Livemint Interview: 10 years at Capitalmind, Long Term Focus on India

Featured on Livemint: Deepak Shenoy, the founder and CEO of Capitalmind, believes the real money is in the long game, and investors should think long-term to reap the benefits of India's economic growth. Shenoy says he is positive about defence, manufacturing, premium consumption, financialisation and alternative energy. In an exclusive interview with Mint, he also shares his views on the valuation of Nifty 50 and the strategy one may follow for the mid and small-cap segments.

How do you define 10 years journey at Capitalmind?

When I started Capitalmind, it was built to serve retail investors with tools, education, information about the securities markets, and content for stocks, mutual funds, and bonds.

Over time, our customers asked us to manage their wealth, and we received a SEBI license as a portfolio manager in 2017.

We built it using technology (wealth tech) and kept prices and costs low.

As the PMS has reached nearly seven years in operation and has 2,200 crores in assets under management (AUM), with an amazing team in Bangalore, we have helped our customers build wealth for their long-term goals.

The lessons we've learnt are:

1. In good times, everyone makes money. It's in the bad times that you need the right layer of guidance and handholding to help people react appropriately.

2. Markets are irrational on both the upside and the downside. It's not useful to look for explanations, but it's better to watch market moves first. Don't predict. Respond.

3. A stock doesn't know you own it. Don't get married to your stocks - when it's time to change, you must change.

4. Markets attract a lot of people for the entertainment. Very few stay for the enrichment. Those who do often make stellar returns, but it's slow and boring.

5. As you grow in wealth, spending it is very important. We're always happy when customers dip into their wealth for building greater life experiences, taking a break from work, or just deciding they can retire and live life better.

We have now applied for a license to offer mutual funds and hope to bring more value to those not already wealthy as well.

In the next 10 years, we hope to touch more lives all over the country and beyond to help build their wealth. Onwards, and upwards!

What is your short-term outlook for the market? Is Nifty 50 fairly valued at this point?

Let's cut to the chase - in the short term, predictions are about as useful as a chocolate teapot.

...(Read the rest of the article at Livemint)