FLAME INVESTMENT LAB

The Epicentre of Value Investing in India

Mr. Bharat Shah is qualifies rank-holding Chartered Accountant, Cost Accountant and MBA (Finance) from IIM Calcutta, having topped his class in Finance. Mr. Shah has nearly 25 years experience in Indian capital markets with deep interface with the corporate world. He represents comprehensive insights in Indian capital markets (equity and fixed income) with strong emphasis on bottom-up investment philosophy. He has a considerable understanding of global businesses and stock picking is a special strength. The investment philosophy emphasizes buying quality businesses enjoying superior growth but at reasonable valuations.

As Director / Partner of ASK Group, he provides strategic guidance and support to the CEOs in managing their respective businesses but is intimately involved with, and supervises, the Investment management business of the Group (the other three businesses of the Group are Real Estate, Wealth Advisory and Private Equity). He is deeply passionate about Investing and all things that go with it. In 2013, he authored a book entitled “Of Long-Term Value & Wealth Creation from Equity Investing: Observation, Ideas and Reflection”.  


Interviews and Articles

Best buys worst picks
https://www.outlookbusiness.com/specials/best-buys-worst-picks_2017/bharat-shah-3843

‘A good bull-run in the market takes place slowly and steadily’, says Bharat Shah, Executive Director, ASK Group
https://www.freepressjournal.in/business/longest-bull-market-for-india

Equity has the greatest potential to create wealth: Bharat Shah, ASK Group
https://economictimes.indiatimes.com/wealth/personal-finance-news/equity-has-the-greatest-potential-to-create-wealth-bharat-shah-ask-group/articleshow/62390365.cms

Coffee Can Investing | Bharat Shah delves deep into the Science, Math and English of investing
https://www.moneycontrol.com/news/business/markets/coffee-can-investing-bharat-shah-delves-deep-into-the-science-math-and-english-of-investing-3008931.html

Capital Ideas

Bharat Shah on his investment philosophy
http://www.morningstar.in/posts/38337/bharat-shah.aspx

Investing is practice of bottom-up stock-picking
http://economictimes.indiatimes.com/markets/stocks/news/investing-is-practice-of-bottom-up-stock-picking/articleshow/54324763.cms

The Buffet of Bombay:
http://dailyreckoning.com/the-buffett-of-bombay/

Look for quality, not cheap valuations, for long-term success:
Investors must always look for quality management and businesses, superior return on capital employed and predictable sustainable growth, says Bharat Shah, CEO & Managing Partner, ASK Investment Managers. 
http://articles.economictimes.indiatimes.com/2012-08-23/news/33342415_1_bharat-shah-valuations-quality-businesses

You don’t buy markets, you buy individual stocks
ASK Group executive director Shah says the equity market is not a place for generalists
http://www.livemint.com/Money/pbcSoKLbTGUuD6xkAsvNGN/You-dont-buy-markets-you-buy-individual-stocks-Bharat-Sha.html

Simple and Valuable Ideas
Bharat Shah, Executive Director, ASK Group, dwells on value investing and how he formed his investment tenets
https://www.valueresearchonline.com/story/h2_storyview.asp?str=26143

How Bharat Shah picks his stocks
At the Morningstar Investment Conference 2014, Bharat Shah, Executive Director, ASK Group, shared his views in a panel discussion on value investing.
http://www.morningstar.in/posts/29504/how-bharat-shah-picks-his-stocks.aspx

The 'real' risk in equity
Risk lies neither in price 'volatility' nor in any fancy statistical descriptions. It lies in not knowing what one is doing
http://www.business-standard.com/article/pf/the-real-risk-in-equity-114031500766_1.html

Once You Have Clarity That Something Does Not Deserve Your Time...
In the first of a three-part interview, Bharat Shah of ASK group talks about why reading is an essential ingredient for investing
http://www.outlookbusiness.com/markets/interview/once-you-have-clarity-that-something-does-not-deserve-your-time-and-attention-be-ruthless-2011

If You Cannot Value A Business, Then Price Has No Meaning
In the second of a three-part interview, ASK group’s Bharat Shah elaborates on the investing lessons learnt over a 29-year-long career
http://www.outlookbusiness.com/markets/interview/if-you-cannot-value-a-business-then-price-has-no-meaning-2187

Price To Earnings Is A Rubbish Way Of Computing Value
In the final installment, ASK group’s Bharat Shah explains why using P/E to derive value is plain stupid
http://www.outlookbusiness.com/markets/interview/price-to-earnings-is-a-rubbish-way-of-computing-value-2186

Discipline is the Key
Bharat Shah, Executive Director, ASK Group, shares his views on the current state of Indian markets with a new government in place
https://www.valueresearchonline.com/story/h2_storyview.asp?str=26139

Slideshow –Wealth wizards on the art of investing:
http://forbesindia.com/aperture/slideshow/wealth-wizards-on-the-art-of-investing/38214/18

No Asset Class can Match Equity's Long-term Returns:
In conversation with Chirag Madia, Mr. Shah shares his views and experience.
https://www.valueresearchonline.com/story/h2_storyview.asp?str=26117


Books

Of Long-Term Value & Wealth Creation from Equity Investing: Observation, Ideas and Reflection


Videos

Know Your Investment Guru- Bharat Shah, ASK Group in conversation with Ashish Shanker

Ask Group's Bharat Shah on markets

Wisdom Series - Mr. Bharat Shah, Executive Director ASK Group

Market Makers with Mr. Bharat Shah ED, ASK Group on ET Now

Mr. Bharat Shah the veteran in the equity markets discusses long term investing in equity markets

Quality business continue to outperform

 

Crude prices critical for economy

 

Equity Upsurge: Here & Now or Here to Say! – A panel discussion organized by ASK Wealth Advisors
The panel comprising of Mr. Bharat Shah, Executive Director, ASK Group, Mr. Prashant Jain, Executive Director & Chief Investment Officer, HDFC Asset Management Company Ltd, Mr. Madhu Kela,Chief Investment Strategist, Reliance Capital Limited and Mr. Raamdeo Agrawal, Co-founder and Joint Managing Director, Motilal Oswal Financial Services Ltd discussing Outlook of Equity markets in India in coming years

 

ASK Wealth Advisors - India Equities - Road Ahead...
A panel discussion on Indian Equity Markets conducted by ASK Wealth Advisors featuring Mr. Bharat Shah, ED, ASK Group, Mr. Madhusudan Kela, Chief Investment Strategist, Reliance Capital, Mr. Raamdeo Agrawal, Co-founder and MD, Motilal Oswal Financial Services moderated by Nikunj Dalmia.