Ninad Kunder majored in finance and after a brief stint in the corporate world, moved on to entrepreneurship. He currently runs a venture in the HR staffing space and manages family money. Shuffling between these two hats has helped him both in business and value investing.
Safal Niveshak (SN): How did you get into value investing, and how has your process evolved over the years?
Ninad Kunder (NK): Lottery tickets! That’s what the 10 buck equity IPOs were like, when I started dabbling into investing in my engineering days. Those early years I tracked the markets without any framework or thought process.
Luckily I didn’t lose too much money because we were a growing economy in which it didn’t take too much intelligence to stay afloat, if one didn’t indulge in stupidity. Guess my innate conservative self kept me away from stupidity which helped me survive. It’s really in 2006 that I encountered Charlie Munger, Prof Bakshi’s blog and other value investing resources. It was a eureka moment and there has been no looking back since.
SN: Great! So how has your investment process evolved over these years? I mean, like many value investors who start with a Grahamian (cheap stocks) approach, did you also begin that way? Or was it a Fisher kind of approach of sticking only to high quality businesses? Please take us through the evolution of your investment process over these years.
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