Link to original video by JSL Global Media

เจาะใจEP.45 : เจาะชีวิตดร.นิเวศน์ เหมวชิรวรากร จากลูกคนจีนยากจนสู่เซียนหุ้นระดับหมื่นล้าน[5 พ.ย. 65]

Short Summary:

This episode of "Jao Jai" features Dr. Niwes Hemwachiravorakul, a renowned Thai value investor with a multi-billion baht portfolio. The interview explores his journey from poverty to financial success, emphasizing his Value Investing (VI) strategy. Dr. Niwes details his VI approach, which involves long-term investments in established, profitable companies, focusing on dividend yields rather than short-term market fluctuations. He advocates for a three-pillar approach to wealth building: initial capital, investment returns, and time. The interview also touches upon his experiences navigating the 1997 Asian financial crisis and his current expansion into the Vietnamese market. The overall message highlights the importance of long-term, value-based investing and finding personal fulfillment beyond material wealth.

Detailed Summary:

The interview is structured around Dr. Niwes's life journey and his investment philosophy. It can be broken down into the following sections:

1. Introduction and Dr. Niwes's Background: The host introduces Dr. Niwes as a legendary value investor and highlights his journey from a poor child of a construction worker to a multi-billion-baht investor. Dr. Niwes emphasizes that while birth circumstances are unchangeable, one can design their life through clear goals and dedicated action. He states, "Life, you can't choose your birth, but you can design your life if you have a clear goal and work towards it."

2. Value Investing (VI) Explained: Dr. Niwes explains his Value Investing strategy, emphasizing long-term investment in fundamentally strong companies, holding them for over 10 years and benefiting from dividends. He stresses that this is not about short-term trading or market timing. He clarifies that he's not a "stock guru" in the traditional sense, not constantly monitoring market charts. His approach is akin to owning a piece of a business and letting it grow organically.

3. The Three Pillars of Wealth: Dr. Niwes introduces his "three glasses" analogy for wealth building: 1) Initial capital (accumulated savings), 2) Returns on investment (choosing the right investments, preferably those with high dividend yields), and 3) Time (long-term investment horizon). He stresses the importance of consistent savings (at least 15% of income) and long-term investment, cautioning against get-rich-quick schemes.

4. Navigating the 1997 Financial Crisis: This section details Dr. Niwes's experience during the 1997 Asian financial crisis. He lost his job at a financial institution without severance pay, but instead of panicking, he used his savings to invest in undervalued companies, capitalizing on the market downturn. This became the turning point in his VI approach. He emphasizes that the crisis presented an opportunity, not a disaster.

5. Investment Philosophy and Lifestyle: Dr. Niwes discusses his investment philosophy, highlighting his long-term perspective and focus on established companies. He mentions his diversification across several companies (6-7 major, 20+ smaller) and his recent expansion into the Vietnamese market. He contrasts his approach with short-term, speculative trading. Despite his immense wealth, he maintains a modest lifestyle, prioritizing financial security and long-term growth over immediate gratification. He states that money buys convenience, not necessarily happiness. True happiness comes from family, friends, and good health.

6. Avoiding Investment Scams: Dr. Niwes warns against fraudulent investment schemes, emphasizing the importance of understanding the fundamentals of any investment before committing. He advises against investing in assets without a clear understanding of their underlying value or purpose. He uses the analogy of worthless digital currencies versus the tangible value of shares in established businesses.

7. Conclusion: The interview concludes with a reflection on Dr. Niwes's journey, emphasizing the importance of perseverance, long-term planning, and finding personal fulfillment beyond material wealth. He stresses that while money provides security and convenience, true happiness stems from personal relationships and a fulfilling life.