CFA Society India Hosts the 4th Edition of Masters at Work in Kolkata

Investment professionals gathered to learn from leaders in the investment and wealth management space.

Kolkata: CFA Society India and CFA Institute, co-hosted the 4^th edition of Masters At Work in Kolkata, to learn from the leaders within the investment and wealth management space. Over 350 attendees gathered at the event last Saturday, where season professionals offered a deep dive into the investment management industry and strategies.

The event commenced with an address by Vinay Bagri, CFA, Volunteer, CFA Society India, who emphasized the importance of preserving wealth alongside creating it. He shared his insights on becoming a better investor and identifying the next big opportunities. Quoting Benjamin Franklin, he said, “An investment in knowledge pays the best interest.”

Sachin Naik, Director, Partnerships and Client Solutions, CFA Institute, India, further underscored the role of continuous upskilling in India’s rapidly growing economy, supported by the country’s demographic dividend and the digital age. He highlighted how CFA Institute remains committed to partnering with professionals to strengthen India’s financial landscape.

In the first session of the Summit, Vishal Nevatia, Managing Partner at True North, shared his journey in Private Equity since 1999. He recounted how the sector evolved from having just a handful of players to more than 400 by 2008, followed by massive consolidation after the Lehman crisis. He remarked, “If you haven’t faced significant misses in your investing journey, your bar for investing may be set too low.”

Next came the much-anticipated session, ‘Wit, Wisdom, and Winning Ways’, featuring Vinod Sethi, Former MD, Morgan Stanley and Sethi Capital Inc. and ably moderated by Ramesh Damani, Former Chairman of Avenue Supermarts Ltd. Vinod Sethi shared several thought-provoking observations about the investment world. He said, “As an investor, the fact that anyone is replaceable and that there is a functioning democracy, and a functioning opposition is a huge positive rerating for a market.” He underscored the importance of maintaining objectivity when making investment decisions. He went on to add that in the future, India’s GDP would contribute 30% to the global GDP.

The next speaker, Vijay Kedia, Private Investor, delivered an insightful session on ‘Knowledge, Courage, and Patience’. His advice to attendees was to “chase the story behind the company, not just the money on the table,” adding that while money makes you rich, it’s the story that makes you wealthy. He encouraged investors to focus on the long-term vision and narrative of the businesses they invest in.

The last session on ‘Gorilla to King Kong Investing’, was presented by Pankaj Tibrewal, Founder and CIO, IKIGAI Asset Manager. He emphasized the importance of avoiding big mistakes by following a process of elimination in stock selection, prioritizing book value growth over EPS growth. He highlighted the resurgence of quality and low-volatility stocks, leaving the audience with a key takeaway, “Practicing meditation and embracing one’s spiritual self is the most important attribute for an investor.”