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:
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The Philosophy of Investing: Why managing money cautiously over long periods beats any "get rich quick" scheme.
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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".
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<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".
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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.
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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.
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Recommended Reading List from Jonathan Guthrie:
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<li data-prosemirror-content-type="node" data-prosemirror-node-name="listItem" data-prosemirror-node-block="true">
The Truth About Investing by Jonathan Guthrie
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The Intelligent Investor by Benjamin Graham (with notes by Jason Zweig)
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<li data-prosemirror-content-type="node" data-prosemirror-node-name="listItem" data-prosemirror-node-block="true">
The Great Crash 1929 by J.K. Galbraith
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<li data-prosemirror-content-type="node" data-prosemirror-node-name="listItem" data-prosemirror-node-block="true">
Capitalism by John Plender
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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

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

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