Wealth Creation

[Gaur_Krishna]

Hi Amit,

Thanks for nice quotes. I have one humble suggestion.

If possible, can you make a separate thread of all the cartoon that you post? It can be even Members area thread where others are allowed to watch & thank but no comments. So in the long run we may have a nice thread which we can sit back & enjoy (& Learn as well). You may even include previous pictorial posts that you had in that thread. There will be some repetition but in overall it will be a great thread.

Thanks & Regards,

Gaur_Krishna

True Wealth Creation is like this

 

[amitrandive]

Hi Amit,

Thanks for nice quotes. I have one humble suggestion.

If possible, can you make a separate thread of all the cartoon that you post? It can be even Members area thread where others are allowed to watch & thank but no comments. So in the long run we may have a nice thread which we can sit back & enjoy (& Learn as well). You may even include previous pictorial posts that you had in that thread. There will be some repetition but in overall it will be a great thread.

Thanks & Regards,

Gaur_Krishna

GaurJi

Thanks for the excellent suggestion !!!
:thumb::clapping:

 

[amitrandive]

Investment success does not require...glamour stocks or bull markets.

 

[candle]

Patience: even if you're good at investing it takes a long time to get rich !!

 

[TRADERSM]

Patience: even if you're good at investing it takes a long time to get rich !!

@ 83 age WHAT TO DO WITH MONEY ?????

 

[amitrandive]

@ 83 age WHAT TO DO WITH MONEY ?????

Wealth created for future generations and great philanthropist.Helping society and people in need.

Is serving self only thing in the world?
Are there no other greater causes?

 

[suri112000]

 

[rip07]

@ 83 age WHAT TO DO WITH MONEY ?????

I think after certain amount it does not matter how much do you have, and if you see his life, is very simple. He even mentioned that you can have very good life in 10,000$/Mo. So, you can imagine such kind of life he has since he was 26.

And if you ask what he will do @83, he will invest again and multiple it in another 3-4 years as it is his second nature. Besides that as Amit bahi mentioned he is a great philanthropist, already declared 99% will go for charity. Money works for him.

Thanks
rip07

 

[amitrandive]

Some stuff from mail and whatsapp....

Some good advice :

In ordinary course we keep issuing and submitting our KYC documents (identity and residential proofs..such as PAN card, electricity bill etc.) to various people. For housing or car or other loans, bank accounts,or even for buying new sim card we submit these documents.

At almost all these places they ask for self certification on these documents. We immediately sign those documents and hand over. Just imagine your self certified copies are freely available in the hands of such persons & those documents can be used by him for EVERYTHING!

Its really serious and its been seen that KYC documents handed over, can be misused... Hence, please inculcate a 'HABIT' of writing the date and purpose for which you are submitting the self certified KYC Documents so that those documents cannot be used again.

Great advice !!!:clap::clap::clap:

 

[amitrandive]

Equity market advisory…
http://www.subramoney.com/2016/07/equity-market-advisory/

I am not a big advocate of stock market advisory. Just too much about stock market investing has to be LEARNT and very little can be taught. There is too much of common sense. Some of it looks like it is ‘obvious’ but I have seen too many people fail doing even this. So here are some lessons – take it or leave it – I thought it might be useful.

1. Trading is a full time job, not a time pass activity: If you wish to make trading your career, there is a lot to learn. However, if you think you can do this like a part time activity, you are terribly mistaken. I have not seen ANY AMATEUR trader ever make money. Do not look at Deepak Shenoy. He is a professional.
2. If you have a small corpus, you are better off with an index fund, but if you have say Rs. 50 lakh with which you can trade, you will be able to do some thing sensible. Start reading everything about share market investing and financial advisory apart from equity trading.
3. Beware of neuro surgeons, dentists, drivers, Chartered accountants, auditors, directors, – ALMOST ANYBODY..bringing investing tips. The worst thing is it sometimes works. The probability is so low that it is laughable, but our brain fools us.
4. Learn basic research – so that if a blogger (like Subra) tell you to buy a share at least learn to do some rudimentary research. Buying without research is amazing stupidity, but still very common.
5. Repeating: Before you buy a share find out everything possible about the company, note it down, and KNOW why you bought that share. If you cannot remember it or if you do not understand it, and you still make profits, it is a danger sign. If the tipster were to not tell you when to sell you will hold it for eternity?
6. Have an emergency fund, a cashless medical insurance, term life insurance for the rain maker, a constant cash flow to meet your life expenses in place. Once this is in place you can trade. If you INVEST without having these in place, one day you will be selling family silver to pay your EMI. I will not be sad, I will be appreciating the ruthless efficiency of the HDFC collecting machine.
7. Do not try to get the bottom and the top of either any share or the market. You do not need to. I have done it on a couple of occasions – out of the 10,000 odd trades that I may have done. Sheer chance. Or pure lies.
8. Learn to take your losses quickly, cleanly, and make notes on what went wrong. Losing money is fine, do not lose the learning from the loss – you have already paid for the learning!!
9. Do not have too long a list. If you forget stocks that you bought, that is disaster. Keep them free for a quick sale. If you mortgage shares make sure you know how to redeem the mortgage over the phone or email requests.
10. Always have some cash for a further investment at the downside. Markets can always go lower than you think. Stay lower longer than you wish, and go up much faster than you thought. Be prepared for depth, length of stay and speed on the way up or down.
11. Do not buy what you do not understand. Read this line again. Then repeat. Then read it again and shout it out loud. Daily.
12. Trends are never your friends.
13. If in an equity meeting with analysts or fund managers if you do not know who is being fooled, it is YOU.