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In this powerful episode, Devina Mehra (Founder & Chairperson, @FirstGlobalSecurities ) breaks down the harsh truths of investing — why smart investors look beyond borders, why small caps are a dangerous obsession, and why there’s no magic wand for the next multibagger. With decades of global investing experience, Devina reveals: Why betting only on India can hurt your wealth long-term The truth about small caps (and why most don’t survive) Why your brain isn’t designed for investing — and how to fix it The real role of data, discipline & asset allocation in wealth creation How global exposure captures human innovation and protects against risk Whether you’re a beginner or seasoned investor, this conversation will challenge your beliefs and give you a fresh perspective on building lasting wealth. 📌 Chapters: 00:00 – Highlight & Introduction 02:13 – What Is Investing, Really? 03:40 – Good Investing Is Boring: Key Principles You Can’t Ignore 05:34 –The 4 Pillars of Investing: Asset Allocation, Portfolio, Risk, Diversification 09:15 – Risk Management Simplified: How a Trailing Stop Loss Works 11:56 – DIY Investing? Are You Really Your Best Fund Manager? 15:50 – Why “Buy & Forget” May Be Bad Advice 23:30 – When & How to Evaluate Your Investments 26:00 – Trading vs Investing: The Real Difference 28:15 – The Risk of Chasing Small Caps 31:55 – IPO Hype ≠ Long-Term Success 33:36 – Asset Allocation: The Secret to Better Returns 40:59 – Why Smart Investors Diversify Globally 46:52 – Devina on Crypto: Why It’s an Extremely Volatile Asset 49:27 – Inside Devina Mehra’s Own Portfolio 51:05 – How to Balance Equity & Debt for Retirement? 53:58 – SCARS: The Danger of Single Country, Single Currency, Single Asset 55:03 – Random Portfolio? How to Start Right with Asset Allocation? 58:13 – Why You Must Question Every Investing ‘Truth 01:03:47 – The Question Nobody Asks Devina Mehra 01:08:37 – What Never Changes in Investing: Human Behavior 01:11:32 – AI in Investing: Hype, Reality & the Future 01:18:29 – The Hard Truth About DIY Investing 01:23:24 – Why Sticking to a System Beats Stock Tips 01:25:47 – When to Sell & Have a Stop Loss ? ( Trailing Stop Loss ) 01:27:37 – Investing Mantra : Be The House 01:31:08 – Play for Single & Not Sixes 01:32:07 – What Investing Mistakes to Avoid ? 01:34:27 – Devina's Career Advice & Concluding Remarks 👉 If you found this useful, subscribe for more deep-dive conversations with India’s top financial mind #DevinaMehra #GlobalInvesting #ThisorThatPodcast #Multibaggers #SmallCaps #WealthBuilding Like, Share & Subscribe Follow me on social channels ✅Instagram - instagram.com/officialthisorthat ✅ Twitter/X - x.com/ThisOrThatIndia Disclaimer : This conversation is for educational and informational purposes only. It does not constitute financial, investment, or tax advice. The views expressed by the guest and host are personal opinions based on their experience and interpretation of publicly available information. Investments in the financial markets are subject to market risks, including the possible loss of principal. Always do your own research or consult a SEBI-registered investment adviser or financial professional before making any investment decisions.