Divyam

Doin it for the plot | Founder @EquiDrift61 | Investor | Ex @JPMorgan

[Divyam @BahetiDivyam]

Building the future of AI-powered investing in India.

For intelligent investors, SEBI RAs, or wealth professionals, consider joining the EquiDrift61 early access waitlist at https://t.co/CNBdB061cq.

A study by Axis Mutual Fund examined Indian equity fund investors from 2003 to 2022, revealing a significant disparity in outcomes:

- Two investors, same mutual fund, same 20-year period.
- One ends with ₹3.2 crore, while the other ends with ₹1.3 crore.

The funds generated a 19.1% CAGR, but the average investor earned only 13.8% CAGR. This 5.3% annual difference is known as the behaviour gap, driven by human decisions such as:
• Buying after markets have rallied.
• Selling during corrections.
• Chasing yesterday's winners.
• Reacting to headlines instead of following a process.

One striking example from the study shows a fund delivering nearly 40% returns over three years, yet the average investor earned only 20% because almost 75% of inflows arrived during the final year, after most gains had occurred.

This pattern also appears in direct equity investing. Research indicates that individual investors often underperform due to reactive behavior rather than adhering to disciplined investment frameworks. The most active traders tend to perform the worst.

The hidden costs extend beyond returns—brokerage, taxes, slippage, and interrupted compounding can quietly erode long-term wealth. Over a decade, these small decisions can lead to differences of crores.

The market isn't always the biggest challenge; our behaviour often is. Professional investors rely on structured research, disciplined risk management, and repeatable decision-making systems.

EquiDrift61 aims to close this gap by providing institutional-grade research and portfolio intelligence to serious individual investors.

Sources: Axis Mutual Fund Behaviour Gap Study (2003–2022), Dalbar/J.P. Morgan QAIB, and peer-reviewed research on retail investor performance.

[Divyam @BahetiDivyam]

Just a random Saturday morning (with AI agents running in the background).

[Teng Yan @tengyanAI]

something i've noticed: AI agents create a weird new kind of burnout. esp for young people.

a lot of ambitious 22 year olds are going to think the answer is simple:
- spin up more agents
- ship more code
- sleep less
- outwork everyone

and for a while, it will feel incredible.
you can keep multiple agents running, feed them tasks, review outputs, fix mistakes, make decisions, and keep the whole loop moving.

the problem is that the work no longer drains you through typing. it drains you through judgment.
More attention.
More context switching.
More verification.
More decisions per hour.

so instead of 8-10 normal productive hours, you might get 4-5 extremely intense hours before your brain is fully cooked. and you feel numb until you sleep properly and reset

some of my friends are already burnt out. they don't say it out loud but i can tell.

the agent can keep working 24/7.
the human still has a hard limit

[Nithin Kamath @Nithin0dha]

I'll admit this might sound odd coming from me, maybe even clichéd. But it's something I've been sitting with for a while, so here goes.

When I started out, like most people, I had a simple wealth goal. I'd actually written it down: hit ₹5 crore, retire in Goa, beach shack, done. That was the dream.

After the Zerodha journey, I find myself on a very different side of that equation, and the dark inequalities of wealth and opportunity are harder to ignore than ever. We all know the numbers on inequality. The concentration of wealth among the top 1% is severe and getting worse, and it's even starker among the top 0.1%. The post-2008 era of rising asset prices has likely made this worse, because the people who hold financial assets are, by definition, people who already have money.

This isn't unique to India. Barring a few exceptions, it's a global phenomenon.

I'm cautious about attributing every socio-political problem we face today to inequality, but it's hard to deny the role it's played in the political upheavals we're seeing across the world. History rarely shows that sustained, extreme inequality ends well. To me, it increasingly feels like sitting in a car with the brakes cut, watching a cliff approach. Btw, all of this even before AI, which has a non-trivial probability of making things worse.

I'll stop short of prescribing solutions. It's too easy to reach for simple answers to complicated problems, and that's a separate conversation entirely. But I think we need to collectively acknowledge this: wealth that just sits in financial assets whose value keeps compounding upward doesn't do much good for anyone beyond those who already have it. And if that wealth isn't in motion, if it isn't doing some social good, the fabric that holds us together will only continue to fray and lead to cynicism, resentment, and worse yet, nihilism. We're already seeing all of it.

What I am saying is that even if a portion of that wealth were channelled into things that could materially improve lives, that seems worth doing. Hoarding wealth, in the grand scheme of things, doesn't really help anyone.

[Divyam @BahetiDivyam]

Nice place to cowork in blr
The Craftery By Subko