Paisa Vaisa with Anupam Gupta

Kartik Raj Lakshmanan, Senior VP and equity fund manager at UTI with 20+ years managing large-cap, MNC and multicap funds, shares investing perspectives. He discusses why large caps look stronger now. He breaks down banks, Indian IT in an AI world, and how UTI’s Score Alpha/Core Alpha frameworks rank stocks. He also explains multicap vs flexicap and common behavioral investing mistakes.

Vasanth Kamath, founder and CEO of Smallcase, built a platform that brought curated portfolios and global access to millions. He discusses Smallcase’s origin, the move to US fractional stocks from $1, the Zerodha Fund House joint venture, low-cost passive products, and an AI-powered Wealth Office. Short, candid takes on platform growth, product roadmap, and democratizing global investing.

Preeti Chheda, CFO of Mindspace Business Parks and REIT expert with CA, CFA credentials. She explains how REITs work, their tax treatment and three income streams. She covers yields vs total returns, liquidity and transaction costs of physical property. She discusses regulatory safeguards, REIT growth in India and why REITs can be an alternative to owning property.

In this episode of Paisa Vaisa, Anupam Gupta sits down with Nitin Bhasin, Head of Institutional Equities at Ambit Capital, for one of the most grounded and honest market conversations of the year. Nitin brings over 25 years of experience to the table and covers everything from India's position in the global economy, why FIIs have been selling Indian equities, what the Nifty is likely to do over the next 15 to 18 months, and why the Indian IT sector faces its biggest challenge yet in the age of agentic AI. Whether you are a retail SIP investor trying to make sense of a confusing market or a finance professional building a career in equity research, this conversation has something genuinely valuable for you. The discussion goes deep on India versus China, and Nitin's take is refreshingly blunt. He does not believe India and China are even competing in the same league anymore. China is competing with the United States, and India is still figuring out its manufacturing pivot while sitting on a 30 year asset light services mindset that will take a generation to change. He also shares his public market view of a sideways Nifty for another 15 to 18 months, explains why this is a concentration cycle favouring only the top 10 to 15 large cap stocks, and breaks down exactly what SIP investors should do in this environment. The second half of the episode is a masterclass for young analysts and investors, covering what separates good companies from great ones, why culture is the most underrated competitive moat in investing, how to read annual reports the right way, and why communication and imagination are the two skills that will define careers in the AI era. Nitin also shares three book recommendations including Apple in China, Breakneck, and Investing as the Last Liberal Art by Robert Hagstrom. This is essential viewing for anyone serious about Indian markets, long term investing and building a career in finance. Key Takeaways •⁠  ⁠Alpha Shift — Imagination now drives returns, not information or analysis.•⁠  Macro Divergence — China competes with USA, India is in a different league.•⁠  ⁠Watch Cycle — Nifty sideways, concentration favours only top large caps.•⁠  ⁠Intangible Moat — Culture is the one competitive advantage nobody can replicate.•⁠  ⁠Forensic Lens — Tiny expense lines reveal the real character of management.•⁠  ⁠Human Edge — AI kills analysis, communication becomes your only differentiator.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 YouTubeExplore more at ivmpodcasts.comConnect with Anupam Gupta: Twitter: @b50Instagram: @b_50 LinkedIn: Anupam Gupta Follow IVM PodcastsWe’re @ivmpodcasts on Facebook, Twitter & InstagramSee omnystudio.com/listener for privacy information.

Deepak Shenoy, founder and CEO of Capitalmind and quantitative investment thinker, explains why Capitalmind moved from PMS to mutual funds. He discusses multi-asset funds, tax advantages over PMS, dynamic allocation across equity, debt and commodities, volatility reduction, global diversification and who benefits from these structures.

Are you blindly trusting your SIPs to fund your life 20 years from now? In this deep-dive episode of Paisa Vaisa, Anupam Gupta (@b50) welcomes Sameep Singh, Business Unit Head at Policybazaar , to solve the "Final Boss" of personal finance: Retirement. We tackle a question every Indian professional is asking: "How do I generate a ₹1 Lakh post-tax monthly pension?" Using a 40-year-old in Mumbai as a case study, we break down the brutal reality of 7% inflation and why a simple savings account won't cut it. We explore the "Young India" bias why our demographic is obsessed with picking the next multibagger stock but completely ignores the 30-year period after their last salary. Sameep explains the critical "Humbling Years" of the stock market and why your withdrawal strategy is more important than your investment returns. We also introduce the 3% Withdrawal Rule and how it ensures you never outlive your money. From understanding medical inflation (which is growing at 14%!) to why your parents’ FD interest is shrinking due to "Reinvestment Risk," this episode is a masterclass in long-term survival. If you want to stop guessing your future and start building a bulletproof retirement pot, this conversation is for you. Don't forget to stick around for the "Don't Touch the Pot" rule the single habit that separates wealthy retirees from the rest. Key Takeaways - Early Start: Compounding works best over 30 years, transforming even small amounts into massive wealth. Tax Efficiency: Low-cost ULIPs under ₹2.5L premium offer tax-free returns, avoiding the 12.5% LTCG tax on Mutual Funds. Health Priority: Buy health insurance young to fight medical inflation and ensure premiums don't skyrocket later. Safety Net: A safe withdrawal rate is ideally 3%, supplemented by guaranteed income in bad market years. Adequate Cover: A ₹1 Crore term plan is often insufficient for long-term family goals like education and retirement. Lock-in Gains: Annuity plans protect seniors from "Reinvestment Risk" when bank FD rates drop over time. 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 YouTubeExplore more at ivmpodcasts.comConnect with Anupam Gupta: Twitter: @b50Instagram: @b_50 LinkedIn: Anupam Gupta Follow IVM PodcastsWe’re @ivmpodcasts on Facebook, Twitter & InstagramSee omnystudio.com/listener for privacy information.

Sachin Gupta, Executive Director and Chief Ratings Officer at CareEdge Ratings, is a seasoned credit analyst with decades of experience. He discusses India’s strong credit moment and why regulation may be its economic superpower. He explains the Modified Credit Ratio, spots winning sectors like gold lenders and resilient banks. He also flags private credit risks abroad and offers practical signals to watch for looming downgrades.

CA Isha Jaiswal, a chartered accountant turned financial educator who worked at KPMG and Grant Thornton, shares sharp takes on taxation, salary structuring and financial parenting. She discusses the shift from saving to cash flow, salary negotiation hacks like converting variable pay, legal ways to pay rent to parents for HRA, moonlighting risks and hiring kids for odd jobs to teach money.

In this episode of Paisa Vaisa, Anupam Gupta sits down with Karan Shah, Director of Society Tea, to decode the century-long journey of one of India's most beloved brands. Starting as tea traders in 1924 under the name Hasmukhrai & Co., the family successfully transitioned into the packaged tea market in the late 1980s. Karan discusses how they avoid the "third-generation curse" by maintaining a lean, agile family structure and a relentless focus on quality over complacency. We dive deep into their vertical integration strategy—including building their own state-of-the-art milk factory—to ensure their "One Minute Tea" remains true to the authentic Indian palate. Whether you are a business enthusiast or a chai lover, this conversation offers a masterclass in brand longevity and fighting off multinational competition TAKEAWAYS- Legacy Meets Agility: Society Tea blends a 100-year heritage with agile, family-led leadership to outperform global multinational competition. Gut-Driven Brand Identity: Their iconic blue packaging was a "gut feel" decision that successfully defied negative market research and surveys. Control Through Integration: The company built a dedicated milk factory to ensure their "One Minute Tea" premix remains true to authentic chai. Convenience Without Compromise: Their innovation focuses on delivering speed without sacrificing quality by using real ingredients like hand-crushed cardamom. The Sensory Comeback: Society is expanding physical "Tea Terminals" to revive the traditional, sensory ceremony of chai for modern consumers.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 YouTubeExplore more at ivmpodcasts.comConnect with Anupam Gupta: Twitter: @b50Instagram: @b_50 LinkedIn: Anupam Gupta Follow IVM PodcastsWe’re @ivmpodcasts on Facebook, Twitter & Instagram See omnystudio.com/listener for privacy information.

Sailesh Jain, fund manager at Tata Asset Management who runs arbitrage strategies, breaks down how arbitrage works using a simple mango-market analogy. He explains why higher volatility creates profit opportunities, how dividend and special-situation trades boost returns, and who benefits from arbitrage funds versus traditional savings. He also outlines risk controls, portfolio construction and the 2026 market outlook.