The Long Game with Vishal Khandelwal

In this episode of The Long Game, I sit down with Ian Cassel, founder of MicroCapClub, chief investment officer of Intelligent Fanatics Capital Management, and author of the new book Stock Picker, for a conversation that turned out to be far less about stocks than about the person doing the picking. We talk about why Ian believes no one starts investing with a blank slate, how to tell discipline apart from delusion, why most microcaps have to be sold within three years even when they're winning, what it actually costs to buy your own freedom, and the one trait he thinks separates good investors from great ones. This one is for anyone who has ever understood a company perfectly and still lost money on it. Ian's answer to why that happens is the reason I wanted to make this episode. *** My previous conversations with Ian: (2021) Ian Cassel on Microcap Investing, Dealing with Self-Doubt, and the Secret of Happiness: https://youtu.be/YGynCfzCxXo (2015) Microcap Investing, the Ian Cassel Way: https://www.safalniveshak.com/ian-cassel-microcap-investing/ Ian Cassel's key links: Stock Picker (new book): https://link.amazon/B0ivBrPPs Website - Microcapclub - https://microcapclub.com/ Twitter - https://x.com/iancassel Connect with me and Safal Niveshak: The Long Game (new book): https://www.safalniveshak.com/books/ Twitter - https://x.com/safalniveshak Subscribe to The Long Game for long-form conversations on investing, decision-making, and the art of thinking clearly over a lifetime. Disclaimer: This conversation is for educational purposes only and is not investment advice. Please do your own research or consult a registered advisor before making any investment decision. #IanCassel #StockPicker #Investing #MicrocapInvesting #MicroCapClub #ValueInvesting #StockMarket #TheLongGame #IntelligentFanatics #InvestingPodcast #StockPicking #VishalKhandelwal #SafalNiveshak

Two professional investors, Ankush Datar and Mihir Patki, spent years applying the same first principles to two very different games: building wealth and building health. In this conversation, we explore why the disciplines that make you a good investor, compounding, patience, playing the long game, focusing on what you control, are the very same ones that keep you healthy, and why so few of us manage to win both games at once. We get into the science and the fear behind lifestyle diseases, the role of luck versus skill, whether money can now buy health, India's strange paradox of rising demat accounts and falling health, and the small, boring, repeatable habits that actually compound over decades. Ankush Datar is a professional investor who currently manages money at PhillipCapital, and a long-time marathon runner and weightlifter. Mihir Patki has built careers across Deloitte, investment banking, and a startup he sold to ICICI Securities, and is the co-author, with Ankush, of The Health and Wealth Paradox.

👉 Get the book, The Health and Wealth Paradox: https://amzn.in/d/085zVjqq ***

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🎧 THE LONG GAME (formerly The One Percent Show) Slow conversations about the things that compound: money, health, relationships, and wisdom, hosted by Vishal Khandelwal of Safal Niveshak. Subscribe: https://www.youtube.com/@khandelwal.vishal

Website: https://www.safalniveshak.com/

Newsletter: https://www.safalniveshak.com/newsletter/

Twitter/X: https://x.com/safalniveshak

📚 My books (The Sketchbook of Wisdom, Boundless, The Long Game): https://www.safalniveshak.com/books/

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⚠️ DISCLAIMER This conversation is for educational and informational purposes only. Nothing in this video is investment, financial, medical, or health advice. The views expressed are the personal opinions of the host and guests. Please consult a qualified financial advisor and a licensed doctor before making any decisions related to your money or health. ***

#TheLongGame #HealthAndWealth #Investing #PersonalFinance #Longevity #Compounding #FinancialIndependence #ValueInvesting #HealthyLiving #VishalKhandelwal #AnkushDatar #MihirPatki #SafalNiveshak #IndianInvestors #WealthCreation

Vinod spent over thirty years in Indian markets. He was the India head of Morgan Stanley Investment Management in the 1990s, and since then has been investing his own capital, teaching, and thinking about markets in a way that very few people do. I recorded this conversation with him in August 2025 while working on the book.

Vinod talks about:

• Pain, patience, and intention as the three things you actually control in investing and in life.
• Why hard work has almost nothing to do with returns.
• Return on time mattering more than return on money.
• Reading people rather than spreadsheets.
• The age we live in — which, Vinod argues, is not an age of ignorance but an age of stupidity, and why that's actually a good thing if you know how to see it.
• The market as guru, as mirror, as sadhana.

It's one of the best conversations I've had on this show. I hope it finds you at a time when you can sit with it properly.

I talk to Jason Zweig, a personal finance columnist for The Wall Street Journal and the editor of Benjamin Graham's 'The Intelligent Investor'. Jason is also the author of 'Your Money and Your Brain', one of the first books to explore the neuroscience of investing, and 'The Devil's Financial Dictionary', a satirical glossary of Wall Street. Join me as I delve into Jason's mind, exploring the key lessons about becoming an intelligent investor, how to survive the stock market, why Ben Graham's ideas still matter, and much more.

#vishalkhandelwal #safalniveshak #valueinvesting #theonepercentshow #jasonzweig #bengraham

I talk to Leander Paes, the Indian tennis legend widely regarded as one of the greatest doubles players in tennis history. Join me as I delve into Leander's mind, exploring his remarkable journey over four decades to become a tennis legend, his philosophy on hard work, patience, and dealing with losses and failures, and his advice to the young generation on playing the long game.

#leanderpaes #vishalkhandelwal #safalniveshak #tennis #theonepercentshow

I talk to Kenneth Andrade, Founder and CIO of Old Bridge Capital Management and Old Bridge Asset Management. Kenneth has over 32 years of work experience in equity research and funds management, which includes a formidable track record managing some of India's most successful equity funds. Join me as I delve into Kenneth's mind, exploring his remarkable journey as a money manager, his philosophy on investing and life, and the wonderful lessons he has learned along the way on spotting great businesses, understanding market cycles, and playing the long game of investing.

#kennethandrade #vishalkhandelwal #safalniveshak #stockmarket #stockmarketinvesting #valueinvesting #indianmarket #theonepercentshow #stocks

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👉Subscribe to my newsletter 📃: https://www.safalniveshak.com/newsletter 📩

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I also publish my work on:

Website: https://www.safalniveshak.com/

Twitter: / safalniveshak

I talk to Bogumil Baranowski, a seasoned investor, insightful author, and a thought leader in the field of finance and investing. Bogumil is a published author of three books: Outsmarting the Crowd, Money, Life, Family, and Crisis Investing. He is also a Founder and Host of the popular investing podcast Talking Billions. In 2016, with three partners, he co-founded Sicart Associates, a boutique investment firm based in New York City, and later founded Blue Infinitas Capital. He is also a licensed private pilot, and when not reading, writing, and hosting podcasts, can be found sailing, surfing, and scuba diving around the world.

Join me as I delve into Bogumil's mind, exploring his remarkable journey, his philosophy on investing and life, and the wonderful lessons he has learned along the way. Whether you're an aspiring investor, a seasoned professional, or simply curious about the intersection of finance and personal development, Bogumil's story is sure to inspire and enlighten you.

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Subscribe to The One Percent Show on -

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USEFUL RESOURCES:

1. More about Bogumil -

a. Website - https://www.bogumilbaranowski.com/

b. Twitter - https://x.com/bogumil_nyc

c. Talking Billions podcast - https://www.talkingbillions.co/

- EP. 70: Vishal Khandelwal: The Sketchbook of Wisdom, A Hand-Crafted Manual on the Pursuit of Wealth and Good Life - https://www.talkingbillions.co/episodes/ep-70-vishal-khandelwal

d. Bogumil's books -

- Outsmarting the Crowd - https://amzn.to/3XGaJUR

- Money, Life, Family - https://amzn.to/45OHpxf

- Crisis Investing - https://amzn.to/3L32nPH

2. Modern-Day Asset Management Business w/ Anthony Deden - https://youtu.be/a4_U6bS-cU4?feature=shared

3. Book - One Up on Wall Street - https://amzn.to/3Lrb0nr

4. Book - The Alchemist - https://amzn.to/3xHJpLf

5. Do schools kill creativity? By Sir Ken Robinson - https://youtu.be/iG9CE55wbtY?feature=shared

6. Vishal on Twitter: https://x.com/safalniveshak

7. Vishal's Podcasts -

a. The Inner Game - https://www.safalniveshak.com/the-inner-game/

b. The One Percent Show - https://www.safalniveshak.com/the-one-percent-show/

8. Vishal's book - The Sketchbook of Wisdom (English) - https://book.safalniveshak.com/

9. Free newsletter on money, investing, decision-making, and life - https://www.safalniveshak.com/newsletter/

10. Online course on Value Investing - Mastermind - https://www.safalniveshak.com/mastermind/

I talk to Navneet Munot, MD and CEO of HDFC Mutual Fund. He is also the chairman of the Association of Mutual Funds in India or AMFI, which is the governing body of asset management companies in India. Navneet is a visionary voice who has not only shaped the landscape of investment in India over the years but also stands as a testament to the power of perseverance and insight. From humble beginnings, he has carved a path that many only dare to dream of, embodying the very essence of determination and foresight. His story is not just one of financial acumen but of inspiring a generation to look beyond the apparent and strive for long-term success. In this episode, he shares his insights, experiences, and vision for the future of #investing in India.

I talk to Shyam Sekhar, the Chief Ideator and Founder of iThought Financial Consulting, which he founded in 2008 and which provides financial planning and portfolio management services to investors. In this episode, Shyam talks about the importance of getting the right mentors and creating an investment philosophy, playing the long game, self-growth, #investing lessons from #entrepreneurship, and much more.

I talk to Rohit Chauhan, founder of RC Capital Management, and one of the first individuals in India to start a blog dedicated to serious investing way back in 2004. In this episode, Rohit talks about his best investing decision made 10 years back, reasons why compounding is so hard to practice, power of simplicity in life and investing, life's true riches that go beyond money, journaling, power of meditation, and much more.

Subscribe to The One Percent Show on -

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Google Podcasts - https://podcasts.google.com/feed/aHR0cHM6Ly92aXNoYWxraGFuZGVsd2FsLmxpYnN5bi5jb20vcnNz

Apple Podcasts - https://podcasts.apple.com/us/podcast/the-one-percent-show-with-vishal-khandelwal/id1572196422

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To know more about this initiative, check out: https://www.vishalkhandelwal.com/ and https://www.safalniveshak.com/

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To know more about my book - The Sketchbook of Wisdom - which Morgan Housel calls "a masterpiece," please visit - https://book.safalniveshak.com/