How Fund Managers Think & Plan their Investing Strategy & Process with Dinshaw Irani

Dinshaw Irani, who has over 30 years of experience. Irani shares his journey in the market, starting from his early days in Delhi where he worked on financial projections for the World Bank, to his move to Bombay to pursue a career in financial journalism. He then discusses his dissatisfaction with the basic research being conducted at the time and the opportunity he saw to start a boutique equity research firm. Throughout the conversation, Dinshaw Irani reflects on the long journey of the Indian market and the importance of data-driven analysis.

Irani discusses his entry into the world of financial research and entrepreneurship. In the early 1990s, he started an independent research firm with a team of analysts, producing worksheets and analyzing companies' annual reports. At that time, research was rudimentary, and there was no Excel or digital tools, making the process cumbersome.

Irani also emphasizes the value of experience and having a unique perspective, using the example of his investment in Bharti Airtel during its early days and later avoiding it due to competition and decreasing returns. He also mentions how he stayed away from the company until Jio entered the market and changed the game. Overall, Irani's strategy involves identifying themes and participating to a certain extent while avoiding risky stocks during market corrections.

Irani also mentions that he spends a significant amount of time conducting research and analysis on potential investments, and that he is always looking for opportunities to add value for his clients. Additionally, he emphasizes the importance of staying disciplined and sticking to one's investment process, even during market volatility or uncertainty. Overall, Irani stresses the importance of a well-thought-out and consistent approach to investing.