Andrei Stetsenko, partner at Farley Capital, joins Forward Guidance to share insights from his experience investing in India. Stetsenko, who works with Jack’s father, argues that India’s economy is being turbocharged by exceptionally favorable demographics, accelerating urbanization, and growing infrastructure. He explains why he believes India’s stock market contains high-growth, high-quality companies that may trade at much cheaper valuations than a similarly positioned company in the U.S. He argues why he thinks short-term thinking is the most common mistake investors make, and shares his thoughts on several industries such as payments, banking, and airlines. Filmed on December 21, 2023.
Andrei Stetsenko’s blog, Dispatches From India: https://www.dispatchesfromindia.com/
Andrei Stetsenko on LinkedIn: https://www.linkedin.com/in/astetsen
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Timestamps:
00:00 Introduction
00:31 How Farley Capital Got Started Investing In India
08:50 The Indian Stock Market Vs. American Stock Market
15:15 India's Banking System
18:05 Company Management In India
20:00 Adani Allegations (Hindenburg Research)
24:11 Red Flags To Avoid
26:41 Valuations In The Indian Stock Market
30:12 You Won't Get Far In The Indian Market Without Profit
35:03 Margin Of Safety
39:01 Macro And Discount Rate
41:06 The Payments Industry
46:18 The Credit Card and Buy Now Pay Later Industries
50:13 The U.S. Banking Industry
51:26 Importance of Tuning the Noise Out
55:14 Most Common Mistake In Investing
01:01:47 China
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Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.
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