BRICS Surpasses G7: Is the world order changing? | Ft. Manish Chokhani | 1 Finance Magazine

BRICS nations now account for 35% of global GDP, surpassing the G7’s 30%. In a world where economic power is shifting, how should investors think about value, cycles and opportunity?

In this episode, Manish Chokhani, Director of Enam Holdings, shares lessons from decades in markets on building conviction, selecting great managers and navigating structural change.

Here’s what we covered:
1️⃣ Why investing as a business vs. investing as a profession are entirely different games
2️⃣ The discipline of value investing: buying in bear markets, holding in bull markets
3️⃣ The BRICS vs. G7 power shift, China’s lead in technology and what this means for global capital flows
4️⃣ Why good managers matter more than just good businesses and how to identify them

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Timestamp:
00:00 Introduction
01:11 How did your journey in finance begin, from education to key career milestones?
09:29 How do you select stocks today when most are trading at historically higher valuations?
12:05 What was the maximum percentage of cash you were sitting on during market corrections?
17:29 How do you look at tech-first companies vs traditional businesses?
21:16 Have you invested in any new-age businesses over the last 3-5 years?
27:09 How does Enam leverage quantitative analysis in investing?
31:34 Key checklist pointers for selecting good managers to invest behind
35:28 How do you view gold as an asset class?
41:59 What is your view on China as an investable economy?
44:15 Which sectors within infrastructure will benefit from India’s planned investments?
47:00 Which sectors are you currently bullish on?
50:31 Do you invest in equities outside India?
52:57 BRICS vs G7, and is the US dollar hegemony ending?
57:36 How do the partners at Enam approach decision-making?
58:41 Why doesn't Manish manage public money?
01:02:42 Outlook on the fee-only advisory ecosystem in India
01:05:58 Advice for financial advisors in today’s ecosystem
01:07:37 Closing thoughts