WTF is Finance
Claim This Podcastby Nikhil Kamath
Podcast Overview
<p>Nikhil Kamath explores global finance trends, macroeconomics, and business finance through in-depth conversations with friends, industry experts, and thought leaders.</p>
Language
🇺🇲
Publishing Since
9/4/2025
2 verified contact emails on file for WTF is Finance
Pitch yourself as a guest, propose sponsorships, or reach out directly to the host.
Recent Episodes
May 4, 2026
Howard Marks On Why Most Investors Lose, AI Bubbles & India | Nikhil Kamath | WTF is Finance
<p>I sat down with Howard Marks, the co-founder of Oaktree and the man who has been writing the memos every serious investor on earth opens first for over thirty years, and what was supposed to be a conversation about debt and cycles became a conversation about how anyone gets above-average at anything in a world where everyone smart is already trying. We covered why he picked bonds over stocks for an entire career and got rich doing the opposite of what everyone wanted to do, why the S&P returns 10% a year but almost never between 8 and 12, why he changed his mind on AI after a single conversation with Claude, what AI can't do that great investors still can, why he thinks India's biggest export business sits in the crosshairs of AI, and where the $10 bill nobody has picked up is hiding right now.</p><p><br></p><p>00:00 Introduction</p><p>02:05 From Queens to Wharton beginnings</p><p>08:10 Mujo and independence of events</p><p>15:17 Why cycles exist in markets</p><p>22:09 Pandemic, recessions, and recovery age</p><p>28:38 Where we are today</p><p>36:08 Drifting versus seeing the river</p><p>42:57 Oak Tree and accidental entrepreneurship</p><p>49:45 Why bonds over equities</p><p>57:14 Distressed bonds and excess returns</p><p>1:05:36 Beginning a new career today</p><p>1:12:42 Active management versus indexation</p><p>1:20:08 Learning from Andrew, second level thinking</p><p>1:27:25 How to become contrarian and better</p><p>1:34:28 Learning from history, final advice</p><p><br></p><p>#Nikhil Kamath Co-founder of Zerodha and Gruhas</p><p>Host of 'WTF is' & 'People By WTF' Podcast</p><ul><li>Twitter: <a href="https://x.com/nikhilkamathcio/" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204);">https://x.com/nikhilkamathcio/</a></li><li>Instagram: <a href="https://www.instagram.com/nikhilkamathcio/" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204);">https://www.instagram.com/nikhilkamathcio/</a></li><li>LinkedIn: <a href="https://www.linkedin.com/in/nikhilkamathcio/" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204);">https://www.linkedin.com/in/nikhilkamathcio/</a></li><li>Facebook: <a href="https://www.facebook.com/nikhilkamathcio/" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204);">https://www.facebook.com/nikhilkamathcio/</a></li></ul><p><br></p><p>#HowardMarks Co-founder and co-chairman of Oaktree Capital Management</p><ul><li>LinkedIn: <a href="https://www.linkedin.com/in/howardmarksbook/" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204);">https://www.linkedin.com/in/howardmarksbook/</a></li><li>Twitter: <a href="https://x.com/HowardMarksBook" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204);">https://x.com/HowardMarksBook</a></li></ul><p><br></p><p>Watch 'WTF is' Podcast on Spotify</p><p><a href="https://tinyurl.com/4nsm4ezn" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204);">https://tinyurl.com/4nsm4ezn</a></p><p><br></p><p>Watch 'People by WTF' Podcast on Spotify</p><p><a href="https://tinyurl.com/yme92c59" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204);">https://tinyurl.com/yme92c59</a></p><p><br></p><p>Watch 'WTF Online' on Spotify</p><p><a href="https://tinyurl.com/4tjua4th" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204);">https://tinyurl.com/4tjua4th</a></p><p><br></p><p>#WTFiswithnikhilkamath #PeopleByWTF #WTFOnline</p>
May 1, 2026
Howard Marks: "I Changed My Mind On AI" | Ep. Trailer | WTF is Finance
<p>Howard Marks runs the largest distressed debt firm in the world, has been writing the memos that Warren Buffett opens first for over thirty years, and just changed his mind on AI after a single conversation with Claude — we got into who's going to make the most money in investing over the next ten years, why he picked debt over equity for an entire career, why the S&P returns 10% on average but almost never between 8 and 12, and where the $10 bill nobody's picked up is sitting right now.</p><p>#nikhilkamath Co-founder of Zerodha and Gruhas</p><p>Host of 'WTF is' & 'People By WTF' Podcast</p><p>Twitter: <a href="https://x.com/nikhilkamathcio/" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204);">https://x.com/nikhilkamathcio/</a></p><p>Instagram: <a href="https://www.instagram.com/nikhilkamathcio/" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204);">https://www.instagram.com/nikhilkamathcio/</a></p><p>LinkedIn: <a href="https://www.linkedin.com/in/nikhilkamathcio?utm_source=share&utm_campaign=share_via&utm_content=profile&utm_medium=ios_app" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204);">https://www.linkedin.com/in/nikhilkamathcio?utm_source=share&utm_campaign=share_via&utm_content=profile&utm_medium=ios_app</a></p><p>Facebook: <a href="https://www.facebook.com/nikhilkamathcio/" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204);">https://www.facebook.com/nikhilkamathcio/</a></p><p>#HowardMarks Co-founder and co-chairman of Oaktree Capital Management</p><p>LinkedIN- <a href="https://www.linkedin.com/in/howardmarksbook/" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204);">https://www.linkedin.com/in/howardmarksbook/</a></p><p>Twitter - <a href="https://x.com/HowardMarksBook" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204);">https://x.com/HowardMarksBook</a></p><p>Watch 'WTF is' Podcast on Spotify</p><p><a href="https://tinyurl.com/4nsm4ezn" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204);">https://tinyurl.com/4nsm4ezn</a></p><p>Watch 'People by WTF' Podcast on Spotify</p><p><a href="https://tinyurl.com/yme92c59" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204);">https://tinyurl.com/yme92c59</a></p><p>Watch 'WTF Online' on Spotify</p><p><a href="https://tinyurl.com/4tjua4th" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204);">https://tinyurl.com/4tjua4th</a></p><p>#WTFiswithnikhilkamath #PeopleByWTF #WTFOnline</p>
December 20, 2025
WTF Is Wealth? Ray Dalio Breaks It Down w/ Nikhil Kamath | WTF is Finance Ep 2
<p>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. </p><p><br></p><p>00:00 – Ray Dalio’s early life & first exposure to markets </p><p>04:55 – Why early wins hook people into trading </p><p>07:20 – Leverage, futures & learning risk the hard way </p><p>08:45 – Nixon ending the gold standard & why it mattered </p><p>11:25 – What money really is (store value vs medium of exchange) </p><p>15:00 – The interest-rate trap: promises vs real money </p><p>18:00 – How Ray compares assets, liquidity & leverage </p><p>21:48 – Portfolio construction if you can’t beat the market </p><p>24:21 – Bitcoin, stablecoins & why Ray remains cautious </p><p>26:40 – What actually counts as a store of wealth (beyond gold & crypto) </p><p>28:41 – Real estate, taxation & why immovable assets are easy to tax </p><p>30:44 – Learning by proximity: the modern version of “being a caddy” </p><p>34:22 – Prediction markets: speculation vs hedging </p><p>36:02 – Wealth vs money: how bubbles are created </p><p>41:32 – The 5 big forces that drive economies & markets </p><p>45:39 – How young Indians should actually “play the money game” </p><p>50:00 – What makes a successful trader or investor psychologically </p><p>52:43 – Curiosity, cause–effect thinking & building an edge </p><p>55:00 – Ray Dalio on legacy, Community & passing knowledge forward </p><p>59:50 – Leadership lessons from China, UAE & global powers </p><p>1:05:02 – China vs US vs India: understanding the new world order</p><p><br></p><p>#NikhilKamath Entrepreneur & Investor Host of 'WTF is' & 'People By WTF' Podcast</p><ul><li>X: <a href="https://x.com/nikhilkamathcio/" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204);">https://x.com/nikhilkamathcio/</a> </li><li>Instagram: <a href="https://www.instagram.com/nikhilkamathcio/" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204);">https://www.instagram.com/nikhilkamathcio/</a> </li><li>LinkedIn: <a href="https://www.linkedin.com/in/nikhilkamathcio?utm_source=share&utm_campaign=share_via&utm_content=profile&utm_medium=ios_app" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204);">https://www.linkedin.com/in/nikhilkamathcio?utm_source=share&utm_campaign=share_via&utm_content=profile&utm_medium=ios_app</a> </li><li>Facebook: <a href="https://www.facebook.com/nikhilkamathcio/" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204);">https://www.facebook.com/nikhilkamathcio/</a> </li></ul><p><br></p><p>#RayDalio American Hedge Fund Manager</p><ul><li>X: <a href="https://x.com/raydalio" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204);">https://x.com/raydalio</a> </li><li>Instagram: <a href="https://www.instagram.com/raydalio/" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204);">https://www.instagram.com/raydalio/</a> </li><li>Linkedin: <a href="https://www.linkedin.com/in/raydalio" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204);">https://www.linkedin.com/in/raydalio</a> </li><li>Facebook: <a href="https://www.facebook.com/raydalio/" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204);">https://www.facebook.com/raydalio/</a> </li></ul><p><br></p><p>Watch 'WTF is' Podcast on Spotify <a href="https://open.spotify.com/show/5T1uhRS." rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204);">https://open.spotify.com/show/5T1uhRS.</a>..</p><p>Watch 'People by WTF' Podcast on Spotify <a href="https://open.spotify.com/show/435Ybgm." rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204);">https://open.spotify.com/show/435Ybgm.</a>..</p><p>Watch 'WTF Online' on Spotify <a href="https://open.spotify.com/show/3BQFvdH." rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204);">https://open.spotify.com/show/3BQFvdH.</a>.. </p><p><br></p><p>#PeopleByWTF #WTFOnline</p>
5 total episodes available
Similar Podcasts
Discover related shows you might enjoy
The Daily Brief
Zerodha
Moneycontrol Podcast
moneycontrol
Finshots Daily
Finshots
Daybreak
The Ken
The Morning Brief
The Economic Times
ThePrint
ThePrint
In Good Company with Nicolai Tangen
Norges Bank Investment Management
Invest Like the Best with Patrick O'Shaughnessy
Colossus | Investing & Business Podcasts
Naval
Naval
Behind the Balance Sheet
Stephen Clapham's Podcast on Value Investing | Stockmarket Analysis | Equities
a16z Podcast
Andreessen Horowitz
The Memo by Howard Marks
Oaktree Capital Management
The Master Investor Podcast with Wilfred Frost
Paradine Productions
All-In with Chamath, Jason, Sacks & Friedberg
All-In Podcast, LLC
We Study Billionaires - The Investor’s Podcast Network
The Investor's Podcast Network
Deep-dive analytics for WTF is Finance
Frequently asked questions
Have a different question and can't find the answer you're looking for? Reach out to our support team by sending us an email and we'll get back to you as soon as we can.
- What is WTF is Finance?
<p>Nikhil Kamath explores global finance trends, macroeconomics, and business finance through in-depth conversations with friends, industry experts, and thought leaders.</p> - How often does this podcast release new episodes?
This podcast updates daily.
- Where can I listen to this podcast?
This podcast is available on 4 platforms including Apple Podcasts, Spotify, and more. You can also use the RSS feed directly.
- Does this podcast accept guests?
Information about guest appearances is not available.
Legal Disclaimer
Pod Engine is not affiliated with, endorsed by, or officially connected with any of the podcasts displayed on this platform. We operate independently as a podcast discovery and analytics service.
All podcast artwork, thumbnails, and content displayed on this page are the property of their respective owners and are protected by applicable copyright laws. This includes, but is not limited to, podcast cover art, episode artwork, show descriptions, episode titles, transcripts, audio snippets, and any other content originating from the podcast creators or their licensors.
We display this content under fair use principles and/or implied license for the purpose of podcast discovery, information, and commentary. We make no claim of ownership over any podcast content, artwork, or related materials shown on this platform. All trademarks, service marks, and trade names are the property of their respective owners.
While we strive to ensure all content usage is properly authorized, if you are a rights holder and believe your content is being used inappropriately or without proper authorization, please contact us immediately at hey@podengine.ai for prompt review and appropriate action, which may include content removal or proper attribution.
By accessing and using this platform, you acknowledge and agree to respect all applicable copyright laws and intellectual property rights of content owners. Any unauthorized reproduction, distribution, or commercial use of the content displayed on this platform is strictly prohibited.