Rather I have a few questions for you, in case you are competent to answer them.
Archives for March 2013
Imagine two scenarios.
Scenario 1: You are looking to watch that latest Hollywood action flick you’ve been waiting for the past six weeks. Going by the pre-release popularity of the movie, you’ve had to pay Rs 500 per ticket, which is almost 3 times the normal price.
However, you are excited for the movie so the cost doesn’t pinch you that much. Now, just a day before your show, a couple of your friends who’ve already watched the movie tell you that it’s not worth watching at all. The hero’s acting is poor, and the story is very predictable and boring.
What do you do? You’ve already spent Rs 1,000 for a couple of tickets for you and your wife.
[Read more…] about That Sinking Feeling Can Destroy Your Wealth
I met a long-time Safal Niveshak tribesman and a great friend Sanjeev Bhatia and his family yesterday. Sanjeev took out time from work to visit me in Chandigarh (where I am holidaying), travelling almost 100 km from his hometown, Ludhiana.
While Sanjeev looks pretty lean and young (as you can see above :-)), he has a couple of grown-up boys, one studying engineering and the other also looking to go that way.
Being from a family that has several engineers – including Sanjeev and his wife – it’s obvious for the kids to head in that direction.
It’s human nature to want to get a job done as quickly as possible. Like you cross the street between intersections instead of using the zebra crossing, or jump a fence instead of using the gate.
It isn’t your problem!
Many of us have grown up being told that it’s important to accomplish as much as we can. But what we often aren’t told is that rushing can result in accidents, errors, and more time spent in the long run.
“Buffett Graham & Co. is a great institution for investors to learn the simple, sensible tricks to manage their own money,” I told a friend a few weeks ago. “However, all their ideas won’t work here given that we Indians have been brought up differently, and the markets also work differently.”
“But then, there are no great teachers in India who can share their investment life in front of us investors,” he said.
“There are some!” I said.
“Like Prof. Sanjay Bakshi, Mr. Chetan Parikh, and…”
“And my tribesmen!”