₹8,000 Crores Fund Manager's Contrarian Bets: Google, ITC, Amazon & Netflix | Kushal Lodha #326

In this episode of Konversation with Kushal, Ramneek Kundra, Chief Investment Officer at DSP Pension Fund, breaks down how he thinks about long-term investing, valuation and market cycles through real examples. He explains why businesses like Google create massive consumer surplus and how monetisation naturally follows in “free” digital models. The conversation then moves into his real investing journeys, including buying companies early based on valuation, free cash flow potential and the ability of large businesses to experiment, fail and still compound over time. His approach emphasises understanding business models deeply rather than reacting to short-term narratives.Ramneek also explains how he evaluates stocks through free cash flow and intrinsic value, drawing on frameworks popularised by Benjamin Graham and Warren Buffett. Using case studies like ITC Limited, he shows how market pessimism, regulatory barriers and long-term optionality can create powerful investment opportunities. From understanding opportunity cost and valuation multiples to building conviction and thinking probabilistically about growth, this episode offers a practical masterclass on how serious investors evaluate businesses and think about compounding wealth over decades.💡 Don’t forget to like, share, and subscribe for more such insightful conversations with top achievers from across the world!#KushalLodha #InvestingWisdom #StockMarketIndia #WealthCreation #LongTermInvesting #FinancePodcast #InvestmentStrategy