Sankaran Naren on Market Cycles, Common Sense, and Art of Being a Contrarian Investor

Рет қаралды 42,109

Күн бұрын

I talk to Sankaran Naren, the Chief Investment Officer at ICICI Prudential AMC, and among the most respected names in the Indian fund management industry. We talk about how global central banks are inflating asset prices, market cycles, developing common sense, art of being a contrarian investor, and much more.
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0:00 Introduction
2:29 Early life and investing lessons
5:00 The Chennai Club
10:35 Naren’s key investment principles and biggest learning
17:42 How to practice value investing in a world of free money
22:11 Conservatism and investing
25:22 Essence of contrarian investing
30:44 Changing one’s mind when the facts change
33:47 Biggest risk for investors now
38:15 Dealing with overvaluation in quality
39:58 Naren’s biggest weakness as an investor
43:21 Qualities of businesses that create and destroy value
47:07 Average way of investing is good enough for 99% investors
52:04 Developing investing common sense
53:56 Lessons from the 3 Ms - Marks, Mauboussin, Montier
56:53 India of 2050
1:00:41 Separating signal from noise in a world awash with information
1:02:30 Advice for new fund managers
1:03:29 Advice to young adults to do well in this century
1:06:01 Commonly accepted investment wisdom Naren disagrees with
1:08:11 Naren’s typical day, and life with a special child
1:11:21 Single best piece of advice Naren ever got
1:12:09 Single worst piece of advice
1:13:07 Best books and reading resources

Пікірлер: 104

@desaichinmay22 2 жыл бұрын

Very brave of Mr. Naren to speak about his special child in a public forum. Massive respect to Mr. Naren and his wife. I pray to God may his child be well taken care of after him and his wife. As always this was a great learning experience like other episodes of one percent show.

@dr.manojpatil8289 2 жыл бұрын

👌👌✌️👍🤝✨💐🙏

@kaarthikvaradharajan3810 4 ай бұрын

Thank you Mr Vishal and Mr Naren. It is our heart felt thanks to both of you. Mr Naren is a best fund manager and best human being and he is a best montor for all Investors.

@rajibsingha9404 2 жыл бұрын

I am Following S. naren from last year . He's the only fund manager that make sense to me. Hands down the best fund manager and Great teacher for me. ❤️

@ankurtitan 2 жыл бұрын

True Dear .... Mr. Naren is a 100% Value Investor and follow the intellect of Benjamin Graham 🙂

@hiralaltulsiani2132 2 жыл бұрын

Not only Great fund Manager but also Great Human being.

@ankurtitan 2 жыл бұрын

That is True .... His humbleness in sharing his knowledge is worth admiring 🙂

@bazeerali123 2 жыл бұрын

A honest reply from Mr Naren to all the questions asked.Thanks Mr Naren.Learnt a lot. My key takeaways: * Temperament is very important * client interest - advice for fund managers * Continuous learning and to adapt * Change with times * Intuitive common sense modelling * Don't worry on outcome, focus on the process * Even you know everything about the company,it doesn't not helps you to make money. * Read, reread ,again and again , implement it. * Are people implementing the idea from reading. *If asset class goes down put money. Added,10 Tenents of Value investing: 1)Value, Value , Value : Value investing with a margin of safety 2)Be contrarian 3)Be patient 4)Be unconstained in your search for value 5)Dont forecast 6)Cycles matter 7)History matters 8)Be skeptical 9)Be top and bottom up 10)Treat your clients as your treat yourself Thanks Vishal,A great learning session.Your questions are really superb.

@dr.manojpatil8289 2 жыл бұрын

✌️💯👌💐✨🤝🙏

@ankurtitan 2 жыл бұрын

True .. Mr. Naren especially for retail investors is a gem not as someone enlightening them towards investing but also on become humble as a human 🙂

@kaarthikvaradharajan3810 4 ай бұрын

I learnt many things for naren about investment. He teach us in a very very simple, understanding way for investors. I am invested in his funds

@miltonnadar8614 Жыл бұрын

Not heard many fund managers however he seems to talk straight. His level headedness & maturity comes out when he speaks. If some one can tell whats the retirement age for CIO's. Looking to invest in Couple of funds in ICICI Prudential till this gentleman is at the helm

@agnelron 2 жыл бұрын

Thanks Vishal, looking forward interview with Ramesh Damani

@krsathyabama2390 2 жыл бұрын

*"நல்ல தெளிவான விளக்கம் மற்றும் ஒலிப்பதிவு*"👍🙏🌹.... *வாழ்த்துக்கள் பாராட்டுக்கள் தொடர்க*

@cbzgouse3004 2 жыл бұрын

He is truly a gem . Thank you vishal sir for bringing some one like him on this show.

@ankurtitan 2 жыл бұрын

True Mr. Naren especially for retail investors is a gem 🙂

@saahilsinghi7041 2 жыл бұрын

Hello Vishal sir. Should not one take even 10% leverage.

@gopinath_ravi 2 жыл бұрын

Very good interview. Just no nonsense talk.

@vigneshbaskaran1990 2 жыл бұрын

I heard about Mr. naren, But such a humble person. Stressing on continuous learning and adapting . Awesome 1.15 hrs spent in listening fully

@ankurtitan 2 жыл бұрын

True .. Mr. Naren especially for retail investors is a gem not as someone enlightening them towards investing but also on become humble as a human 🙂

@muthushiva 2 жыл бұрын

Got tears at the end. What a fantastic man he is?. Despite his personal challenges at home, he delivers his best. Very true that mother's can't detach from the sorrows they carry. Lesson for life

@ankurtitan 2 жыл бұрын

True .. Mr. Naren especially for retail investors is a gem not as someone enlightening them towards investing but also on become humble as a human 🙂

@althafyoosuf7945 2 жыл бұрын

Vishal ji, thanks for bringing such personalities to enlighten us.🙏🏻 I was closely following him from 2018 onwards. After covid correction, during MAY'20, Mr.Naren told on ET that he is going to bet now. I followed him and start buying when nifty was at 7900. Outcome was extraordinary ❤️🌷 Thank you Naren sir for your time 🌷

@ankurtitan 2 жыл бұрын

Mr. Naren especially for retail investors is a gem 🙂

@deepakc8888 2 жыл бұрын

Great respect for Sankaran Naren. I mean pure humble person who cares for the people's money.

@bhaskararaoguntreddy9964 2 жыл бұрын

Thanks,Vishal and Naren for bringing an amazing learning experience. It is not a one percent show but a 90% plus show.

@JaiiDesaii 2 жыл бұрын

Please provide the names of books sir mentioned as at times pronunciation might not be clear due to mic. Also one suggestion sir, the book recommendation or reading material recommendation by your guest , you should mention in comments .

@dr.manojpatil8289 2 жыл бұрын

🤝🤝🤝

@prashantgeet 2 жыл бұрын

Naren is an icon. His simplicity and humility is perhaps the key to his investment success, ofcourse in addition to his brilliance and competence

@dr.manojpatil8289 2 жыл бұрын

👌👌🙌✌️🙏

@ankurtitan 2 жыл бұрын

True .. Mr. Naren especially for retail investors is a gem not as someone enlightening them towards investing but also on become humble as a human 🙂

@raghavendrabg6311 2 жыл бұрын

Thanks Vishal .I always find you are great moderator . 1 hours well spent listening to this talk

@nandakumar5937 2 жыл бұрын

Huge respect to both of you. God bless

@adarshkumar37 2 жыл бұрын

Thanks a million, Vishal ..Naren is one Fund Manager, that I was looking forward to hear

@vamsikrishna7097 2 жыл бұрын

Excellent words by naren sit

@ugeshinvestor2414 Жыл бұрын

Surely a great insight from this respected man in the industry.

@safalbatra1541 2 жыл бұрын

What a wonderful insightful conversation. Very helpful.

@ajaymeena2227 2 жыл бұрын

His two line made this shine...thank you sir.

@arunsreenivasan4746 2 жыл бұрын

Thanks for this session. 🙏

@satheeshk6997 2 жыл бұрын

Thank you and my Prayers Shankaran Sir for providing such details and very insightful. Congratulation Vishal for constructing questions in a such way to get the insightful.

@amartyachakraborty9306 2 жыл бұрын

Wonderful manager.Thank you

@divinelight05 2 жыл бұрын

Gud work Vishal . Lots and lots of respect of Naren sir

@ABHISHEK0058 2 жыл бұрын

Bring Rajeev Thakkar

@prafullbhandari7242 2 жыл бұрын

Wonderful interview Sir.

@karansheth820 2 жыл бұрын

Thanks for bringing such amazing content!

@manorakhee 2 жыл бұрын

Fantastic insights.

@sureshgvsCSK 2 жыл бұрын

Thank You Vishal for your efforts.Appreciated

@nafasm 2 жыл бұрын

top notch one, very delighted to listen the conversation

@venkatasaikumardudigam5034 2 жыл бұрын

Great Session Sir

@ytfunlover 2 жыл бұрын

Thank you Vishal and Thank you Sankaran Sir, Simply Amazing ❤️

@sundarraman6206 2 жыл бұрын

Best fund Manager and so humble. Speaks sense all the time. My hero 👍

@ankurtitan 2 жыл бұрын

True .. Mr. Naren especially for retail investors is a gem not as someone enlightening them towards investing but also on become humble as a human 🙂

@maheshthadani7721 2 жыл бұрын

A GREAT interview.

@ashishsaxena22 2 жыл бұрын

Great talk and insights

@aravinda6512 2 жыл бұрын

Wonderful interview!!

@KALYANARAMANM 2 жыл бұрын

Covers a pretty diverse range of topics thanks to the heft added by the interviewer.

@sarthakaju 2 жыл бұрын

What a gem.

@ytfunlover 2 жыл бұрын

Best Bible of Life in general and investing in particular I have ever heard 🙏❤️🙏

@ankurtitan 2 жыл бұрын

True .. Mr. Naren especially for retail investors is a gem not as someone enlightening them towards investing but also on become humble as a human 🙂

@docd967 2 жыл бұрын

Good work, Vishal.

@krsathyabama2390 2 жыл бұрын

*LEARNING IS A NEVER ENDING PROCESS.. 🙄LEARNING FROM OTHERS MISTAKES IS THE BEST WAY TO DEVELOP OUR SELVES🤗🌹🙏... ALL THE BEST...Mr.NAREN*

@ankurtitan 2 жыл бұрын

True .. Mr. Naren especially for retail investors is a gem not as someone enlightening them towards investing but also on become humble as a human 🙂

@Praveen-yu8xk 2 жыл бұрын

Become fan of Naren sir, after watching his interview in moneypurse channel

@ankurtitan 2 жыл бұрын

True .. Mr. Naren especially for retail investors is a gem not as someone enlightening them towards investing but also on become humble as a human 🙂

@subhasdoralli5914 2 жыл бұрын

One of the greatest interview Vishal, Absolutely no airs about him, Great learning for me both in investing and in life , Thanks

@ankurtitan 2 жыл бұрын

True .. Mr. Naren especially for retail investors is a gem not as someone enlightening them towards investing but also on become humble as a human 🙂

@siddharth0401 2 жыл бұрын

Very honest interview in a long long time, very rare in the fund manager breed

@ankurtitan 2 жыл бұрын

True .. Mr. Naren especially for retail investors is a gem not as someone enlightening them towards investing but also on become humble as a human 🙂

@sharavananekl2088 2 жыл бұрын

Very useful sharing by a very down to earth Investment Manager

@ankurtitan 2 жыл бұрын

True .. Mr. Naren especially for retail investors is a gem not as someone enlightening them towards investing but also on become humble as a human 🙂

@ganprasad9653 2 жыл бұрын

This channel is indeed a Gem💎

@akshatlalka6696 2 жыл бұрын

Amazing 😍👍

@seshiprasad3581 2 жыл бұрын

What are the three authors (3Ms) he mentioned ? Howard Marks, Michael mobiusson James Montier and book name is 10 tenets of investing?

@pr0digy954 2 жыл бұрын

10 tentative is principles not book I think.

@balajikandavel 2 жыл бұрын

Sankaran Naren is so open and honest. Lot of valuable lessons to learn. Thanks Vishal

@ankurtitan 2 жыл бұрын

True .. Mr. Naren especially for retail investors is a gem not as someone enlightening them towards investing but also on become humble as a human 🙂

@balajikandavel 2 жыл бұрын

@@ankurtitan really bad marketing strategy from you

@ankurtitan 2 жыл бұрын

@@balajikandavel Dear, Its good to hear you out... For me beauty lies in eyes of beholder ...You definitely saw something from your perspective and it's acceptable 100% ....Please enlighten me from your perspective where I went wrong 🙏

@mdarifkhan579 Жыл бұрын

Superb investment minds 👌 👍

@ranjankumar-ff6fo 2 жыл бұрын

What a simple person with ocean of knowledge he is.

@ankurtitan 2 жыл бұрын

True .. Mr. Naren especially for retail investors is a gem not as someone enlightening them towards investing but also on become humble as a human 🙂

@lalitsinha9403 2 жыл бұрын

Great lessons of when to be conservative and when to be Aggressive 🙏

@ankurtitan 2 жыл бұрын

True .. Mr. Naren especially for retail investors is a gem not as someone enlightening them towards investing but also on become humble as a human 🙂

@siddarthmohta8504 2 жыл бұрын

Very Nice interview. Not only touching relevant questions but also focusing on on struggles/ setbacks provides very different perspective. Absolutely brilliant sir.

@ankurtitan 2 жыл бұрын

True .. Mr. Naren especially for retail investors is a gem not as someone enlightening them towards investing but also on become humble as a human 🙂

@shrikanthmhugar1 2 жыл бұрын

Naren speaks so honestly... On not able to understand certain things which makes me think.. How can a CIO and fund manager can tel publicly... Then i realise this guy is not a noisy but just being honest and telling his experience.

@ankurtitan 2 жыл бұрын

True .. Mr. Naren especially for retail investors is a gem not as someone enlightening them towards investing but also on become humble as a human 🙂

@Shiva-hq7ey 2 жыл бұрын

He is right Printing money loosely

@bolbe1308 2 жыл бұрын

excellent interview, great manager!!

@ankurtitan 2 жыл бұрын

True .. Mr. Naren especially for retail investors is a gem not as someone enlightening them towards investing but also on become humble as a human 🙂

@cooljadu 2 жыл бұрын

my professor for finance

@ankurtitan 2 жыл бұрын

True .. Mr. Naren especially for retail investors is a gem not as someone enlightening them towards investing but also on become humble as a human 🙂

@rambaranwal 2 жыл бұрын

He talked about 10x of investing by Montier. Is this a book? I can’t find it on amazon. Could someone Guide me plz

@kunalmehta1553 2 жыл бұрын

Tenets of Investing. James Montier

@TheManishkhare 7 ай бұрын

I would say... I would say

@anandrangachari3219 2 жыл бұрын

Question on his child was totally unnecessary. Must have pained Naren

@syedabitheen600 2 жыл бұрын

when he says Real estate was costly in 2013 how do we make use of that as an asset class ( reducing or increasing asset allocation? because buying real estate will have a different outcome for every individual and we do not have an index fund or something like that? can someone explain how to do that efficiently?

@adarshkumar37 2 жыл бұрын

Next Kenneth?/Kenneth needs a good mike though