Managing $600Million AUM |Ep14 The India Opportunity Podcast ft Devina Mehra | 30 Years of First Global & Investing in Public Markets
Fortune Magazine's Most Powerful Indian Woman in Business - Devina Mehra, who built First Global over the last 30 years and identified multibaggers such as HDFC, Amazon and Apple before anyone else
Hello everyone, welcome to The India Opportunity Podcast where you get a front-row seat to people building India’s future. We talk about unlocking the potential of the country with founders, investors, creators, and successful leaders from different fields to bring you real-life stories and behind-the-scenes of what it takes to be at the forefront of building the India Story.
The 14th episode of The India Opportunity Podcast is out now! You can watch it on Youtube or tune in on Spotify or Apple Podcasts.
Our guest today is Devina Mehra, Chairperson & Managing Director of First Global, a quantitative asset management firm. Devina launched First Global 30 years ago as a securities firm, evolved it into an investment bank and now is a leading asset management firm with a global lens. First Global was the first Asian firm to get a membership of the prestigious London Stock Exchange in the late 90s. Research, investment strategy and fund management are the strengths of First Global. Prior to starting First Global, Devina had a seven-year-long stint at Citibank working on the Corporate Finance & Risk side. She’s an IIM-Ahmedabad gold medalist and was in the news for breaking a 60 year record as a college graduate for winning 8 gold medals which were awarded to her by Rajiv Gandhi while at Lucknow University. Devina has also featured in Fortune Magazine’s Most Powerful Indian Women in Business. She identified major multibaggers before they became mainstream - her most famous ones being HDFC, Amazon and Apple. My favourite story of Devina is how when everyone on Wall Street had written off Amazon, First Global came out with a very bullish report on the stock and supported the company at a very tough time - so much so that Jeff Bezos personally wrote to Devina thanking her for her support. Over the last 30 years Devina has often identified major stocks and sectors early and I am thrilled to get this opportunity to interview her today on the show! This is going to be such an insightful conversation for anyone trying to learn about public market investing both in India and globally - she’s truly a legend and a stalwart in the field of investing!
Takeaways
Childhood experiences and upbringing can shape one's perspective and values. Devina grew up in Lucknow and cherishes the time she spent there.
First Global has evolved from a securities firm to an investment bank and now a global asset management firm.
A systematic and quantitative approach to investing, using artificial intelligence and machine learning, can eliminate bias and manage risk.
Investors should be cautious in the small cap and SME IPO space and focus on risk management and consistency. Be cautious in the small-cap space and avoid the fear of missing out (FOMO).
The composition of indices can change over time, with a shift towards tech companies.
Investing in lending businesses can be challenging due to the unpredictability of credit quality.
Always focus on learning and bettering yourself as an investor.
Feed your mind with reading and don't be outwardly focused on competition.
Devina Mehra has a forthcoming book on investing and aims to continue scaling FIRST Global.
Timestamps:
00:00 Childhood Memories and Shaping Experiences
09:09 The Evolution of First Global
20:01 Eliminating Bias and Managing Risk
34:21 Caution in the Small Cap and SME IPO Space
40:37 Navigating the Small-Cap Space and Avoiding FOMO
41:36 The Changing Composition of Indices: From Traditional Industries to Tech Companies
46:19 The Challenges of Investing in Lending Businesses
53:26 The Importance of Learning and Bettering Yourself as an Investor
59:05 Feed Your Mind and Don't Focus on Outward Competition
01:14:59 Devina Mehra's Ambition for FIRST Global and Upcoming Book
—
Follow Devina here:LinkedIn Twitter
Follow Shrishti here: LinkedIn Twitter Instagram
If you’re new here, would love to have you subscribe to the newsletter and our YT channel for more updates. To those who have been with us for a while, I’m grateful for your support and excited to share more stories with you through this medium.
As always, will really appreciate your feedback and support as we build this out for the world!
Please help us spread the word by sharing this episode with your network!
Disclaimer: The content presented in this podcast is for informational purposes only and should not be considered financial advice. Viewers are encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions.