How to Predict the End of a Bull Market Before it Crashes | Kushal Lodha #26

In this masterclass episode of Konversation With Kushal, host Kushal Lodha sits down with Gautam Baid, Fund Manager at Stellar Wealth Partners and bestselling author of The Joys of Compounding. Gautam opens up about losing 70–80% of his capital during the 2008 crash and how that brutal bear market forced his transition from speculative F&O trading to disciplined value investing. Using real-world examples like Rajratan Global Wire, HEG, and the Aarti Pharma Labs demerger, he breaks down how to identify multi-baggers by focusing on business quality, corporate governance, and long-term compounding over short-term market hype. Key Frameworks Discovered in This Episode: 1-The 2008 Scars Lesson: How surviving a major capital wipeout builds the behavioral resilience needed to handle volatile market drawdowns. 2-The Multi-Bagger Checklist: A deep dive into tracking management quality and structural advantages to spot massive compounders early. 3-Special Situations Playbook: How to unlock asymmetric returns through corporate actions like demergers. 4-The Three Stages of Market Cycles: A professional breakdown of the emotional and structural phases that define every bull and bear market. 💡 Don’t forget to like, share, and subscribe for more such insightful conversations with top achievers from across the world #GautamBaid #JoysOfCompounding #ValueInvesting #MultibaggerStocks #MarketCrash #SpecialSituations #kushallodha Follow Kushal Lodha on Social Media: 📝 LinkedIn:   / kushallodha548   📷 Instagram:   / kushallodha548   📱 Twitter:   / kushallodha548   Follow guest on Social Media: 📝 LinkedIn: https://www.linkedin.com/in/gautam-ba... 📷 Instagram: https://www.instagram.com/gautam__bai... 📱 Twitter: https://x.com/Gautam__Baid?s=20 Timestamp: 00:00 Intro 01:50 AUM and Returns Deep Dive 03:01 Investing Journey 04:44 First Success in Share Market 11:21 How to Identify a Bear Market 22:57 2 Categories of Business 27:21 P/E Deep Dive 29:09 See's Candies Stock Discussion 30:18 Top 3 Principles Learned from Warren Buffett 36:04 Summary on P/E 37:29 Inner Scorecard Deep Dive 41:11 How He Ignores External Validation 42:49 Indicators of a Bear Market 57:11 How to Identify the End of a Bear Market 58:03 Beginning of Bull Market 01:05:42 Stage 2 Bull Market 01:06:36 2003 to 2007 Rally Deep Dive 01:08:04 Raja Ratan Global Thesis 01:11:38 Best Monetary Investment 01:12:54 HEG Stock Deep Dive 01:13:09 Aarti Pharma Stock Deep Dive 01:16:56 Manyavar Stock Deep Dive 01:18:56 Top Investment Deep Dive 01:20:10 Investment Regret 01:22:16 Most Interesting Thing He Journaled Recently 01:24:26 Interesting Conversation with Mohnish Pabrai 01:25:34 Be Unreasonable Thesis 01:28:14 Conversation with Warren Buffett 01:31:04 What Would Mr. Gautam Ask Himself? 01:32:06 Top Books to Learn Investing