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Journey of a Value Investor – Part 1

I recently returned from the first phase of my True Wealth Workshops held in Ludhiana, Jaipur, Indore, Vadodara, and Surat, covering around 3,800 KM over six days.

The next phase starts on 21st November, where I will cover Nagpur, Raipur, Bhubaneswar, Ranchi, Patna, and Lucknow. Click here to know more and register.

I wish to thank the following people for helping me out in several ways during this journey –

Ludhiana – Haresh Nagpal (for offering his office as venue and spending his precious time helping me out in other ways) and Sanjeev Bhatia (for just being there for me, including taking me out for the most delicious Punjabi food I’ve ever eaten)
Jaipur – Jitendra Khandal (for bringing me home-cooked food and helping with other arrangements) and Rajveer Singh (for identifying the venue)
Indore – Abhijeet Dongre (for hosting me at his home and helping me with the venue and other arrangements)
Vadodara – Samir Shah (for offering his office as venue) and Reni George (for hosting me at his home, preparing a great breakfast for me, and partnering me in my morning walk at the beautiful Sayaji Baug)
Surat – Premal Thakkar (for hosting me at his home and co-conducting the Vadodara and Surat Workshops with me) and Pratik Patwari (for identifying the venue)

Here are the amazing tribe members I met in these five cities…


The overall experience was great, and here are a few things I learnt (or re-learnt) in this journey.

The most important revelation for me was that learning has no age, and requires no qualification. So while I met a 16-year old student in Indore who already has a passion for long-term investing, I also met a few ardent learners who’ve retired from work but have not lost the zeal to learn, or even start learning.


The second key lesson was that a vast majority of people playing the stock market don’t know what they are doing. So I had to answer a lot of questions regarding the dangers of –

  • Stock trading despite the constant excitement of indulging in it;
  • Borrowing money to trade/invest (you may not just lose your savings, but also your reputation);
  • Blindly cloning successful investors;
  • Diworseifying (a lot of people I met owned 20+ mutual funds and 40+ stocks in their portfolios); and
  • Trusting the advice of ‘smart’ people who appear in business media.

One person called me before one of my workshops and said, “Sir, you should start your workshop only after 3.30 PM.” I asked, “Why?” He replied, “Because the markets are open till 3.30.”

I thought to myself, “So you want to learn about long term investing and worry that you would miss the excitement of a day’s trading? Wow!”

So, effectively, if you think that my teachings in sensible investing will make a lot of people sensible investors thus leading to loss of available value in the markets, rest assured. Most people will never become sensible investors, because it’s not exciting, it’s utterly boring, requires hard work, and works only in the long run. 🙂

Anyways, the third lesson was that a large majority of people invest in the stock market for “making money” instead of “building wealth”. This is a thinking which, I believe, needs a great overhaul because unless you think in terms of long term wealth creation, you won’t invest for the long term. So that was one important lesson I left the attendees with at all places.

The fourth lesson is that while most people would willingly pay (and a lot of money) for deception (stock tips, promise of quick returns, etc.) not many want to pay for education. 🙂

Now, it would be wrong on my part to lay any blame on people for not paying much for the workshop because that is what I have priced it (Rs 0 to Rs 2000), but it’s disappointing to know that people who have lost a lot of money trading stocks, commodities, etc. and ask the most number of questions during the workshop, end up paying either nothing or not enough money to pay even the cost of running the event.

In fact, one person mentioned in his feedback form that he would think for a month about the value of the workshop and then decide how much to pay! I just wish he applies the same process while valuing stocks. 🙂

Then, someone asked me why I expect any fee from people given that “everything is available for free on the Internet.” Without doubt, I had no answer for this question. 🙂

Overall, despite the lower than expected attendance across all cities, and that a lot of people walked in casually after the start time, it was immensely motivating for me to know that there are many who would want to learn how to invest sensibly in the stock market.

So, there’s a lot to do on my front, and there are miles to cover in this journey to help more and more people make sensible decisions in their investing lives.

Even if my teachings benefit just one person in his/her financial life, I would consider my work done.

Till then, let’s meet if you are in any of the following cities on the stated dates and want to join my upcoming True Wealth workshops –

  • Nagpur – 22nd Nov. 2014, Saturday | 9 AM to 1 PM
  • Raipur – 23rd Nov. 2014, Sunday | 9 AM to 1 PM
  • Bhubaneswar – 24th Nov. 2014, Monday | 2 PM to 6 PM
  • Ranchi – 26th Nov. 2014, Wednesday | 2 PM to 6 PM
  • Patna – 27th Nov. 2014, Thursday | 9 AM to 1 PM
  • Lucknow – 30th Nov. 2014, Sunday | 9 AM to 1 PM

Click here to register for any of these upcoming workshops.

My journey of the next 5,500 KM – of spreading the ideas on sensible investing – starts soon.

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About the Author

Vishal Khandelwal is the founder of Safal Niveshak. He works with small investors to help them become smart and independent in their stock market investing decisions. He is a SEBI registered Research Analyst. Connect with Vishal on Twitter.

Comments

  1. Sir, waiting for the 3rd part of subra’s interview 🙂

  2. “Most people would willingly pay (and a lot of money) for deception (stock tips, promise of quick returns, etc.) not many want to pay for education”.
    How true. We Indians are eternally impatient. We always chase not even short term but immediate term goals and profits and of course, in that chase, lose the great thing lying ahead.
    We do not want to pay a good doctor for his/her fee, but, willingly would take costly medicine prescribed by a not-so-good doctor. Because, many people told that, in medicine you are taking/consuming some thing physically, whereas, giving fee to a doctor for his ‘hidden’ or non-see-able service (I can’t see what service he is rendering by examining me).
    Most of the people are not willing to take professional service and pay for it. They are willing to take ‘rumours’ at some pan shop and road side tea vendor, at face value and invest their hard earned money and of course, to lose it ( I am writing this based upon my life’s experience of watching and interacting with thousands of people).
    We Indians have very typical habits and we can’t change it.
    Long Live we all Indians.

  3. Dear Vishalji

    Would like to know when will you be conducting the workshop in Mumbai.

    thanks

  4. Syed Wasim says:

    Sir in our country people have a rigid thinking pattern. People here think if they can make profit only then they will pay. The course you preach is very difficult to follow, that explains it self – its difficult to make money if we “Rent Stocks”. knowledge and experience are more precious than a stock tip on CNBC. I love your posts and big fan of you. Cheers.

  5. Wish you all the best for second leg . You are doing a great job

    Price for education/knowledge increases when it is made to look scarce and it is seemingly difficult to get . Pl collect Rs 10000 and have only those participants to attend who pass basic test on long term investing ( questions from your own e books shared in advance )

    That way your classes will be exclusive and students who attend will be serious and gain immensely from peer learning

  6. Hi Vishal – Do you plan on visiting Pune anytime to conduct your workshops?

  7. moronbuffet says:

    journey of a value investor — LOL

    i thought this will be some life story of a successful person

    instead this is just a travelling salesman travel diary LMAO

  8. After Subramoney way part 1 and 2, the tribe is eagerly waiting for part 3 …. Just a note…..

  9. Very interesting comments and notes 🙂 In the end all of us are penny-wise, pound-foolish.
    I just hope to meet you someday when I am back in India to thank you for the wonderful books and resources (and interesting blog posts) you have. They have been of immense help for me. Thank you very much Vishal. I have become a better investor because of you.

    Cheers, Harsha

  10. Hi Vishal,

    I wish i would had a chance to know you and your thoughts 10 years back when i actually started earning!!

    Anyways learnt a lot in the previous surge then the downfall and then no activity, so have experienced one complete cycle, hope i can make use of next opportunity /cycle.

    Do you have Noida in your list for the coming months.

    Best Regards.

  11. Sandeep Sudhakaran says:

    Hi Vishal,
    I love your writings. Do come to Cochin also 🙂
    Thanks

  12. Hi ,I am very impressed by your simplicity .It was great Learning once again.It is like removing dust .You are blessed by God for having such life.Keep up the good work.Congratulations.

  13. have any plans of conducting @hyderabad. wish to know.
    Kindly focus on the process of identifying companies for long term investing. sell criteria with successful examples. what should be thought process of identifying them. willing to identifying the venue and arrangements etc.,

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