Jonathan Guthrie
</li>
<li data-prosemirror-content-type="node" data-prosemirror-node-name="listItem" data-prosemirror-node-block="true">
The Intelligent Investor by Benjamin Graham (with notes by Jason Zweig)
</li>
<li data-prosemirror-content-type="node" data-prosemirror-node-name="listItem" data-prosemirror-node-block="true">
The Great Crash 1929 by J.K. Galbraith
</li>
<li data-prosemirror-content-type="node" data-prosemirror-node-name="listItem" data-prosemirror-node-block="true">
Capitalism by John Plender
</li>
</ol>
Whether you are a DIY investor managing your own portfolio or just starting your journey in the Indian equity markets, this episode provides a professional framework to help you think like a seasoned financial analyst. From decoding your personal finances to demystifying business models, Paisa Vaisa delivers candid, insightful, and jargon-free conversations. Listen on Spotify, Apple Podcasts, Amazon Music, JioSaavn, Gaana &amp; more Watch full episodes right here on YouTube Explore more at ivmpodcasts.com Connect with Anupam Gupta: Twitter: @b50 Instagram: @b_50 LinkedIn: Anupam Gupta Follow IVM Podcasts We&rsquo;re @ivmpodcasts on Facebook, Twitter &amp; Instagram

Why Most Investors Lose Money: Lessons from Financial Times’ | Jonathan Guthrie | Paisa Vaisa | Anupam Gupta

"Popularity is the biggest risk in investing."

George Joseph of ASK Investment Managers has seen the 1991 scam, the 2000 tech bubble, and the 2008 crash. In this episode, he explains why the "hype" around certain sectors today is a massive red flag.

If you think you can "time the market," George shares a sobering lesson from his own 30-year career. This episode is a reality check on Investor Temperament. We discuss why "boring" asset allocation is the only "magic wand" in wealth management and why Indians need to stop acting like traders and start acting like owners.

Don't miss: The 3 books every serious investor must read to fix their mental models.



KEY TAKEAWAYS


The "5 Crore" Reality: You don't need a 100x multibagger. You need 12% returns and 25 years. A ₹25k SIP isn't just a saving; it's a retirement machine.


"Popularity is the Enemy": If your neighbor, your barber, and your Instagram feed are all talking about a sector (AI/EV/Defense), the "easy money" has already been made. Be careful.


The 85% Rule: ASK filters out 85% of the market based on "Governance" alone. If the management isn't ethical, the business growth doesn't matter.


Boring is Beautiful: The wealthiest people in India don't trade daily. They buy high-quality "boring" businesses and let compounding do the heavy lifting.


The "Black Swan" Preparation: You can’t predict a crash, but you can prepare. George reveals why shifting to Large Caps now is like buying insurance for your portfolio.


Fix Your Brain, Not Your App: The biggest risk to your wealth isn't the market—it's your own panic. Asset allocation is the only "magic wand" that actually works.



From decoding your personal finances to demystifying business models, Paisa Vaisa delivers candid, insightful, and jargon-free conversations.

Listen on Spotify, Apple Podcasts, Amazon Music, JioSaavn, Gaana & more 
Watch full episodes right here on YouTube
Explore more at ivmpodcasts.com

Connect with Anupam Gupta: 
Twitter: @b50
Instagram: @b_50 
LinkedIn: Anupam Gupta 

Follow IVM Podcasts
We’re @ivmpodcasts on Facebook, Twitter & Instagram

"Popularity is the biggest risk in investing."
George Joseph of ASK Investment Managers has seen the 1991 scam, the 2000 tech bubble, and the 2008 crash. In this episode, he explains why the "hype" around certain sectors today is a massive red flag.
If you think you can "time the market," George shares a sobering lesson from his own 30-year career. This episode is a reality check on Investor Temperament. We discuss why "boring" asset allocation is the only "magic wand" in wealth management and why Indians need to stop acting like traders and start acting like owners.
Don't miss: The 3 books every serious investor must read to fix their mental models. 
KEY TAKEAWAYS
<ol data-prosemirror-content-type="node" data-prosemirror-node-name="orderedList" data-prosemirror-node-block="true">
<li data-prosemirror-content-type="node" data-prosemirror-node-name="listItem" data-prosemirror-node-block="true">
The "5 Crore" Reality: You don't need a 100x multibagger. You need 12% returns and 25 years. A ₹25k SIP isn't just a saving; it's a retirement machine.
</li>
<li data-prosemirror-content-type="node" data-prosemirror-node-name="listItem" data-prosemirror-node-block="true">
"Popularity is the Enemy": If your neighbor, your barber, and your Instagram feed are all talking about a sector (AI/EV/Defense), the "easy money" has already been made. Be careful.
</li>
<li data-prosemirror-content-type="node" data-prosemirror-node-name="listItem" data-prosemirror-node-block="true">
The 85% Rule: ASK filters out 85% of the market based on "Governance" alone. If the management isn't ethical, the business growth doesn't matter.
</li>
<li data-prosemirror-content-type="node" data-prosemirror-node-name="listItem" data-prosemirror-node-block="true">
Boring is Beautiful: The wealthiest people in India don't trade daily. They buy high-quality "boring" businesses and let compounding do the heavy lifting.
</li>
<li data-prosemirror-content-type="node" data-prosemirror-node-name="listItem" data-prosemirror-node-block="true">
The "Black Swan" Preparation: You can&rsquo;t predict a crash, but you can prepare. George reveals why shifting to Large Caps now is like buying insurance for your portfolio.
</li>
<li data-prosemirror-content-type="node" data-prosemirror-node-name="listItem" data-prosemirror-node-block="true">
Fix Your Brain, Not Your App: The biggest risk to your wealth isn't the market&mdash;it's your own panic. Asset allocation is the only "magic wand" that actually works. From decoding your personal finances to demystifying business models, Paisa Vaisa delivers candid, insightful, and jargon-free conversations. Listen on Spotify, Apple Podcasts, Amazon Music, JioSaavn, Gaana &amp; more Watch full episodes right here on YouTube Explore more at ivmpodcasts.com Connect with Anupam Gupta: Twitter: @b50 Instagram: @b_50 LinkedIn: Anupam Gupta Follow IVM Podcasts We&rsquo;re @ivmpodcasts on Facebook, Twitter &amp; Instagram
</li>
</ol>

Is your Portfolio a Time Bomb? George Joseph on Market Bubbles & Value Traps.

In this episode of Paisa Vaisa, Anupam Gupta sits down with Akshat Seth, MD & CEO of BirlaNu. They deep dive into the 170-year legacy of the CKA Birla Group and how one of India's oldest conglomerates is transforming for the modern age. Akshat shares his personal journey from a decade in management consulting to leading major operating businesses in healthcare and manufacturing.

If you are interested in business strategy, how large groups manage synergies, or want career advice on making the leap to the C-suite, this conversation is for you. We also discuss the massive rebranding of HIL to BirlaNu and the future of sustainable construction in India.

Key takeaways


The Quality Litmus Tests: Akshat uses the "Family Test" for healthcare (treat patients like family) and the "Home Test" for manufacturing (make products you'd use in your own home) to ensure excellence .


From Consultant to CEO: The transition requires shifting from pure strategy to execution—specifically the ability to build businesses from scratch (0-100) and scale mature ones (100-1000) .


Rebranding HIL to BirlaNu: The rename wasn't just cosmetic; it signals a strategic shift to connect with modern consumers who demand technology and sustainability .


Conglomerate Strategy: The CKA Birla operates on professional management where individual CEOs run companies, bound together by shared values rather than micromanagement .


Sustainability is Essential: Green manufacturing is no longer a differentiator but a "hygiene factor" necessary to compete in global markets like Europe and the US .


Hiring Checklist: For leadership roles, Akshat prioritizes three traits: Hunger for growth, Ownership of the business, and Culture Match .

In this episode of Paisa Vaisa, Anupam Gupta sits down with Akshat Seth, MD &amp; CEO of BirlaNu. They deep dive into the 170-year legacy of the CKA Birla Group and how one of India's oldest conglomerates is transforming for the modern age. Akshat shares his personal journey from a decade in management consulting to leading major operating businesses in healthcare and manufacturing.
If you are interested in business strategy, how large groups manage synergies, or want career advice on making the leap to the C-suite, this conversation is for you. We also discuss the massive rebranding of HIL to BirlaNu and the future of sustainable construction in India.
Key takeaways
<ul data-indent-level="1">
<li>
The Quality Litmus Tests: Akshat uses the "Family Test" for healthcare (treat patients like family) and the "Home Test" for manufacturing (make products you'd use in your own home) to ensure excellence .
</li>
<li>
From Consultant to CEO: The transition requires shifting from pure strategy to execution&mdash;specifically the ability to build businesses from scratch (0-100) and scale mature ones (100-1000) .
</li>
<li>
Rebranding HIL to BirlaNu: The rename wasn't just cosmetic; it signals a strategic shift to connect with modern consumers who demand technology and sustainability .
</li>
<li>
Conglomerate Strategy: The CKA Birla operates on professional management where individual CEOs run companies, bound together by shared values rather than micromanagement .
</li>
<li>
Sustainability is Essential: Green manufacturing is no longer a differentiator but a "hygiene factor" necessary to compete in global markets like Europe and the US .
</li>
<li>
Hiring Checklist: For leadership roles, Akshat prioritizes three traits: Hunger for growth, Ownership of the business, and Culture Match .
</li>
</ul>

Grow Your Equity Portfolio with Prabhudas Lilladher

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