FLAME University


The Epicentre of Value Investing in India

Behavioural Economics
WITH Sanjay Bakshi

(Due to the ongoing COVID-19 situation, all dates may change)

July 28 – July 31, 2022


FLAME was founded with the concept of liberal education as its cornerstone. FLAME celebrates ideas, cherishes diversity, and strives to deliver an academic experience that fosters intellectual curiosity, a critical thought process, self-reflection, leadership and teamwork skills, a sense of commitment and professionalism and a heightened sensitivity to one’s sociocultural environment. FLAME aims to provide an interdisciplinary platform of education by propagating different models and paradigms through, but not limited to, history, philosophy, political sciences, psychology, business, economics, mathematics and finance.

As part of its endeavor to constantly redefine education, FLAME inducted the FLAME Investment Lab (FIL), an initiative that strives to deliver the concepts and decipher the art of value investing to interested students. FIL believes in the dictum “invest in yourself”. It provides tools for self-learning and acquiring knowledge, constantly striving for intellectual stimulation and asking questions. FIL strives to widen your horizons, aiding you to connect the dots within seemingly disparate information. FIL truly believes that the best investment is investing in yourself. As Socrates has said, “I cannot teach anybody anything. I can only make them think.”

After hosting multiple programs and FIL alumni meets that covered topics like valuation, accounting shenanigans, investment checklists, mental heuristics and negotiation amongst others, FIL is planning the ‘FLAME Investment Lab – Behavioural Economics’ program with Sanjay Bakshi, from July 28 – July 31, 2022.



Sanjay Bakshi

Sanjay Bakshi

Sanjay Bakshi recently joined FLAME University as Distinguished Adjunct Professor — Finance. Previously he was Adjunct Professor at Management Development Institute, Gurgaon. Sanjay has twenty five years of teaching experience. He is also Managing Partner at ValueQuest Capital LLP, a SEBI Registered Investment Adviser.

Sanjay received M.Sc. (Economics) from London School of Economics and Political Science and B.Com. (Hons.) from University of Delhi. He is also a Fellow member of the Institute of Chartered Accountants of India.

He is 56 years old and lives in New Delhi with his wife and two daughters.


Attending this program will help participants understand how various models from social psychology combine together to produce bad judgments in running a business, managing an investment portfolio, and also in life in general. Contrary to traditional finance courses based on the “rational man model” in economics, the instructor will use the “foolish man model” from social psychology and numerous examples from the history of human follies to help students overcome their own behavioral biases.

Additionally, this program will use case studies on a variety of business models which use key lessons from social psychology to obtain a competitive advantage and also create long-term value for stockholders.


Day 1: The Psychology of Human Misjudgment in Business - Part I

Day 2: The Psychology of Human Misjudgment in Business - Part II

Day 3: Analysis of Decisions in Business, Investing, and Life - Part I

Day 4: Analysis of Decisions in Business, Investing, and Life - Part II


This program is for curious, open-minded participants who have a deep interest in decision-making processes (especially in the field of business analysis and investing) and how to improve them. This interest will be evaluated in the application materials submitted by the participants. The program is not suitable for traders or for people looking for stock tips.


No stock tips will be given. The program is about developing the right thinking style to become more rational. While this has many useful applications and investing wisely is one of them, if you are contemplating attending this workshop to find ways to get rich quickly, then please do not apply as you will be disappointed.


  • INR 35,000 plus GST (INR 41,300) which includes tuition, course materials, meals and on campus accommodation.
  • Fee does not include travel and other incidental expenses.
  • Candidates need to submit the application form online and mail the payment to FLAME. Only cheques will be accepted as a payment method.
  • The cheque payment must reach FLAME by the application deadline. Kindly note, even if the application is submitted, but the payment does not reach FLAME by the application deadline, the application will be deemed incomplete and annulled.
  • Cheques should be made payable to ‘FLAME University’.
  • Cheque should be dated May 2, 2022. Candidates should write their name and the program they have applied for behind the cheque.
  • Cheques should be mailed to ‘FLAME University, Gat No. 1270, Lavale, Off. Pune Bangalore Highway, Pune - 412115, Maharashtra, India.

Refund policy

  • In the event that FLAME University is unable to provide the program, all fees will be fully refundable.
  • For selected candidates:
    • If request for cancellation is received before and upto July 7, 2022, 50% of the fee paid shall be refunded. GST on cancellation will be applicable.
    • If request for cancellation is received after July 7, 2022 but upto July 21, 2022, 25% of the fee paid shall be refunded. GST on cancellation will be applicable.
    • There will be no refund if cancellation is made on or after July 21, 2022.


To apply the applicant must complete the application form at: https://www.flame.edu.in/academics/flame-investment-lab/application-form.


Accommodation will be provided in an AC, single occupancy room to all participants at the FLAME campus in Pune for three nights of July 28, 29 and 30.


July 28 – July 31 2022


April 30, 2022


Confirmation emails will be sent to the selected participants by May 7, 2022.


FLAME University | Gat No. 1270, Lavale, Off. Pune Bangalore Highway, Pune - 412115, Maharashtra, India.


FLAME offers 60 acres of tranquil space, just 13 kms. from the Pune University main gate. It is an eco-friendly campus adjoining a 18-hole golf course. FLAME has an international sized cricket ground, football, tennis, basketball and volleyball courts, outdoor Olympic sized swimming pool, track and field, futsal and handball at their disposal. A fitness and conditioning studio, badminton courts, billiards tables, squash courts, table tennis, carrom and chess ensure that FLAME’s sports facilities are second to none.

Its academic spaces include lecture theatres, conference rooms, a library, a performing arts studio, a visual arts studio, a sculpture studio, Physics, Chemistry and Biology labs, and amphitheatres. Some of the other amenities include cafes, Wi-fi connectivity, an infirmary and an ambulance in case of emergency.

During the duration of the program, participants are encouraged to explore the campus and use the facilities FLAME offers.


Phone: +91 9657709882 (Text & Whatsapp only)
Toll-free No: 1-800-209-4567
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.flame.edu.in


Program Brochure


June 11 -  June 12, 2022
July 14 - July 17, 2022
July 22 - July 24, 2022