Investing Masterclass @IOC 6.0: Fear vs. Opportunity – Vijay Kedia’s investing philosophy for uncertain times

Few understand this better than veteran investor Vijay Kedia of Kedia Securities, who has navigated multiple market cycles and emerged as one of India’s most respected investors.

Speaking on the sidelines of IOC 6.0 in Surat – traders’ ‘Mahakumbh’ – Vijay Kedia, one of India’s most seasoned investors, believes that bear markets are the real teachers, shaping those who survive into sharper, more resilient market participants.

The Illusion of Bull Markets

The Nifty50, which touched a record high of 26,277 in September 2024, has fallen over 11% since then. Many investors, lured by the euphoria of the bull run, are now searching for a bottom. But as history has shown, markets do not reward short-term optimism—they reward patience, conviction, and an ability to thrive in adversity.

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Kedia puts it bluntly:

“Bull markets create stupid investors.

Stupid investors create bear markets.

Bear markets create smart investors.

Smart investors create bull markets.”

During euphoric market phases, investors often chase momentum, disregarding valuation and fundamentals.Yet, when the tide turns, fear grips the market, and many who entered in a frenzy exit in despair. But those who survive, those who stay invested, and those who learn emerge stronger.

The Power of a Single Idea

Vijay Kedia’s investing philosophy is simple yet profound:

“One leader can change your country.

One idea can change your world.

One mentor can change your mindset.

One lesson can change your approach.

One opportunity can change your career.

One bull market can change your net worth.

One stock can change your life.”

Great investment ideas don’t emerge in a bull market. They are often born in the depths of uncertainty—when stocks are undervalued, sentiment is negative, and risk seems unbearable. But it is precisely in these moments that life-changing investment opportunities present themselves.

History is filled with examples of companies that were ignored during bear markets but later turned into multi-baggers.

Kedia himself has built a net worth of over Rs 1,410 crore by holding stakes in companies like Vaibhav Global, Global Vectra, Tejas Networks, and Atul Auto, Trendlyne data showed.

These are shares held by Vijay Kishanlal Kedia as per the shareholding data filed with the exchanges, data showed. However, the actual portfolio could be veryt different.

These were not overnight success stories—they were the result of patience, conviction, and an ability to think long-term.

The Reality of Investing: A Business, Not a Casino

Many enter the stock market with dreams of quick riches, only to leave disillusioned when the tide turns. But according to Kedia, the stock market is not a casino—it is a business. And like any business, it requires knowledge, discipline, and mental strength.

“Your mental capacity is more important than your financial capacity,” Kedia advises.

To truly succeed in investing, one must embrace market downturns rather than fear them. Bear markets are not the enemy—they are the biggest teachers.

• They separate speculators from investors.

• They force investors to think long-term.

• They provide opportunities to buy great businesses at a discount.

Yet, despite the challenges, the stock market remains a blessed business.

Making Money the Hard Way

“The stock market is the easiest place to make money in the hardest way,” says Kedia.

While it may seem simple to buy stocks and hold them, the real challenge lies in staying the course. Fear, greed, impatience, and external noise often push investors to make the wrong decisions.

The key is to treat investing like a journey, not a gamble. It’s about developing a mindset that thrives in uncertainty, embraces learning, and values discipline over speculation.

So, as the Nifty50 corrects and investors search for direction, the real question isn’t “Where is the bottom?” but rather, “What lessons can I learn from this phase?”

Because those who learn, adapt, and stay the course will be the ones shaping the next bull market.

(Note: The journalist was invited to the event)

(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)