Safal Niveshak

Wit. Wisdom. Value Investing.

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Archives for July 2025

Investing and the Paradox of Skill

🎁 Special Anniversary Discounts (Until 31st July 2025)

🎁 Hardcover Books: The Sketchbook of Wisdom & Boundless: Now available at discounted prices:

🎁 Mastermind Value Investing membership: ₹3000 off for new members. Click here to join now.

🎁 Value Investing Almanack newsletter: ₹3000 off on the annual plan. Click here to join now.

🎓 Offline Value Investing Workshop in Mumbai (10th August):
Join me in-person for a day of deep learning, reflection, and conversations around value investing and life. Click here for details and registration.

💻 Online Masterclass – The Art of Valuation (2nd August):
A 3-hour live session on decoding intrinsic value and learning how great investors think about price vs. worth. Click here for details and registration.

If you’ve been investing for a while, you’ve probably had that odd experience where you did everything right – like studying a company carefully, buying it at a sensible price, and then holding on with patience – and yet, the outcome felt as random as a coin toss.

It’s frustrating and humbling, and yet, as the leading investment analyst and thinker Michael Mauboussin explains, this is the nature of the world we operate in.

[Read more…] about Investing and the Paradox of Skill

Investing Wisdom from the Rise and Fall of a Market Genius

A few quick updates from Safal Niveshak HQ:

🎓 Offline Value Investing Workshops in Hyderabad (27th July) and Mumbai (10th August):
Join me in-person for a day of deep learning, reflection, and conversations around value investing and life. Click here for details and registration.

💻 Online Masterclass – The Art of Valuation (2nd August):
A 3-hour live session on decoding intrinsic value and learning how great investors think about price vs. worth. Click here for details and registration.

Special Anniversary Discounts:
🎁 The Sketchbook of Wisdom & Boundless: Now available at discounted prices for a limited time (till 30th July):

🎁 Mastermind Value Investing membership: ₹3000 off for new members. Click here to join now.

🎁 Value Investing Almanack newsletter: ₹3000 off on the annual plan. Click here to join now.

In 1929, just before the Great Depression hit, Jesse Livermore was hailed as a legend.

While the rest of Wall Street was drowning in panic, Livermore had taken a large short position and walked away with over $100 million in profit.

Newspapers called him “The Boy Plunger.” His wife, it’s said, was afraid to tell her friends how much money they had made. It felt indecent.

But here’s the twist. Less than a decade later, Livermore was broke.

And this was not his first fall. Nor would it be his last.

[Read more…] about Investing Wisdom from the Rise and Fall of a Market Genius

Do What Matters: A Framework to Invest and Live Better

A few quick updates from Safal Niveshak HQ:

Special Anniversary Discounts:
🎁 The Sketchbook of Wisdom & Boundless: Now available at discounted prices for a limited time (till 30th July):

🎁 Mastermind Value Investing membership: ₹3000 off for new members. Click here to join now.

🎁 Value Investing Almanack newsletter: ₹3000 off on the annual plan. Click here to join now.

Offline Value Investing Workshops in Hyderabad and Mumbai:
Join me in-person for a day of deep learning, reflection, and conversations around value investing and life. Click here for details and registration.

Online Masterclass – The Art of Valuation:
A 3-hour live session on decoding intrinsic value and learning how great investors think about price vs. worth. Click here for details and registration.

I have a friend who is one of the most “on top of things” person I’ve ever met. Constantly busy, with a full calendar, phone buzzing non-stop, and always trying out something new. It may be a new productivity app, a different fitness routine, or a new investment trend. He follows ten finance influencers and sends me screenshots of fund comparisons late at night with the question, “Which one is slightly better?”

But behind trying to be on top of things, or probably due to that, I often find him stuck and uncertain. His savings are erratic. His investments are scattered. His health is going downhill, and he says he’s lost connection with a few close friends because, in his words, “There just isn’t time.”

[Read more…] about Do What Matters: A Framework to Invest and Live Better

The Psychology of Investing #13: The Deception of a Good Outcome

A few quick updates from Safal Niveshak HQ:

Special Anniversary Discounts:
🎁 The Sketchbook of Wisdom & Boundless: Now available at discounted prices for a limited time (till 30th July):

🎁 Mastermind Value Investing membership: ₹3000 off for new members. Click here to join now.

🎁 Value Investing Almanack newsletter: ₹3000 off on the annual plan. Click here to join now.

Offline Value Investing Workshops in Hyderabad and Mumbai:
Join me in-person for a day of deep learning, reflection, and conversations around value investing and life. Click here for details and registration.

Online Masterclass – The Art of Valuation:
A 3-hour live session on decoding intrinsic value and learning how great investors think about price vs. worth. Click here for details and registration.

The Internet is brimming with resources that proclaim, “nearly everything you believed about investing is incorrect.” However, there are far fewer that aim to help you become a better investor by revealing that “much of what you think you know about yourself is inaccurate.” In this series of posts on the psychology of investing, I will take you through the journey of the biggest psychological flaws we suffer from that causes us to make dumb mistakes in investing. This series is part of a joint investor education initiative between Safal Niveshak and DSP Mutual Fund.

I have a friend from school who works at an MNC in Gurgaon. This is from around 2018. Every Friday night, his office colleagues would gather at the same bar. Alcohol followed, and by midnight, my intoxicated friend would swagger out of the bar and slip into the driver’s seat of his car to drive back home. It became routine.

As he told us, he knew he’d had too much, but he also knew something else: he always reached home safely. Not once had he been pulled over. Not once had he gotten into an accident. And so, when a few of us school friends, out of worry, tried to talk to him about the obvious danger of drinking and driving, he would wave us off with a grin and say, “Guys, relax. I’ve done this for years. I know what I’m doing.”

To him, the outcome of reaching home without incident justified the decision. Over and over again. Until one day, it didn’t.

[Read more…] about The Psychology of Investing #13: The Deception of a Good Outcome

Letter to A Young Investor #13: The Secret to Avoiding Costly Mistakes in Investing

A few quick updates from Safal Niveshak HQ:

Special Anniversary Discounts:
🎁 The Sketchbook of Wisdom & Boundless: Now available at discounted prices for a limited time:

🎁 Mastermind Value Investing membership: ₹3000 off for new members. Click here to join now.

🎁 Value Investing Almanack newsletter: ₹3000 off on the annual plan. Click here to join now.

Offline Value Investing Workshops in Bengaluru, Hyderabad, Mumbai:
Join me in-person for a day of deep learning, reflection, and conversations around value investing and life. Click here for details and registration.

Online Masterclass – The Art of Valuation:
A 3-hour live session on decoding intrinsic value and learning how great investors think about price vs. worth. Click here for details and registration.

I am writing this series of letters on the art of investing, addressed to a young investor, with the aim to provide timeless wisdom and practical advice that helped me when I was starting out. My goal is to help young investors navigate the complexities of the financial world, avoid misinformation, and harness the power of compounding by starting early with the right principles and actions. This series is part of a joint investor education initiative between Safal Niveshak and DSP Mutual Fund.

Dear Young Investor,

I hope this letter finds you well.

Let me start with a story. It’s about two remarkable athletes. You’ve probably heard of one. The other, maybe not.

Michael Phelps is regarded as one of the greatest Olympians of all time. With 23 Olympic gold medals, he redefined the world of swimming. With long arms, enormous wingspan, and an efficient dolphin kick, his body seemed designed for the water. For over a decade, Phelps was virtually untouchable in the pool.

[Read more…] about Letter to A Young Investor #13: The Secret to Avoiding Costly Mistakes in Investing

14 Years of Safal Niveshak: The One Question That Changed Everything

A few quick updates from Safal Niveshak HQ:

Special Anniversary Discounts:
🎁 The Sketchbook of Wisdom & Boundless: Now available at discounted prices for a limited time:

🎁 Mastermind Value Investing membership: ₹3000 off for new members. Click here to join now.

🎁 Value Investing Almanack newsletter: ₹3000 off on the annual plan. Click here to join now.

Offline Workshops:
Join me in-person (in Bengaluru, Hyderabad, or Mumbai) for a day of deep learning, reflection, and conversations around value investing and life. Click here for details and registration.

New Online Masterclass – The Art of Valuation:
A 3-hour live session on decoding intrinsic value and learning how great investors think about price vs. worth. Click here for details and registration.

Fourteen years ago, when I started Safal Niveshak, I didn’t really know what I was doing. Honestly, it was more of a heart decision than a head one. I didn’t have a business model or financial projections. I just knew I wanted to write, teach, and figure things out on my own terms.

But even without a plan, I was still wired like most people. And so, I kept wondering: “What will this get me?” How many readers? How much income? What sort of recognition? The truth is, I’ve spent many years chasing that question. Sometimes quietly, and sometimes desperately.

And that’s where I kept tripping. That one question, “What will this get me?” sounds harmless on the surface. But it creeps in and starts shaping every choice you make.

[Read more…] about 14 Years of Safal Niveshak: The One Question That Changed Everything

The Portfolio of the Mind

Offline Workshop: The Art of Value Investing

Join the Workshop

Online Masterclass: The Art of Valuation

Join the Masterclass

We’re told investing is about numbers. But anyone who’s spent a few years in the market knows the real game isn’t played on the screen. It’s played in your head.

In fact, experience has taught me every portfolio has two parts – the one in your demat account, and the one in your mind. And it’s often the second one that holds us back the most.

The numbers do matter. But what really decides whether you succeed or suffer is your inner weather, which includes your temperament, your emotions, your stubborn beliefs, and most dangerously, the baggage you carry in your mind.

[Read more…] about The Portfolio of the Mind

The Trap of Certainty

Admission Open for My Value Investing Workshops (Offline): I’m excited to announce admissions to my upcoming in-person value investing workshops in the following cities:

  • Bengaluru – Sunday, 13th July 2025
  • Hyderabad – Sunday, 27th July 2025
  • Mumbai – Sunday, 10th August 2025

Click here to know more and book your seat.

Seats are limited in each city. The first 20 participants can claim an early bird discount.

While working as an equity analyst a few years ago, I met a lot of company managements, especially in the small and midcap space.

Many of these meetings happened in modest offices, often tucked away in industrial pockets of cities like Delhi, Mumbai, and Coimbatore. I remember one company from Delhi vividly that I met sometime around 2006. It was a mid-sized construction company with government contracts across multiple states. The promoter was articulate and spoke with the kind of confidence that made you believe everything was under control.

[Read more…] about The Trap of Certainty