Archives for May 2025

Two Books. One Purpose. A Better Life.

(Now at a Special Price. Ends today — 10th May 2025)

• Click here to buy Boundless (₹1999 ₹1599)
• Click here to buy Sketchbook (₹1999 ₹1799)
• Click here to buy the combo (Boundless + Sketchbook) (₹3998 ₹2999)

There are moments in life when everything feels fragile.

You wake up to news of conflict, war, tragedy, or chaos. Even if it’s happening far away, or on a screen, it seeps into your system. And suddenly, that spreadsheet of stocks you were reviewing just yesterday seems almost pointless.

What’s the use of a long-term plan when the world itself feels unsure?

Two Books. One Purpose. A Better Life.

(Now at a Special Price. Until 10th May 2025)

• Click here to buy Boundless (₹1999 ₹1599)
• Click here to buy Sketchbook (₹1999 ₹1799)
• Click here to buy the combo (Boundless + Sketchbook) (₹3998 ₹2999)

I am writing this series of letters on the art of investing, addressed to a young investor, with the aim to provide timeless wisdom and practical advice that helped me when I was starting out. My goal is to help young investors navigate the complexities of the financial world, avoid misinformation, and harness the power of compounding by starting early with the right principles and actions. This series is part of a joint investor education initiative between Safal Niveshak and DSP Mutual Fund.

Dear Young Investor,

I hope you are doing well, and that the lessons we’ve covered so far have been useful in guiding you through the early stages of your investing journey.

In the last letter, I wrote about something I believe sits at the very foundation of investing success: character. We looked at how humility, integrity, tenacity, self-awareness, and adaptability are what really shape an investor’s journey. And if you remember, I shared that character is mostly revealed not when things are easy, but when they’re falling apart.

A couple of quick announcements before I begin today’s post.

1. My new book, Boundless, is now available for ordering: After a wonderful response during the pre-order phase, I finally have the book in my hands and am shipping it out quickly. If you’d like to get your copy, click here to order now at a special discount (available till 10th May). Plus, I’m offering a special combo discount if you order Boundless along with my first book, The Sketchbook of Wisdom. Click here to order your set.

2. Relaunch of Value Investing Almanack: I have relaunched my premium newsletter, the Value Investing Almanack (VIA), which subscribers have called “…the best source in India on Value Investing, for both beginners and experts.” Click here to read more and subscribe to VIA at a special launch price (available only for the first 100 subscribers). Also, if you wish to check out the March 2025 VIA issue before deciding to rejoin, click here to download.

The Price of Freedom

There’s something uniquely tormenting about looking back at a decision you made years ago, one that you made with good intentions and maybe even a little excitement, and realising that today, you’d choose differently.

I’d been wrestling with that feeling a year ago, every time I entered an apartment I bought in 2018. It was my second apartment in the same building, just a floor below the first one where we lived. At the time, it seemed like a sensible and exciting step. Our kids were growing up, space was always tight in Mumbai’s famously matchbox-sized homes, and I imagined this second apartment as a seamless extension of our current one. It had a beautiful view too: a big garden and a hill in the distance, which is a rare sight of calm in this noisy and cluttered city.