FLAME University


The Epicentre of Value Investing in India

Mr. Bharat Shah is currently the Executive Director of ASK Group. He is a qualified 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

RBI rate moves now less Fed dependent; bullish banks, insurance, cement, consumption: ASK’s Bharat Shah
https://www.moneycontrol.com/news/business/rbi-rate-moves-now-less-fed-dependent-bullish-banks-insurance-cement-consumption-asks-bharat-shah-10438951.html - Apr 19, 2023

5 stock investing insights from Bharat Shah
https://www.morningstar.in/posts/70314/5-stock-investing-insights-from-bharat-shah.aspx - Nov 10, 2022

The dharma and karma of investment, according to ASK's Bharat Shah
https://www.livemint.com/money/personal-finance/the-dharma-and-karma-of-investment-according-to-ask-s-bharat-shah-11666246809344.html - 21 Oct 2022

ASK Investment’s Bharat Shah Says Covid-19 Will Improve India Inc.’s Capital Efficiency

Best buys worst picks

‘A good bull-run in the market takes place slowly and steadily’, says Bharat Shah, Executive Director, ASK Group

Equity has the greatest potential to create wealth: Bharat Shah, ASK Group

Coffee Can Investing | Bharat Shah delves deep into the Science, Math and English of investing

Capital Ideas

Bharat Shah on his investment philosophy

Investing is practice of bottom-up stock-picking

The Buffet 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. 

You don’t buy markets, you buy individual stocks
ASK Group executive director Shah says the equity market is not a place for generalists

Simple and Valuable Ideas
Bharat Shah, Executive Director, ASK Group, dwells on value investing and how he formed his investment tenets

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.

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

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

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

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

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

Slideshow –Wealth wizards on the art of investing:

No Asset Class can Match Equity's Long-term Returns:
In conversation with Chirag Madia, Mr. Shah shares his views and experience.


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


Bharat Shah’s views on ASK Portfolio's performance in FY 2023

An Outlook on Indian Equity Markets and ASK Portfolios

CNBC Bajar - Outlook 2022

At the cusp of one of the greatest opportunities | For patient and long-term investors | Bharat Shah

The Portfolio Art | Bharat Shah

How should Investors deal with 2nd Wave I 5 Real Questions I PMS AIF WORLD Expert Talks

Mr. Bharat Shah, Executive Director, ASK Group in Conversation with Mr. Rahul Arora, CEO, NBIE

ETMIC virtual: Bharat Shah, ASK Group on value investing in times of liquidity overdose

A Tale of Seeming Paradox of Soft Economy and Energised Markets

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

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

ASK Wealth Advisors - India Equities - Road Ahead...