Navigating Volatile Markets | 17min snip from We Study Billionaires

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TIP583: Preparing for the Bear Market to Come w/ Gautam Baid

We Study Billionaires - The Investor’s Podcast Network

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CHAPTER

Navigating Volatile Markets

This chapter explores the psychological challenges of investing in turbulent markets, emphasizing the importance of focusing on high-quality companies and effective management teams. It discusses strategies for value investing, the implications of rising interest rates, and the need for discerning investment approaches in a changing economic landscape. The conversation highlights how well-managed businesses can weather downturns and create long-term wealth, guiding investors through market complexities.

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Episode notes

Clay Finck is joined by Gautam Baid to discuss his new book, The Making of a Value Investor.

Gautam Baid, CFA is the Managing Partner of Stellar Wealth Partners India Fund, a Delaware-based investment partnership which is available to accredited investors in the US. Gautam is also the Equity Advisor of Complete Circle Stellar Wealth PMS, a portfolio management service which is available to Indian citizens and NRIs globally. Both funds are modeled after the Buffett Partnership fee structure and invest in listed Indian equities with a long-term, fundamental, and value-oriented approach.

Gautam is author of the international best-seller on value investing, The Joys of Compounding. In 2018 and 2019, he was profiled in Morningstar’s Learn from the Masters series.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro.

02:40 - The impetus for Gautam writing a second book.

04:24 -Why journaling is an important practice for value investors.

06:27 - Why judging market sentiment is important and how investors can go about doing so.

13:21 - How Gautam came to the realization that quality of the business should be emphasized.

16:19 - Why a behavioral edge is the most accessible edge to individual investors today.

19:57 - Gautam’s biggest eureka moment in his journaling process.

27:25 -Why we should let our portfolio winners run.

29:31 - How Gautam thinks about liquidity and why Stan Druckenmiller considers it the most important thing in markets.

33:43 - The telltale signs that a bear market is complete.

39:50 - What companies you shouldn’t average down on in a bear market.

47:00 - How quality businesses thrive during a bear market.

48:19 -Why different stocks require differing levels of patience.

50:23 - How we can use the wisdom of markets to our advantage.

54:05 - How Gautam thinks about the Fed’s policies.

59:21 - How investors can best prepare themselves for the next bear market.

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
Check out our newly released TIP Mastermind Community.
Learn more about Gautam’s Fund – Stellar Wealth Partners.
Gautam’s book: The Making of a Value Investor.
Check out the related episode: WSB566: The Passionate Pursuit of Lifelong Learning w/ Gautam Baid, or watch the video here.
Follow Clay on Twitter.
Follow Gautam on Twitter.

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