• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Safal Niveshak

Wit. Wisdom. Value Investing.

  • Articles
  • Newsletter
  • Premium
  • Podcasts
    • The One Percent Show
    • The Inner Game
  • Books
  • Ethics
  • Contact
  • Log In
  • Mastermind
  • Show Search
Hide Search

A Birthday Note: Announcing My New Book—Boundless

It’s my birthday today—I’ve completed 46 laps around the sun. And as I start my 47th year, here’s a fun fact I discovered: 47 is the atomic number of silver. So, I guess this will be my “Silver Year.” Not sure if that makes me more valuable—though at 46, I was a “Palladium”, which is more precious than silver and gold—or just a little tarnished, but it doesn’t matter!

But enough about silver (and aging). Today, I’m celebrating something much bigger than a birthday.

I’m excited to announce my new book, Boundless: Timeless Wisdom for a Life Without Limits (464-page hardcover book, illustrated, and written in English).


What Boundless Means to Me

This book started as a deeply personal project—just a collection of notes and thoughts I wanted to leave for my children, Kavya and Chaitanya. I wanted them to have something to hold onto as they walk on their own journeys of life, something that shares what I’ve learned (and unlearned) along the way.

But as I wrote, somewhere these notes took on a life of their own. They became lessons for anyone who has ever felt stuck, limited, or unsure of what comes next. They were for anyone looking to reconnect with the vast possibilities within themselves.

That’s why I called it Boundless.

This book is my attempt to explore what it means to live without limits—not in the sense of chasing endless ambition but in embracing curiosity, courage, and the freedom to be your truest self.


A Glimpse into Boundless

The book is organised into five sections:

  1. Self-Discovery: Finding who you are and the path you’re meant to walk.
  2. Overcoming Adversity: How to navigate life’s storms with grace (or at least try to).
  3. Mindful Living: Slowing down and noticing the small, beautiful things in life.
  4. Personal Growth: Growing not for the sake of achievement but for the joy of learning.
  5. Societal Virtues: How we can contribute to something bigger than ourselves.

These sections are made up of 52 chapters—as the number of weeks in a year—where I’ve drawn from thinkers who’ve deeply influenced me—Steve Jobs, Kahlil Gibran, Ramana Maharshi, Leo Tolstoy, Viktor Frankl, Lao Tzu, and many others—and added stories from my own life and other such reflections. Each chapter also has questions to guide your own thinking.

Boundless isn’t just about the words. It’s filled with illustrations I’ve drawn myself. Simple and imperfect as they may be, they are my way of bringing the ideas in the book to life, adding a little extra warmth and meaning to the pages. I hope these sketches make the journey through the book feel a bit more personal, like a conversation between us.

Overall, creating this book has been a labour of love. Like my first book—The Sketchbook of Wisdom—I chose to self-publish because it allows me to pour my heart into every detail. All I had as company along the way was the quiet satisfaction of crafting something meaningful.

My hope is that Boundless will be more than a book to you. I hope it feels like a friend—someone who’s there for you when things get tough and a reminder of why you keep going.


How Boundless is Different from The Sketchbook of Wisdom

Many of you have read my first book, The Sketchbook of Wisdom, and have shared how its timeless lessons resonated with you. It’s deeply humbling to know that it’s found a place in so many of your lives. As I now introduce Boundless, I want to quickly share how this new book is both a continuation of that journey and a departure into something deeper.

When I wrote The Sketchbook of Wisdom, I wanted to create something timeless—a collection of timeless ideas that anyone could pick up, flip through, and feel inspired.

Boundless, though, is a very different kind of book. It’s more personal, more reflective. It’s not just about what others have said but about what I’ve learned—through my own experiences, failures, and moments of clarity.

If The Sketchbook of Wisdom was a map of timeless truths, Boundless is the journey itself. It’s deeply personal, but I’ve written it for anyone who’s looking to embrace their unique path and live a life that feels limitless.

It’s not a replacement for The Sketchbook of Wisdom—it’s a companion, and I hope it finds a place in your life, too.


Early Praise for Boundless

I sent a reviewer’s copy of the book to a few people I admire, and here are some nice things they had to say:

Vishal blends philosophy, personal stories, and practical insights to help you transcend limitations and discover the extraordinary within yourself.

—Manish Chokhani, Director, Enam Holdings

A philosophical journey into our lives, our choices and their consequences.

—Monika Halan, Author, Let’s Talk Money

Boundless is a thought-provoking exploration that reshapes how we see the life we live. Prepare to be inspired, challenged, and utterly transformed by this literary masterpiece.

—Bogumil Baranowski, Founder, Blue Infinitas Capital

Joy to read, thought-provoking, and full of worldly wisdom.

—Barry Ritholtz, Chairman & CIO, Ritholtz Wealth Mgt.

Vishal distils timeless wisdom into a profound guide for living a meaningful life.

—Sankaran Naren, CIO, ICICI Prudential AMC

Boundless is a wonderful guide on how to live a more intentional life. If you want to make tangible changes and go on a journey of self-discovery, then Boundless is the book for you.

—Nick Maggiulli, Author, Just Keep Buying

Boundless is a call to break self-imposed limits and embrace life as an unfolding story.

—Radhika Gupta, MD & CEO, Edelweiss Mutual Fund


A Birthday Gift

Since it’s my birthday, I’d like to turn the tradition around and give you a gift—an invitation to pre-order Boundless. By pre-ordering, you’ll be among the first to receive the book when it starts shipping in January 2025.

Click here to pre-order Boundless now!

And because I want to make this special for those of you who’ve supported me all along, I’m offering a pre-order price of ₹1799 (base price: ₹1999). Pricing for international orders is $51 (base price: $55)

Also, as a token of my gratitude, all pre-orders will include a couple of special bonuses:

  • Free Workbook: A companion guide with reflection prompts and additional insights to help you live the ideas in Boundless.
  • Author Q&A: An invite to an online session where I’ll share behind-the-scenes stories and answer your questions (sometime in early January 2025).

Click here to pre-order Boundless now!

The pre-order bonuses are my way of saying thank you—because honestly, I wouldn’t be here without you.


Final Thoughts

Completing 46 has been humbling. There’s a lot I still don’t know. But one thing I’ve learned is this: Life isn’t about perfection or having all the answers, but is about finding the courage to keep growing—even when the silver starts showing.

Thank you for letting me share this journey with you. Whether you’ve read my words, shared your thoughts, or simply followed along, you’ve been an important part of my story.

Here’s to another year of learning, reflecting, and (hopefully) shining just a little brighter.

With gratitude,
—Vishal

P.S. They say silver tarnishes if you don’t take care of it. So here’s to polishing the best parts of ourselves and letting the rest fade with grace. Let’s live boundlessly together.

Click here to pre-order Boundless now!

The Investor’s Paradox: When to Act and When to Wait

Investing is like playing a game where the rules keep changing, and no one really knows what’s going to happen next. At the heart of this game are two big things: time and risk.

Time changes everything—it can make a risky investment safe or turn a sure thing into a disaster. And the way you handle time and risk will decide whether you win or lose.

This content is reserved for Mastermind Members. To access, please login below with your membership credentials.

If you are not a member, please consider joining the Mastermind Membership to access my most comprehensive value investing course, plus practical, time-tested ideas in investing, human behaviour, business analysis, and decision making, and get onto the path of becoming a better version of yourself.

 
 
Forgot Password

The Psychology of Investing #5: What’s Your Internal ‘Yes-Person’ Saying?

The Sketchbook of Wisdom: A Hand-Crafted Manual on the Pursuit of Wealth and Good Life.

This is a masterpiece.

– Morgan Housel, Author, The Psychology of Money

Get Your Copy Now


Become a wiser investor in just 5 minutes

Join The Journal of Investing Wisdom and receive insightful ideas on investing, stock analysis, and human behaviour. Plus, unlock access to free chapters of my upcoming books, multiple e-books, and my stock analysis excel. All for FREE!

No charge. Unsubscribe anytime.


The Internet is brimming with resources that proclaim, “nearly everything you believed about investing is incorrect.” However, there are far fewer that aim to help you become a better investor by revealing that “much of what you think you know about yourself is inaccurate.” In this series of posts on the psychology of investing, I will take you through the journey of the biggest psychological flaws we suffer from that causes us to make dumb mistakes in investing. This series is part of a joint investor education initiative between Safal Niveshak and DSP Mutual Fund.


We all have a natural instinct to protect ourselves from admitting we’re wrong.

Whether we make a mistake that hurt someone, cost us money, or just made us look foolish, saying, “I messed up,” doesn’t come easily to us.

In fact, the bigger the stakes, the harder it is for us to face our mistakes head-on. In such situations, we go into a defense mode, trying to justify what we did rather than accept the truth.

[Read more…] about The Psychology of Investing #5: What’s Your Internal ‘Yes-Person’ Saying?

Warren Buffett’s Masterclass on Legacy and Living Well

The Sketchbook of Wisdom: A Hand-Crafted Manual on the Pursuit of Wealth and Good Life.

This is a masterpiece.

—Morgan Housel, Author, The Psychology of Money

Get Your Copy Now

I just finished reading Warren Buffett’s latest letter. It’s not his annual shareholders letter, but about his thoughts on time and mortality, and how he’s planned his legacy. But as always, there’s so much to learn—not just about money, but about living a meaningful life.

I have created some notes on the letter, focusing on Buffett’s lessons about wealth, values, and the ticking clock we all live by. It’s not a perfect summary, but I think it captures the essence of his message.

Click here to download the PDF with my notes.

After you read, let me know what stands out to you.


That’s all from me for today.

Thanks for your time.

—Vishal


P.S. Check out my premium online course and membership—Mastermind—and unlock access to my most comprehensive Value Investing course and exclusive members-only content, special ebooks, transcripts of my podcasts, notes from the books and other timeless resources I am reading, and curated content that I am consuming and learning from week after week. Click here to join now at a ₹2000 discount.

20 Timeless Lessons for Young and Old Investors

The Sketchbook of Wisdom: A Hand-Crafted Manual on the Pursuit of Wealth and Good Life.

This is a masterpiece.

—Morgan Housel, Author, The Psychology of Money

Get Your Copy Now

Investing is a lot like riding a bicycle for the first time. You start off feeling wobbly, unsure of what you’re doing. Every little bump feels like it’s going to throw you off. You hold your grip on the handle too tightly, overreact to every movement, and fall a few times. But if you stick with it, you slowly find your balance.

You ultimately realise it’s not about avoiding every bump but learning how to roll through them without crashing.

Over the years, I’ve had my fair share of crashes in the investing world. Some left me with bruises (mostly to my ego), while others taught me lessons I wouldn’t trade for anything. Some time back, I shared some of these lessons on Twitter—simple truths for both new and experienced investors that might help make the journey a little smoother.

This isn’t some definitive guide or magic formula. Think of it more like a list of signposts—reminders that might help you find your balance, especially when the market gets rough.

Whether you’re just starting out, or you’ve been riding the investing bicycle for years, I hope these lessons help you stay steady when it matters most.

Here they are.

[Read more…] about 20 Timeless Lessons for Young and Old Investors

Letter to A Young Investor #5: You Stand Alone

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.


Become a wiser investor in just 5 minutes

Join The Journal of Investing Wisdom and receive insightful ideas on investing, stock analysis, and human behaviour. Plus, unlock access to free chapters of my upcoming books, multiple e-books, and my stock analysis excel. All for FREE!

No charge. Unsubscribe anytime.


Dear Young Investor,

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

In my previous letter, I wrote about the art of waiting—about how patience can be one of the most powerful tools in investing. Today, I want to talk to you about something just as powerful but perhaps more challenging.

It is about the importance of “standing alone.”

[Read more…] about Letter to A Young Investor #5: You Stand Alone

The Psychology of Investing #4: The Art of Getting Less Prejudiced

The Sketchbook of Wisdom: A Hand-Crafted Manual on the Pursuit of Wealth and Good Life.

This is a masterpiece.

– Morgan Housel, Author, The Psychology of Money

Get Your Copy Now

(Special Diwali Discount till 10th Nov. 2024)


Become a wiser investor in just 5 minutes

Join The Journal of Investing Wisdom and receive insightful ideas on investing, stock analysis, and human behaviour. Plus, unlock access to free chapters of my upcoming books, multiple e-books, and my stock analysis excel. All for FREE!

No charge. Unsubscribe anytime.


The Internet is brimming with resources that proclaim, “nearly everything you believed about investing is incorrect.” However, there are far fewer that aim to help you become a better investor by revealing that “much of what you think you know about yourself is inaccurate.” In this series of posts on the psychology of investing, I will take you through the journey of the biggest psychological flaws we suffer from that causes us to make dumb mistakes in investing. This series is part of a joint investor education initiative between Safal Niveshak and DSP Mutual Fund.


Niels Bohr, the Danish physicist who made foundational contributions to understanding atomic structure and quantum theory (for which he received the Nobel Prize in Physics in 1922), once proposed that the goal of science is not universal truth.

Rather, he argued, the modest but relentless goal of science is “the gradual removal of prejudices.” We start with grand ideas about the world, but as science advances, these ideas are broken down, and we realise we’re left with fewer certainties.

Take Copernicus’s discovery that the Earth revolves around the sun. It gradually removed the prejudice that Earth was the centre of the universe, shattering an age-old belief that had once seemed unshakable. Or Darwin’s theory of evolution, which gradually removed the prejudice that humans were a special creation, separate from the rest of the species. We had to rethink everything about our origin.

Newton’s discovery of gravity gradually removed the prejudice that objects were attracted to the earth because it was in their nature to do so. Then there’s Louis Pasteur’s discovery of the germ theory, which removed the prejudice that infections and diseases were somehow a result of divine punishment rather than the activity of microorganisms.

Then, much later, Daniel Kahneman and Amos Tversky dismantled another cherished assumption — that humans are rational animals. Their research on cognitive biases showed that our choices aren’t always logical, especially in areas like investing. Their work on behavioural economics and human irrationality gradually removed the prejudice that humans make financial decisions based on reason.

These shifts are more than facts. They’re complete overhauls of how people understood life and the world around them. And they weren’t quick; they took decades, even centuries.

Now, even when you move beyond science and look at life in general, being a lifelong learner serves a similar purpose – that of the gradual removal of prejudices we carry in our minds and the lenses with which we see and judge situations and people around us. We all start with our beliefs, moulded by family, culture, and experience. But it’s only by opening ourselves up, by being humble enough to unlearn, that we start to shed these layers of preconceptions.

I have lived with and suffered through several prejudices over the years, which were dispelled one after the other as I walked on my journey of lifelong learning. Every single time, I thought I had a clear understanding of something, only to later discover my grasp on it was incomplete or even completely wrong. And I know this process won’t stop.

Every time I started believing I knew how the world was, the world showed me more and more ways in which I was wrong.

I learned that I was wrong about what things are. The things I took for granted as “the way things are” were just one way to see them.

I learned that I was wrong about how things work. Even in fields I thought I understood well, there were layers of complexity I was blind to.

I learned that I was wrong about who people are. You meet someone and form opinions. And then time and experience reveal the many shades and stories that make them who they are.

When I started my investing career in 2003, I held onto a set of beliefs without questioning them. I believed:

  • What Gordon Gekko said in the movie Wall Street, “I don’t throw darts at a board. I bet on sure things.”
  • That greed was indeed good, and that success required a certain ruthless, profit-driven mindset.
  • That stocks were blips on the ticker, just numbers to be bought low and sold high, rather than pieces of actual businesses.
  • That the only thing that could help me succeed as an investor was my skill in stock picking—the ability to find that perfect stock that would make it all worthwhile.
  • That making money from stocks required me to just be rational in my analysis.

These prejudices were gradually removed as I read and learned from Graham, Buffett, Munger, Fisher, Taleb, Kahneman, and others who approached investing as more than just a game of numbers. These thinkers challenged me to think beyond returns, to understand the nature of risk, and to see investing as a way to build sustainable wealth, not a quick win. Over time, I came to realise:

  • There are no certainties in investing, only uncertainties.
  • Greed is not good for an investor, and neither are fear and envy. These emotions cloud judgment and lead to impulsive actions.
  • Stocks are representative of businesses, and to do well, I must think and act like a business owner.
  • Investing is largely a game of luck, and that skill shines through only in the long run. Short-term wins can easily make you feel invincible, but it’s often just randomness giving you a temporary boost.
  • Making money from stocks required much more than rational analysis; it needed emotional discipline and a great control over my behaviour. You might know the theory, but in the heat of the moment, emotions take over.

After 20+ years of being an investor and learner, I still have my prejudices and continue to look at the world with my own tinted glasses. And I am sure that will continue till I have my thinking faculties working intact (for it’s our prejudices that make us humans). No matter how much we learn, our biases never disappear; they only become quieter, easier to spot.

But as I continue my learning journey and keep unburdening myself with parts of my ego and blind spots, I also believe that I may see a greater light coming from the end of the tunnel of my ignorance. Learning doesn’t make us perfect thinkers; it just pulls back a few more layers, one at a time. And that possibility—that learning can clear a bit more fog—is what keeps me going.

I may never see things completely without bias, and maybe I’ll never truly “arrive,” but I believe I’ll become less prejudiced.

My life and thinking may get better, little by little, as I unlearn and relearn. And if you’re anything like me, I believe the same for you too.

Just keep learning.

The purpose of this series is to help you gradually get over your own prejudices and become a better investor. Each step forward clears a bit of that fog, bringing clarity to both life and investing.


Disclaimer: This article is published as part of a joint investor education initiative between Safal Niveshak and DSP Mutual Fund. All Mutual fund investors have to go through a one-time KYC (Know Your Customer) process. Investors should deal only with Registered Mutual Funds (‘RMF’). For more info on KYC, RMF & procedure to lodge/ redress any complaints, visit dspim.com/IEID. Mutual Fund investments are subject to market risks, read all scheme related documents

Jason Zweig on the Principles of Intelligent Investing, and the Enduring Wisdom of Ben Graham

In the 35th episode of The One Percent Show, I talked with Jason Zweig, a personal finance columnist for The Wall Street Journal and the editor of Benjamin Graham’s The Intelligent Investor. Jason is also the author of Your Money and Your Brain, one of the first books to explore the neuroscience of investing, and The Devil’s Financial Dictionary, a satirical glossary of Wall Street.

We explored the critical lessons of becoming an intelligent investor, how to survive the stock market, why Ben Graham’s ideas still matter, and much more.

[Read more…] about Jason Zweig on the Principles of Intelligent Investing, and the Enduring Wisdom of Ben Graham

Letter to A Young Investor #4: The Art of Waiting

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.


Become a wiser investor in just 5 minutes

Join The Journal of Investing Wisdom and receive insightful ideas on investing, stock analysis, and human behaviour. Plus, unlock access to free chapters of my upcoming books, multiple e-books, and my stock analysis excel. All for FREE!

No charge. Unsubscribe anytime.


Dear Young Investor,

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

In my previous letter, I wrote about the remarkable power of compounding—how time and consistency can turn small investments into something significant. Today, I want to introduce you to a closely related concept that holds the key to allowing compounding to work its magic.

[Read more…] about Letter to A Young Investor #4: The Art of Waiting

Being Vulnerable

The Sketchbook of Wisdom: A Hand-Crafted Manual on the Pursuit of Wealth and Good Life

Buy your copy of the book Morgan Housel calls “a masterpiece.” It contains 50 timeless ideas – from Lord Krishna to Charlie Munger, Socrates to Warren Buffett, and Steve Jobs to Naval Ravikant – as they apply to our lives today. Click here to buy now.


The cave you fear to enter holds the treasure you seek. ~ Joseph Campbell

I was 23, straight out of college, when I came to Mumbai in 2001. I had come from a small town in Rajasthan with a population of under 2 lac, or 0.02 crore. Mumbai was 80 times more crowded, and I was scared.

I had just accepted a seat at an MBA college in this city, and my father had paid the fee. So, there was no looking back. Now when I think back about those times, it was quite possibly the most intimidating situation I had ever gotten myself into thus far.

But I did not want to be a quitter, so I stayed, struggled to get along with the city and its people, and still stayed.

In the first few weeks at college, I flunked more than half of my classes as I was too shy and scared to be out of my accommodation and onto the crowded roads and public transport and then into my class of ‘city’ students.

I never felt as vulnerable in my life as then.

[Read more…] about Being Vulnerable
  • « Go to Previous Page
  • Page 1
  • Interim pages omitted …
  • Page 4
  • Page 5
  • Page 6
  • Page 7
  • Page 8
  • Interim pages omitted …
  • Page 137
  • Go to Next Page »

Primary Sidebar

Become a wiser investor in just 5 minutes

Subscribe to 'The Journal of Investing Wisdom' and receive insightful ideas on investing, stock analysis, and human behaviour. Plus, unlock access to free chapters of my upcoming books, multiple e-books, and my stock analysis excel. All for FREE!

Popular Posts

  • Week
  • Month
  • All Time

About   |   Newsletter   |   Courses   |   Books   |   Connect

Uncopyrighted & Handcrafted with in India

  • Twitter
  • Youtube
  • Instagram