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access_time23 days ago
Two engineers get together to discuss two life essentials - food and money! Our food expert is Krish Ashok. Ashok is Global Head, Digital Workplace at TCS. He is a techie, a musician and an author. He talks about the science behind food, the history of food and offers a lot of food for thought for us to explore further. If you are interested, a good starting point is his famous book - Masala Lab. Our money expert is Deepak Shenoy. Deepak talks about the importance of managing your finances, the myths about investing, the fallacies that investors should avoid, and his take on cryptocurrencies. It is quite a treat to listen when he shares food metaphors to explain financial concepts. So listen in! Topics & References: 02:00 - Science of Indian food & cooking Refer - The parable of turkey and how things are done13:30 - Do modern food habits cause lifestyle diseases? 21:45 - Wait, it's the opposite? Butter is ok but the Naan is not? 25:30 - Basics of food everyone should follow Refer: Michael Pollan: Three Simple Rules for Eating37:00 - The play of sugar & salt 40:00 - People hate changing food habits 45:00 - Each of us processes the same flavor differently 49:00 - We don’t like something because its unfamiliar, not necessarily bad 52:00 - Misconceptions about Food Refer: Why the Tomato Was Feared in Europe for More Than 200 Years56:00 - The myths of Genetic Modification Refer - The Story of Norman Borlaug, the American Scientist Who Helped Engineer India’s Green Revolution01:01:00 - How do we make more people cook? (especially, the men) Refer - Apple Cider Vinegar Rasam01:07:00 - Does the online food delivery phenomenon change things for food and our food habits? 01:11:00 - Switching roles - Ashok Asks Deepak about Money 01:13:00 - Building a relationship with money Refer: Book: The Lexus and the Olive Tree01:17:30 - What money can do for you? 01:23:00 - How an adult should learn the basics of Finance? Refer: Book: An Economist Gets Lunch01:43:00 - How should salaried professionals think about Income Tax? 01:50:00 - Working as an employee Vs working as a businesses 01:54:00 - Understanding Inflation first before learning about investment returns Refer: What you know about inflation might be wrong02:01:00 - How do you make money work for you? 02:09:00 - How to allocate between Equity & Fixed Income? 02:11:00 - Ways for your money to make more money? 02:16:00 - Importance of diversification in Finance & Food 02:19:00 - How should one think about their own risk appetite? Refer: Harry Markowitz and Modern Portfolio TheoryRefer: How Not to Be Wrong: The Power of Mathematical Thinking02:28:00 - Is there a tool that helps track personal financial growth? 02:37:00 - Deepak’s thoughts on cryptocurrencies Refer: Blockchains Are a Bad Idea (James Mickens)Refer: Selling Shovels in the New Startup Gold Rush You can buy Krish Ashok's book on the science of Food - Masala lab. You can buy Deepak Shenoy's book on investing - Money Wise. Check out our wealth management service - Capitalmind Wealth (PMS)
access_time2 months ago
Today's episode is a crossover with The Seen and the Unseen podcast, hosted by Amit Varma. Amit and Deepak discuss how their careers - as creators - have evolved with the digital age. And their journey of discovering their own authentic voices. They take a first hand look at the creator economy and how it's shaping the media today.  2:32:00 onwards, they discuss key lessons in Deepak's new book, Moneywise, along with some behind-the-book stories.
access_time2 months ago
What happens when a company goes bankrupt? Why do investors buy their stocks that are headed to zero? In this episode, we explore how the Insolvency and Bankruptcy Code (IBC) has changed the game. Deepak explains the many nuances of current regulations and how they've evolved. We dive into examples such as Bhushan Steel, Sintex and Ruchi Soya - which we hope will give you clarity. Listen in and decide. Would you stay the hell away from such stocks, or start hunting for bargains? --- Understanding Bankruptcy Businesses are tough and the best ones survive. There are ample failure points for a business that can drive it to bankruptcy. One or a combination of factors such as economical, social, regulatory, political, geographical, etc can drive a business suddenly to the ground or induce a slow death. Such companies eventually stare at bankruptcy. We discuss - - What is bankruptcy? - Does everyone lose money when companies go bankrupt? - Who gets what when the company is sold for parts? --- Learnings from the Sintex saga Sintex Industries, the Ahmedabad-based company, that boasts of tanks covering the skyline of most cities of India, was dragged to bankruptcy courts after it defaulted on a meager payment of ~15.4 crores towards principal and interest on its NCDs. This was the final nail in the coffin for the firm that had mismanaged its finances for too long. We discuss - - What Sintex does as a business - How the company was re-structured (through demerger) - How its issues snowballed to lead the company into IBC Eventually, the IBC ( Insolvency and Bankruptcy Code) tribunal was able to keep the company running and also got a successful bidder to buy out the stressed company. That’s good news for almost all of its stakeholders. Except for its shareholders who will lose all of their equity in the company. So they get nothing. Zero. --- So How does IBC work? Why do existing shareholders lose everything? The short answer: Because existing shareholders contribute nothing to the upcoming growth of the company, they get nothing. The company that these existing shareholders bought into eventually went bankrupt. So the story for existing shareholders ends here with a big zero in their hands. Sounds unfair but that’s how it is. We discuss - - How does the IBC process work? - Every existing stakeholder (debtors, employees, vendors) gets some part of the new entity. The current shareholders should also get a piece no? - What actually happened to  Sintex shares? - How did things use to happen before the IBC? There are a lot of examples discussed in this section that explain different aspects of the bankruptcy process and also highlight how each bankruptcy case is different. --- But, existing shares of Ruchi Soya went up "to the moon" while it was going through bankruptcy All bankruptcies are different and unique. Ruchi Soya was trending on social media recently because the company came back strongly from bankruptcy and its investor (Patanjali) seems to have made a killing on its investment. There’s lots more to the whole revival story. Deepak explains - - How regulatory rules change impacted the Ruchi Soya bankruptcy process - The bidding by Adani and Patanjali - Interestingly, they kept 1% of the company listed. Why? - How does Patanjali make Ruchi Soya operating cash flow positive? - The positive impact of Covid - Why is a company that makes only 800 Crores has a market cap of 31000 crores? --- Does investing in distressed companies work? We all love investing at its theoretical best - buy extremely low and sell high. We also keep repeating Buffett's quotes like “Buy when there is blood on the street”. Distressed companies feel like a value buy all time but they are almost always value traps or falling knives or whatever. We briefly touch upon this before we wind up the podcast - - A quick reference to Buffett’s investing in the Salomon brothers - Brookfield & Hotel Leela deal - distress investing Let us know if you enjoyed our podcasts on Twitter or write to us at premium [at] capitalmind [dot] in!