Capitalmind with Deepak & Shray

You may have no debt yourself, but that doesn't mean you're protected from the risks of leverage. Someone else's borrowing decisions can affect your investments, your home, and even the broader economy. In this episode of the Capitalmind Podcast, Shray Chandra, Co-Founder & Director, Capitalmind Financial Services, speaks with Deepak Shenoy, Founder & Chairperson, Capitalmind Financial Services, about how leverage creates risks for investors, including those who have never borrowed money. They discuss: Housing loans: Why borrowing to buy under-construction property carries risks that investors often underestimate. Stock market leverage: How margin calls, leveraged hedge funds, and forced selling can drive down stock prices. Promoter pledging: How debt taken by company promoters can hurt shareholders, even when the underlying business has little or no debt. Government debt: How rising sovereign debt, interest rates, and Japan's carry trade can affect global financial markets. Personal borrowing: The risks of margin trading funding (MTF), credit card debt, and no-cost EMIs, and when taking on debt can make financial sense. Through real-world examples, from Zee Entertainment and the LTCM crisis to leveraged AI stock investments, the conversation examines how debt-related risks spread through financial markets and what investors can do to identify them. The central takeaway: Understanding leverage in your portfolio means looking beyond what you owe to what others have borrowed against the assets you own.   If you enjoy thoughtful conversations on investing, mutual funds, markets and personal finance, subscribe to the Capitalmind Podcast for new episodes every week 📌 Subscribe for more data-driven investing content every week.  🔗 Follow us:  🌐 Website: https://www.capitalmind.in  🐦 X (Twitter): https://x.com/Capitalmind_in 📸 Instagram:   / capitalmindHQ   💼 LinkedIn:   / capitalmindwealth-pms  Disclaimer: This podcast is for educational and informational purposes only and does not constitute investment, tax or financial advice. Investment products are subject to market risks. Regulations and tax treatment may change. Please consult an appropriate professional before making investment decisions.

The way stock prices are determined at the end of the trading day has changed. The new Closing Auction Session (CAS) is designed to improve price discovery, but its early days have raised questions around liquidity, execution, transparency and what it means for investors.  In this episode of the Capitalmind Podcast, Shray Chandra, Co-Founder & Director, Capitalmind Financial Services, speaks with Deepak Shenoy, Founder & Chairperson, Capitalmind Financial Services, about how the Closing Auction Session works and why closing prices matter so much to Indian markets.  They discuss:  Why the NSE introduced the Closing Auction Session and how it differs from the earlier closing-price mechanism   Why closing prices matter for mutual fund NAVs, index funds and market indices   How CAS affects liquidity, price discovery and order execution   Why certain stocks have seen significant differences between their intraday prices and closing auction prices   What happens when investors place limit or market orders during the closing auction   The implications for mutual funds, PMS portfolios and index funds   Whether the new system can reduce opportunities for price manipulation and arbitrage   Why greater participation and transparency could be important for the system to mature   What investors and market participants should watch as the Closing Auction Session evolves   The discussion also looks at some of the unintended consequences of a new market mechanism, including the information gap faced by investors when the indicative price and order-book information do not provide a complete picture of what is happening during the auction.  This is a technical discussion, but the underlying question is straightforward: when closing prices determine so much across India's investment ecosystem, how should those prices be discovered?    Speakers:  Shray Chandra, Co-Founder & Director, Capitalmind Financial Services Deepak Shenoy, Founder & Chairperson, Capitalmind Financial Services    If you enjoy thoughtful conversations on investing, mutual funds, markets and personal finance, subscribe to the Capitalmind Podcast for new episodes every week.  📌 Subscribe for more data-driven investing content every week.   🔗 Follow us:   🌐 Website: https://www.capitalmind.in   🐦 X (Twitter): https://x.com/Capitalmind_in  📸 Instagram:   / capitalmindHQ    💼 LinkedIn:   / capitalmindwealth-pms      Disclaimer: This podcast is for informational and educational purposes only and should not be relied upon as the basis for investment decisions. Clients of Capitalmind may maintain positions in securities discussed in this podcast. 

Is India really becoming uninvestable, or are investors missing the bigger picture? In this episode of the Capitalmind Podcast, Shray Chandra, Co-founder at Capitalmind Financial Services, speaks with Deepak Shenoy, Founder and CEO, Capitalmind Mutual Fund, about the current pessimism around Indian markets and whether we may be approaching a point of peak pessimism. The discussion covers: • Why investors are bearish on India right now • The bear case around the rupee, crude oil, gold imports, FPI outflows and AI disruption • Lessons from previous market crises in 2002, 2009, 2013, 2020 and 2022 • Whether today's negative narrative is worse than the underlying data • India's earnings recovery, industrial growth and the return of the CapEx cycle • How AI could impact Indian IT companies and the broader economy • Why foreign investing matters, but why going completely global may not be the answer • How investors should think about equity allocation, flexi cap funds, multi-asset funds and phased investing Deepak shares his perspective on why market narratives often become most negative near turning points, and why long-term investors should focus on data, earnings and portfolio construction rather than short-term sentiment. If you are tracking the Indian stock market outlook, mutual funds, equity investing, portfolio allocation, global investing, or wealth creation, this episode offers a detailed perspective on where markets could head next. Speakers • Deepak Shenoy - Founder & CEO, Capitalmind Mutual Fund • Shray Chandra - Co-founder, Capitalmind Financial Services Subscribe to the Capitalmind Podcast for conversations on investing, markets, personal finance and wealth management. Chapters: 00:00:00 - Introduction & Episode Overview 00:02:02 - Steel-manning the Bear Case for India 00:05:42 - Why the Bear Case Isn't the Whole Story 00:06:47 - Historical Parallels: 2002, 2009, 2013, 2020 00:17:40 - Are We at Peak Pessimism Right Now? (May 2026 Data Check) 00:21:51 - What Do We Do About Crude 00:24:52 - Gold Imports & Potential Fixes 00:26:51 - Indian Corporate Earnings & Profit Growth 00:30:10 - CapEx Revival & Credit Growth 00:35:44 - AI: Threat or Opportunity for India? 00:38:35 - FPI & FDI Outflows — Will They Reverse? 00:43:29 - Should You Invest Abroad? The Case for Diversification 00:48:43 - Practical Advice: How to Deploy Cash Now 00:53:10 - Large Cap vs. Small Cap & Which Funds to Consider 00:54:55 - Closing Remarks & Capital Mind Offerings 📌 Subscribe for more data-driven investing content every week. 🔗 Follow us: 🌐 Website: https://www.capitalmindmf.com 🐦 X (Twitter): https://x.com/CapitalmindMF 📸 Instagram: https://www.instagram.com/capitalmindmf 💼 LinkedIn: https://www.linkedin.com/company/capitalmindmf Disclaimer: This podcast is for educational and informational purposes only and should not be construed as investment advice, recommendation, or a solicitation to buy or sell any securities. Investors should evaluate their own financial goals, risk profile and consult a qualified financial advisor before making investment decisions.

What's the deal with AI? Can it manage your money? Can it make you rich? Artificial Intelligence is changing much more than how we invest. It could fundamentally reshape careers, incomes, financial advice and the way we build wealth. In this episode of the Capitalmind Podcast, Shray Chandra, Co-founder at Capitalmind Financial Services, speaks with Deepak Shenoy, Founder & CEO of Capitalmind Mutual Fund, and Vashistha Iyer, Executive Director, Capitalmind Mutual Fund, about one of the biggest questions facing investors today: Can AI optimize your investments - and what happens if it also changes your ability to earn? The conversation explores: • Can AI replace financial advisors and portfolio managers? • Where AI is genuinely useful for investors today • Why judgment and accountability still matter in investing • How to use AI to research mutual funds, portfolios and financial decisions • Why AI may impact your income more than your investments • How much emergency fund you may need in an AI-driven world • Should you rethink savings, investing and career planning? • Why human capital could become your most important asset • How AI changes portfolio construction and financial decision-making • The opportunities-and risks-of using AI for investing Rather than asking whether AI can beat the market, this episode asks a more important question: How should investors prepare for a future where AI changes both wealth creation and income generation? Whether you're an investor, professional, entrepreneur or simply curious about AI's impact on personal finance, this conversation offers practical frameworks instead of predictions. Speakers • Deepak Shenoy - Founder & CEO, Capitalmind Mutual Fund • Vashistha Iyer - Executive Director, Capitalmind Mutual Fund • Shray Chandra - Co-founder, Capitalmind Financial Services Chapters 00:00 Everyone Is Asking the Wrong AI Question 01:52 Can AI Really Optimize Your Investments? 05:11 Context Beats Algorithms in Investing 09:22 Where AI Can Actually Help Investors 15:22 Why Human Judgment Still Matters in Investing 19:43 Could AI Replace Financial Advisors? 22:48 Why Accountability Still Matters 26:00 How We Use AI at Capitalmind 29:44 Will AI Give Big Investors an Edge? 41:24 The Bigger AI Risk: Your Income 43:25 Should You Increase Your Emergency Fund? 49:44 Invest in Yourself Before Anything Else 1:00:39 The Next Battle: AI Optimization 1:05:25 Could the AI Bubble Burst? 1:06:50 Final Advice for Investors 1:08:42 Closing Thoughts  If you enjoy thoughtful conversations on investing, mutual funds, markets and personal finance, subscribe to the Capitalmind Podcast for new episodes every week. 📌 Subscribe for more data-driven investing content every week. 🔗 Follow us: 🌐 Website: https://www.capitalmindmf.com 🐦 X (Twitter): https://x.com/CapitalmindMF 📸 Instagram: https://www.instagram.com/capitalmindmf 💼 LinkedIn: https://www.linkedin.com/company/capitalmindmf Disclaimer: This podcast is intended solely for educational and informational purposes. Nothing discussed should be construed as investment advice, a recommendation, or a solicitation to buy or sell any security or financial product. Please consult a qualified financial advisor before making investment decisions.

Most investors obsess over finding the best mutual fund to invest in. But what if avoiding the worst fund matters far more than picking the absolute best? In this episode, host Shrey Chandra sits down with Deepak Shenoy (Founder & CEO, Capitalmind Mutual Fund) and Anoop Vijaykumar (Head of Equity & Fund Manager, Capitalmind Mutual Fund) to tackle one of the most searched questions in personal finance: how to pick mutual funds that actually deliver long-term returns — without constantly second-guessing your choices. Using 10 years of FlexiCap fund data across 18 funds, they reveal why even top-performing funds underperform 30–50% of the time — and why that's completely normal. They also run a "reactive investor" experiment that shows exactly how timing the market destroys returns, and what a disciplined mutual fund portfolio strategy looks like instead. What you'll learn: • The core vs. satellite portfolio framework and how to allocate across funds smartly • Why mutual fund underperformance doesn't always mean you should exit — and when it does • How fund size and AUM can quietly cap your returns — and the red flags to watch • Corporate governance issues and fund manager changes as early warning signs • The hidden tax impact of switching mutual funds that most investors never calculate • When multi-asset mutual funds make sense as a simplified core holding • How many mutual funds you should hold — and why more isn't always better • 3 questions to ask before picking any fund — covering philosophy, size, and hygiene checks Chapters: 0:00 – Intro 1:50 – Introduction to the topic: What's the best mutual fund? 2:22 – Anoop begins: How to think about picking a mutual fund 3:26 – Analysis of FlexiCap funds over 10 years (18 funds compared) 5:15 – Avoiding the worst funds vs. picking the best 5:35 – Rolling underperformance data - what it reveals 7:07 – Even good funds underperform 1/3 to 1/2 of the time 8:09 – Should you sell an underperforming fund? 8:28 – The "reactive investor" experiment - timing the market backfires 9:51 – What to do before and after investing in a fund 12:07 – Argument for style diversification across funds 13:50 – Two types of successful investors 15:39 – Do multi-asset funds simplify everything? 17:45 – Deepak joins: How many mutual funds should you hold? 20:00 – Core vs. satellite portfolio framework 24:44 – Multi-asset funds as a core holding 28:45 – Can you predict the worst funds? (Size, AUM issues) 31:35 – Corporate governance & fund manager changes as red flags 33:59 – Tax impact of switching funds - often overlooked 39:41 – Three questions to pick the right fund for you 49:46 – Expense ratios: are they really that important? 55:13 – Final framework: philosophy, size, hygiene checks 59:48 – Closing thoughts If you've ever wondered why your mutual fund is underperforming or made the common mutual fund mistakes of chasing last year's top fund or switching too frequently — this conversation will reframe how you think about investing entirely. Whether you're a first-time investor or managing a mature portfolio, this is the clearest framework we've put out on mutual fund selection in India. 📌 Subscribe for more data-driven investing content every week. 🔗 Follow us: 🌐 Website: https://www.capitalmindmf.com 🐦 X (Twitter): https://x.com/CapitalmindMF 📸 Instagram: https://www.instagram.com/capitalmindmf 💼 LinkedIn: https://www.linkedin.com/company/capitalmindmf