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

<p>Clay Finck is joined by Gautam Baid to discuss his new book, <em>The Making of a Value Investor</em>.&nbsp;</p><p>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.</p><p><br></p><p>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.</p><p><br></p><p><strong>IN THIS EPISODE YOU’LL LEARN:</strong></p><p>00:00 - Intro.</p><p>02:40 - The impetus for Gautam writing a second book.</p><p>04:24 -Why journaling is an important practice for value investors.</p><p>06:27 - Why judging market sentiment is important and how investors can go about doing so.</p><p>13:21 - How Gautam came to the realization that quality of the business should be emphasized.</p><p>16:19 - Why a behavioral edge is the most accessible edge to individual investors today.</p><p>19:57 - Gautam’s biggest eureka moment in his journaling process.</p><p>27:25 -Why we should let our portfolio winners run.</p><p>29:31 - How Gautam thinks about liquidity and why Stan Druckenmiller considers it the most important thing in markets.</p><p>33:43 - The telltale signs that a bear market is complete.</p><p>39:50 - What companies you shouldn’t average down on in a bear market.</p><p>47:00 - How quality businesses thrive during a bear market.</p><p>48:19 -Why different stocks require differing levels of patience.</p><p>50:23 - How we can use the wisdom of markets to our advantage.</p><p>54:05 - How Gautam thinks about the Fed’s policies.</p><p>59:21 - How investors can best prepare themselves