Stoic Talks

Stoic Talks

S01E05: “Torch Bearer of a Maverick Organization” with Kalpan Parekh

In our earlier episodes, you have seen us unearth some hidden gems, amazing stock pickers from the Indian stock market, their journey and their thought process. Taking the legacy forward Stoic Podcast proudly presents to you our new series on Decision makers where we interview maverick decision makers, people who are making a difference in their respective fields.

Our guest today is Kalpen Parekh, the CEO of a maverick organization, IDFC MF. I say maverick because what they have done is unprecedented. Where else do you see an organization driven by work ethics to an extent that they forego short-term gains and market share?

**IDFC MF denied participation in euphoric valuations by stopping lump sum payments in their premier fund.**

Stoic Podcast respects this kind of long-term vision and willingness to sustain short-term pain in the process. Let’s listen in to the man himself to understand the company’s culture, ethics, integrity and a lot more.

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Profile:

Kalpen Parekh is the MD & CEO of DSP Mutual Fund

Notes:

[1:50] His eventful start to the career and how Indian markets were changing interest .

[4:30] How his early experiences changed his perspective about fund management business.

[6:45] Huge discrepancies between fund performance and investors performance.

[7:30] The struggle of making behavioral psychology as a part of DNA of the IDFC MF.

[9:00] Does MF industry really create any value?

[14:00] The importance of rise of monthly inflows in funds.

[17:00] The incentivizing of advisors, its challenges and positives.

[23:00] The challenges of saying ‘NO’ to money in expensive markets.

[25:30] The right fund and the right mindset that made the different way of working possible.

[29:50] A beautiful ‘Simplicity’ Program. Demystifying the financial jargon by creative tools and movies.

[33:00] Investors should be made aware of DOWNSIDE RISK

[35:00] Fund Manager vs AMC communication. What is more important?

[39:45] Collaborations in the industry and regulator Improvements in the industry and Role of SEBI:

[40:30] Delegation, organizational structure, hiring decisions and Induction programme

[45:00] Freedom and Productivity

[50:00] What next. Need for simplicity.

[52 mins] WHY this Obsession with an Asset class: Asset Allocation More Important.

[54 mins] Technological advancement and its effect on Industry

[55 mins] 4 pillars of Knowledge at IDFC.

[57 mins] Need to Speak in the language of the customer.

[58 mins] Should retail buy stocks directly

[60 mins] What books are you reading.

References:

Movies Discussed:

Bachat nivesh badhat 

One idiot : https://www.youtube.com/watch?v=vU1l1TB7GzI

PE tool 

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