Someday last week when I was about to leave for a client meeting, I got a call from my childhood friend Rajeev. We started speaking and then suddenly Rajeev told me, “Sam, don’t forget to catch up Rakesh Jhunjhunwala interview on CNBC.” I replied, “What is so special about that?” Rajeev was surprised by my nonchalant reply. But I continued, “Have you learned cricket by watching Tendulkar play? Now Rajeev was on the same page.
We forget to know ourselves and try to imitate legendary investors blindly. We don’t know their risk appetite, risk tolerance and temperament. Know your temperament, understand your risk profile first. One shirt does not fit all that’s why we have XL, XXL etc. In the same manner we need to find investing style and process suitable to us.
The biggest challenge now is to be careful from being greedy. Fear is easily recognisable; remember 2008-2009. But greed is very difficult to find; Harshad Mehta scam, Ketan Parekh, Y2K, Power & Infra 2007 etc.
Do the basics right and you will be through.
“It is not necessary to do extraordinary things to get extraordinary results.” – Warren Buffett
Dear readers, it’s not your IQ but your EQ which will decide your successful financial planning. 😌
Happy Investing !!