"...ek number ka dhakkan hai tu..." remarked a very close friend. ["you are an idiot of the first order"]
It was around 2005-06 when I began my career, armed with a modest salary and savings. As a Gujju, delving into the stock market was inevitable. I started investing based on recommendations from friends and calls in the Economic Times. Though I had my share of ups and downs initially, a clear trend emerged:
- If any stock ran up a bit, I would sell it off thinking "Bahut badh gaya hai, ab girega..." [It's risen too much, a fall is imminent.]
- If a stock remained stagnant for 5 to 6 months, I'd sell, believing, "iska kuch nahi hoga" [This one's going nowhere.]
- If a stock started declining, I'd hold onto it, convinced, "Bahut gir gaya hai, ab badhega..." [It's fallen too much, it'll bounce back.]
While I made some profits, I often sold good stocks prematurely, missing out on further gains. The gains were overshadowed by unrealized losses from falling stocks. Eventually, I realized my friend was right, and the stock market wasn't suited to my psyche.
This principle probably applies to many aspects of life, including careers. One needs to continue when times are good, hang on when the action momentarily pauses, and know when to cut losses and move on when things take a steep downturn. Often, we exit promising roles or firms due to perceived lack of opportunities or stagnation, when patience might have yielded rewards. Conversely, we sometimes cling to unfavorable situations hoping for a turnaround, ignoring underlying issues.
Recently, I watched a 3-minute (hindi) interview of Pankaj Tripathi discussing the concept of 'Thehrao' (stability) in the final 50 seconds of the video ( link to youtube video). 'Thehrao' is often both underrated and understated in some aspects of our lives.
On that note, I'm delighted to announce my "Presidential" journey progressing from 𝗔𝘀𝘀𝗶𝘀𝘁𝗮𝗻𝘁 𝗩𝗶𝗰𝗲 to 𝗩𝗶𝗰𝗲 and now 𝗘𝘅𝗲𝗰𝘂𝘁𝗶𝘃𝗲 𝗩𝗶𝗰𝗲 President with Marsh McLennan & Marsh India. I've navigated growth and plateaus, recognizing that learning never stops and that solid fundamentals always pay off.
This time, I'm certain I've found a multibagger stock, and I'm holding onto it ! :)
