Stoic Podcast Series Ep.2 : Do’s and Don’ts of Moat Investing – Ankur Jain !!!

We would like to thank our listeners for an overwhelming response to the ‘Stoic Podcast series’.

We started this series with the interview of Gaurav Sud which was enjoyed by over 1.5k listeners and we received overwhelming feedback for the same.

Continuing our endeavor of profiling the hidden gems of investing, we are delighted to bring to you our next guest.

Ankur Jain

Today, we have with us, Ankur Jain. Ankur is my senior from MDI, Gurgaon. Ankur is a very disciplined and thorough moat investor. After studying the subject from Prof. Bakshi, he went on to work with him at Tactica Capital for almost a decade and is now an independent investor. It was refreshing to have his serene thoughts in a not-so-stoic market.

Do checkout his amazing blog. He doesn’t write much but when he does, each and every word is worth absorbing. Let’s listen to him now :

Also Streaming on (click on below images to redirect to Stoic Podcast channels),






 Show Notes:
  • Experience of entering the stock markets at Harshad Mehta time [2:00]
  • The inquisitiveness and curiosity to learn about business world [8:00]
  • How IT crash saved him [15:00]
  • His struggle to find his ‘Calling’ at MDI [17:00]
  • His initial brush with Practice vis-à-vis theory of what he studied in class [24:00]
  • Views on Cash allocation and how the cash allocation is decided now [35:00]
  • How much premium to pay for a quality company [38:35]
  • How to calculate the intrinsic value of a company [39:40]
  • How to evaluate an industry with an example of CERA Sanitary ware [41:00]
  • Inputs to be used in the valuation method [52:00]
  • His view on meeting management [1:27:00]
  • His successful investments so far [1:35:00]
  • His mantras for physical and mental health and productivity enhancements methods [1:38:40]

Notes and Books Referred


  1. Fantastic interview guys. Keep up the good work. I would encourage all listeners to leave a comment to encourage such good work. Cheers.

  2. Hi Puneet & Manish,

    Thanks a lot for conducting and sharing this wonderful podcast.

    Have followed some of the writings of Ankur and have loved his posts. This was a really wonderful talk and good to know about his journey, experiences and process.



    • Thanks, Ayush.

      Yes, it was a great experience for us too to have the detailed discussion with Ankur.
      He has a very structured thought process that is evident in his answers and his writings.


  3. This was a great podcast. Can you please interview Arpit Ranka? We’d all love to listen to him. We’ve heard nothing from him after he stopped writing on his great blog.

    • Thanks Sachin !
      Will try to get Arpit on board for this. Keep listening and enjoying !!!


  4. Very good insights from Mr. Ankur Jain. Nice initiative and work Puneet and Manish.

  5. Excellent Interview. It was a pleasure to meet Ankur at the Piramal Enterprises AGM in 2015. Was blow away by his humility..Spent around an hour with him and took away a lot of investing wisdom.

  6. Hi Puneet & Manish,

    wonderful podcast. thanks for sharing. Is there any way to get a direct download link to the recordings!


  7. Great podcasts guys! Keep it going! You guys are doing an incredible job.

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