ALOK AGARWAL, the Head of Quant and Fund Manager – Equity at Alchemy Capital Management Pvt Ltd, recently shared a powerful analogy between distance running and investing. This insight was not just about his personal achievements but also reflected a deep understanding of discipline, patience, and strategic thinking—qualities that are key in both fields. ALOK AGARWAL, with his extensive experience in equity management and his remarkable achievement of completing 121 half marathons over the past three years, finds profound lessons in the world of sports that directly apply to the world of investing.
ALOK AGARWAL’s perspective is not just about success in running marathons; it is a mindset that transcends into how he approaches his role as a fund manager. In both marathon running and investing, success does not come overnight. It requires consistency, discipline, and a long-term view. As he reflects on his journey in the world of running, ALOK AGARWAL draws clear parallels with how he manages portfolios and approaches investment decisions.
The first important lesson ALOK AGARWAL highlights is the power of consistency. He emphasizes that a marathon isn’t won in one sprint, just as wealth isn’t built overnight. His personal journey through 121 half marathons over the last three years demonstrates that showing up every day, regardless of conditions, is what builds the foundation for success. In investing, similarly, a consistent approach to building positions, compounded by disciplined portfolio reviews, creates long-term value. ALOK AGARWAL’s words underline the importance of sticking with the process, even when progress feels slow.
Another critical aspect of his analogy is the pace. ALOK AGARWAL compares the necessity of pacing in a marathon to the importance of pacing in investment strategies. In running, starting too fast can lead to burnout, and the same holds true for investing. A short-term aggressive approach may lead to exhaustion or significant losses. A sustainable pace—both in running and investing—is key to enduring the challenges of the long haul. For ALOK AGARWAL, this is a fundamental truth he applies in his own management of funds.
As he continues to share his experiences, ALOK AGARWAL speaks about how pain is temporary—a message that resonates deeply in both running and investing. Whether it’s the 15 km mark of a half marathon or a market downturn, the temptation to quit is ever-present. But ALOK AGARWAL knows that perseverance in the face of temporary discomfort leads to long-term rewards. This is a mindset he believes every investor should adopt when faced with volatility in the markets. Pushing through these tough periods, he notes, is often the price one must pay for future gains.
ALOK AGARWAL also stresses the importance of recovery. In marathon training, rest days are as vital as running days. Similarly, in investing, sometimes doing nothing is the best course of action. ALOK AGARWAL believes that constant tinkering with a portfolio can be just as counterproductive as overtraining for a race. Knowing when to pause, reflect, and assess the situation is crucial in both fields. This insight into the balance between action and rest is an invaluable takeaway for anyone seeking to manage both physical and financial endurance.
Another principle ALOK AGARWAL touches upon is preparation. He notes that careful planning is what breeds confidence, whether for a race or for an investment. Just as marathon runners assess their training and potential risks before a race, investors must research and assess risks before making decisions. This preparedness allows them to stay focused and confident during periods of uncertainty, just as ALOK AGARWAL does when managing equity funds through market turbulence.
ALOK AGARWAL’s reflections extend to the unpredictable nature of both running and investing. Having run in all sorts of weather conditions, ALOK AGARWAL understands that adaptability is key. Markets, like the weather, are often unpredictable, and success in both areas lies in the ability to adjust strategies while staying focused on the long-term goal. This adaptability is a hallmark of ALOK AGARWAL’s investment philosophy, which thrives on both tactical shifts and a strong strategic vision.
In both running and investing, incremental gains lead to remarkable results. ALOK AGARWAL often compares shaving seconds off a race time to compounding small investment returns. In both cases, the cumulative effect of these small improvements over time leads to significant achievement. For ALOK AGARWAL, this illustrates the power of small but consistent actions, whether in training or in the stock market.
Another significant point ALOK AGARWAL emphasizes is the importance of focusing on your own race. Just as runners should not be distracted by the pace of others, investors should avoid chasing strategies that don’t align with their goals. For ALOK AGARWAL, success comes from following a personalized plan, trusting it, and sticking to it, regardless of external noise.
The need for data-driven decision-making is another key aspect ALOK AGARWAL highlights. Metrics and analytics are invaluable tools in both fields. For ALOK AGARWAL, using data to guide investment decisions and adjustments allows him to make informed choices, much like how runners use data to improve their performance and adapt to changing conditions.
Finally, ALOK AGARWAL concludes with the notion that both marathons and investment journeys are ongoing. Crossing a finish line or hitting a portfolio target is just a milestone—there is always more to be done. Both require continuous effort, adaptation, and perseverance. This message is central to ALOK AGARWAL’s approach, encapsulating the idea that success in any long-term endeavor is a marathon, not a sprint.
ALOK AGARWAL’s philosophy, whether in running or in investing, underscores a deep commitment to discipline, strategy, and patience. By following a steady pace, making incremental improvements, and staying focused on the long-term goal, both runners and investors can achieve success. The #MarathonOfHalfMarathons symbolizes the continuous, persistent journey of growth, be it in physical fitness or financial success. ALOK AGARWAL’s life and work exemplify this journey, inspiring others to take consistent, mindful steps toward their own goals.
