Nikhil Kamath explores global finance trends, macroeconomics, and business finance through in-depth conversations with friends, industry experts, and thought leaders.
Nikhil Kamath explores global finance trends, macroeconomics, and business finance through in-depth conversations with friends, industry experts, and thought leaders.
Wealth can be created easily — but that doesn’t mean it’s real. In WTF is Finance, Ray Dalio explains how money actually works, why asset bubbles form, and how investors should build portfolios that survive cycles, debt, and political change.
00:00 – Ray Dalio’s early life & first exposure to markets
04:55 – Why early wins hook people into trading
07:20 – Leverage, futures & learning risk the hard way
08:45 – Nixon ending the gold standard & why it mattered
11:25 – What money really is (store value vs medium of exchange)
15:00 – The interest-rate trap: promises vs real money
18:00 – How Ray compares assets, liquidity & leverage
24:20 – Portfolio construction if you *can’t beat the market*
29:25 – Bitcoin, stablecoins & why Ray remains cautious
33:00 – What actually counts as a store of wealth (beyond gold & crypto)
34:58 – Real estate, taxation & why immovable assets are easy to tax
37:12 – Learning by proximity: the modern version of “being a caddy”
40:42 – Prediction markets: speculation vs hedging
42:08 – Wealth vs money: how bubbles are created
47:56 – The 5 big forces that drive economies & markets
51:58 – How young Indians should actually “play the money game”
55:37 – What makes a successful trader or investor psychologically
59:00 – Curiosity, cause–effect thinking & building an edge
1:02:20 – Ray Dalio on legacy, mentorship & passing knowledge forward
1:06:10 – What makes a successful society (community, education, peace)
1:09:10 – Leadership lessons from China, UAE & global powers
1:11:10 – China vs US vs India: understanding the new world order
1:15:46 – Technology wars & why India is well positioned
1:20:00 – Ray Dalio’s advice if you’re 25 with $100
#NikhilKamath Entrepreneur & Investor Host of 'WTF is' & 'People By WTF' Podcast
#RayDalio American Hedge Fund Manager
Watch 'WTF is' Podcast on Spotify https://open.spotify.com/show/5T1uhRS...
Watch 'People by WTF' Podcast on Spotify https://open.spotify.com/show/435Ybgm...
Watch 'WTF Online' on Spotify https://open.spotify.com/show/3BQFvdH...
#PeopleByWTF #WTFOnline
Wealth can be created easily. But is it actually real? A conversation on money, investing, and the mechanics that quietly shape global markets with Ray Dalio. Coming Soon! #NikhilKamath Entrepreneur & Investor Host of 'WTF is' & 'People By WTF' Podcast X: https://x.com/nikhilkamathcio/
American Hedge Fund Manager
Watch 'WTF is' Podcast on Spotify https://open.spotify.com/show/5T1uhRS... Watch 'People by WTF' Podcast on Spotify https://open.spotify.com/show/435Ybgm... Watch 'WTF Online' on Spotify https://open.spotify.com/show/3BQFvdH... #PeopleByWTF #WTFOnline
Ruchir Sharma thinks America’s peak is over. In this episode, I sat down with the author, investor and economist to discuss the forces shaping the world’s economy, where India fits in the new world order, and all things geopolitics.
Timestamps:
00:00 - Intro
2:45 - Early life & formative years
6:50 - What India can learn from Singapore & China’s models
11:33 - Premature welfare state: growth or mistake?
17:47 - Social mobility, elections & incumbency
27:06 - Does meritocracy create inequality?
31:29 - Why govt. bailouts hurt the private sector
33:50 - Regulation, crypto & blockchain
44:06 - Tariffs & free trade
49:12 - Affordable housing & property taxes
56:55 - Does India need a dogecoin?
1:02:00 - State vs. central govt. in India
1:09:07 - Putting corruption into perspective
1:15:03 - UBI & AI’s potential
1:25:37 - Interaction with Putin
1:32:35 - Journalism, free speech & media ethics
1:41:43 - Short selling: risks & rewards
1:43:47 - How Ruchir found his passion
1:53:26 - Validation & defining happiness
1:57:28 - FDI & how India can boost growth
2:06:44 - US: Superpower no more?
2:11:31 - Geopolitics: India, China & US
2:18:28 - American tech & patriotism
2:21:55 - Small cap boom & retail investors
2:30:56 - China today: politics & economics
2:37:26 - The thesis of American exceptionalism
2:40:28 - India’s 10 year playbook: wages vs. assets
2:48:35 - Private, public & emerging markets
2:52:48 - Tomorrow’s big trends
#NikhilKamath - Investor & Entrepreneur
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#RuchirSharma - Chairman of Rockefeller International and Founder and Chief Investment Officer of Breakout Capital
Website: https://ruchirsharma.com/