The COMPLETE 2025 Investment Guide! | Ft. Sankaran Naren | KwK

In this high-value episode, Kushal Lodha sits down with S. Naren, the legendary investor and Chief Investment Officer at ICICI Prudential. With over ₹8.5 lakh crores under management, Naren opens up about his early investing journey, best and worst investment decisions, and why past returns can be the biggest trap for retail investors.

We cover the power of contrarian thinking, the importance of macroeconomic awareness, and the misunderstood role of cycles in investing. From deploying ₹10,000 Cr during the 2020 crash to warning about overhyped asset classes in 2025—this is a masterclass in long-term wealth building.
Watch till the end for Naren’s book recommendations, lessons from Howard Marks & Buffett, and why investing should be taken as seriously as education.

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Timestamps:
0:00 – Introduction
2:02 – How He Entered the Investment World
4:20 – Why He’s Obsessed With Numbers
5:37 – His Best and Worst Investments Ever
9:40 – What Went Wrong With Tea Industry?
12:18 – Key Factors Before Choosing Any Stock
14:13 – Strong Investment Framework You Must Follow
16:43 – How to Judge Company Management
19:37 – Mastering the Art of Market Cycles
26:12 – Should You Invest in Gold or Silver?
31:32 – How to Think Like a Contrarian
34:43 – Ideal Asset Allocation for Investors
36:10 – Is Real Estate Still Worth It?
39:10 – Must-Know Mutual Fund Investment Checklist
41:23 – Crucial Factors Before Investing Anywhere
42:57 – How Harvard Shaped His Thinking
44:38 – Top Investors He Admires Deeply
49:26 – Client Story
51:08 – Money Management Principles They Live By
51:50 – Sectors He’s Bullish On in 2025
52:34 – India’s Market and Growth Potential
54:23 – Best Asset Classes to Invest In
55:35 – How His Relationship With Money Changed
58:19 – Top 3 Investment Books To Read
59:05 – Where He Gets His Knowledge From
1:01:25 – The Biggest Turning Point in His Life
1:05:26 – Learnings From Countries Around the World
1:06:50 – Final Question


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