Dear Friends,
The events of the last few weeks leaves me in a state of discomfort. The mindless mudslinging by a few hiding behind the burkha of internet pseudo names - with a motive that is as elusive as their real identity has left a bad taste. I am surprised as to why most people would rather bring somebody down than try and stand up to his height.
Maybe this is a way of life which I am getting used to.
Added to this was the selective leaking of research write ups and all other information that I used to share on this platform. In fact people created What's Up groups where sharing of copyrighted material had become a norm. One person had conveniently put my research report on a Facebook group with over 2000 members. All this has been a pain to deal with. I have the names and voice samples of the culprits here but have resisted in going ahead as they are young professionals with a few decades of work life left ahead of them.
In my nine years of online activity I have never backed away from an argument. But those arguments had always been with people whom you knew existed. And not with people who just had a mischievous intent where one person created half a dozen identities and kept posting across the web. I refuse to be drawn into a fight where my opponents identity and existence remains hidden from the real world.
I am willing to argue with anyone on anything - anytime. But the person should first lift his veil and reveal his identity. As I always say internet blog sites are a funny place. It is an arena where people who buy 50 shares scream the loudest while the ones who buy 5000 don't write they just read.
I have always believed that people will value integrity, over intelligence and intelligence over wealth. I have played the game fairly for all the past nine years and need no proof from anonymous onlookers to prove the same. My subscribers most of whom I have known for almost a decade continue to back me on this with full might and strength.
It is true that Basant's Corner was creating ripples. Who likes to see people learn and earn - both at the same time? Business strategy suggests that clients should be educated only up to a point and not beyond it. But I went ahead as my subscribers were not clients to me - they were a part of my extended family.
I have had requests from people as far as Australia & America and as near as Dubai that they are willing to fly down on 24 hours notice to any place that I suggest to vouch for my credibility. My inbox is full with hundreds of mails of appreciation and accolades. Thank you all for your help and support. I wish I could have reciprocated the same by being with you for ever.
People come to the market to make thousands. At Basant's Corner we made crores. It was a collective effort where people postponed buying off houses; cars and jewelry as they embarked on a journey to financial freedom through stock market investing.
Most of them have succeeded and the others are well on path to it. Maybe this worries the onlookers.
It isn't easy to create reputation in the online world. The reputation and support that I have created is easily the subject matter of envy for many. It has disrupted thought processes all across. Moreover, it has encouraged people to be smarter in their financial dealings making them better managers of their own money. Maybe this also hurts. Who knows?
No one becomes rich by envying others; no one grows in life by feeling jealous. Being envious and jealous doesn't help one to swallow someone else's gain with a little less pain either. In all it just increases the suffering. But that is not my problem as I have always tried to learn and excel rather than abuse and insult.
Then there is this talk of me blocking off people on Twitter. This is true. If you have an intelligent discussion to make I welcome you with open arms but if you just have an axe to grind - my doors shall remain closed for you. I do not engage in needless accusations and unnecessary fights so the best thing to do is to raise the boundary wall of my house.
Guys, we talk of our 5,000 year old culture; we talk of India becoming an economic superpower can we do that if we keep engaging in mindless mudslinging? Had I been a thick skinned hippopotamus engaged in cutting corners I would have continued to run Basant's Corner instead of closing it. Someone told me that politicians get insulted all the time but still do their job. My answer was 'Maybe that is why I'm not in politics'.
No one closes down a business which is in its prime. I could have doubled subscription rates and kept back 80% of my subscribers but making money wasn't as important as sleeping well at night. I never took this job as a business or else I would never have closed it.
All this talk of me closing this out of fear is as bizarre as the other allegations. At an oportune time I might show as to why I have got nothing to fear about. But I am unwilling to open my defence in front of all and sundry.
My members have been under my skin to ignore this even as my phone rings continuously. But once a decision has been made we can't go back.
My final message for my friends who are so near and dear to me remains the same:
'Dare To Dream with Stocks
&
Invest without fear'
I wish you all the very best in the times to come and my sincere apologies again for leaving you midway like this.
Maybe life has a bigger role for me. Will surely come back to you then.
I look forward for your support and well wishes.
Yours Truly,
Basant Maheshwari
The question of reconsidering does not arise at all. I realised that I was giving more than what I was getting and beyond a point the equation seemed unfair to me.
[QUOTE=DennisTheMinace] Dear Basantji,
In my opinion you should reconsider your decision. Just ignore the backstabbers & carry on relentlessly with all your might. Although I have not been subscriber to BC but I have gone through your book "The thoughtful Investor" & found it extremely�informative & a true guide to investing from indian stock market standpoint.][/QUOTE]
Hello Basant Sir
I just wanted to say you thanks to make me believe that money can be made in stock market. Before being destroyed by tips and trick from friends and relatives and almost decided to go out of equity, I bumped myself into TED. Its an ocean of knowledge for me. I learned the basics of investing and found my investing style with time.
THE THOUGHTFUL INVESTOR still remains a number 1 book on Indian stock market.
Thanks a lot Sir.
Regards,
Dhananjay
Thanks Dhananjay just remember that protecting capital is more important than growing it.
Sir, thanks for sharing the your knowledge and experience with us through basant corner. I can announce anywhere, that i am one of the many who benefited tremendously (both knowledge and money) by subscribing to basant corner.
Certainly closing basant corner is heart breaker for me. But i understand your emotional part in that. Again positively i hope we will have your guidance in future .
One last request from me - Sir after some time, please think and find a way to collaborate with us (PMS, Mutual fund ?].
Basant,
Enjoy your much needed break, time out of these will get you more strength...
Just a question are you planning to close TED as well...?
I have never invested in any of the companies you recommended but I always took the fundamentals aspects of research that you recommended and I have been making a great returns for past 5 years...I guess that could even beat your recommendations...but I always believe the credit is yours...You didn't give fish but taught to fish...
Basant Sir Please don't read further lines as it is meant for others in TED.
TEDs,
Basant feels something let him take his time. Meanwhile we can still feel TED alive I am lonely in TED trying to keep it alive...Basant is a Teacher by profession so he can never stop teaching that is the trap for any Teacher...He will be back teaching us...so just keep TED alive till he comes back...
Let us see. Nothing like that for now.
[QUOTE=vmkriss] Sir after some time, please think and find a way to collaborate with us (PMS, Mutual fund ?].[/QUOTE]
Hi basant,
i have been reading warren buffet letters since 2008 (all letters so far published) and reading your post and equity desk as well.
I have investing since may 2008 (height of stock market crash) ,after reading all available material for six months.
my method of investment: I have chosen companies with high moat value and invest couple shares every month systematically. I am a buy and hold fundamentalist and so far not sold a single stock.
my return on investment on average is 16% Per annum (range is between 6%-36% PA of the stocks i hold)
thanks for your insight, I am able achieve goal of 15% PA return for the 7 years.
I plan hold stocks for 35 years (when my age is 65) 7 years gone and 28 years to go
I hope the power compounding works for me
Nambi
chennai
Sad News. You have always been an inspiration.
Dear Basant
Even though the journey of BC was short, it was a rich and rewarding experience. And will forever be grateful to you for recouping my massive losses of 4/5 years. More than the recovery, it is the knowledge of getting into good companies and the discipline and balance to be maintained at all times which is the most valuable lesson that you have imbibed in us....Thanking you once again, sir and wish you the very best in your future endeavours
Posted on:6/30/2015 7:34:01 PMbasant
Good to know that you are financially free. Now just retain the portfolio at all costs because the lure of returns illusions the risk - most of the time.
[QUOTE=Mandrake36] While friends and colleagues were busy trading with a few thousands here and there, I steadily invested, nudged on with your guidance and started growing my lakhs into tens of lakhs and tens of lakhs into more than a crore in less than 3 years. All this, without having to sacrifice any sleep/worry about losing my profits through bouts of fluctuating markets. While I couldn't convince any around me to be BC subscribers, they knew I was upto something when I left my well paying job at a very reputed MNC IT firm in Jan this year to be on my own.
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Salute your sharp and focused mind in picking some gems early on and more importantly your resoluteness and handholding during crucial junctures to create a wonderful life for us and our families.
Although I am saddened at the turn of events with pseudo-masked-envious-mudslingers, I certainly hope & pray - May your ilk increase so others like me stand benefited and turn into equity believers in the years to come.
Certainly want to be in touch and meet up on your visits to Hyderabad ! Best wishes ![/QUOTE]