Bharat Shah

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
https://www.bqprime.com/markets/ask-investments-bharat-shah-says-covid-19-will-improve-india-incs-capital-efficiency

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