Capitalmind Podcast

Author: Capitalmind

Capitalmind looks at stocks, bonds, funds and the macro to bring you their view on the Indian financial markets. We discuss all things related to investing at our focussed podcast that keeps it simple. For more, go to capitalmind.in and to invest with us, visit capitalmindwealth.com
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Language: en

Genres: Business, Investing

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Who Is Really Controlling Your Money? (Not Who You Think)
Wednesday, 17 December, 2025

Shray sits down with Deepak Shenoy from Capitalmind to expose how proxy advisors, index manufacturers, credit rating agencies, and one costly habit are secretly making decisions about your investments. What we uncover: Proxy Advisors: How Glass Lewis and ISS voted against Elon Musk's $1 trillion Tesla package—and why their word has become gospel for fund managers managing your money Index Manufacturers: Why NSE and BSE make subjective calls in supposedly "objective" indices. The HDFC-HDFC Bank merger and Reliance-Jio demerger reveal they're acting more like fund managers than neutral rule-followers Current Account Waste: ₹21 lakh crores sitting idle in corporate accounts earning zero interest—₹40,000 crores in lost profits annually Deepak breaks down why passive investing isn't truly passive, how the NBFC rule hurts startups, and why transparency matters as index funds take over the market. Timestamps: 0:00 - Three institutions controlling your money 1:44 - Proxy Advisors - Fighting Elon Musk 6:28 - Proxy advisors have their own agendas 13:30 - Proxy advisors becoming gospel 17:16 - Index Manufacturers - Second institution 18:24 - 35 lakh crores active vs 12 lakh crores passive 20:22 - Index no longer objective function 26:45 - Index manufacturers becoming fund managers 32:01 - Credit Rating Agencies - Third institution 35:21 - Big names get triple A ratings easily 37:52 - Market knew ILFS wasn't triple A 41:37 - Don't link things strictly to ratings 46:25 - Why so much money in current accounts? 49:00 - Could add 40,000 crores to profits 49:36 - Startup NBFC rule problem 56:37 - Reduce need for inefficient buffers