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
Basant Ji,
Good Morning.
I can understand the pain and discomfort you are going through right now which have forced you to close BC. I know this world itself is very cruel to people who wants to do something good for the people, forget about online world, that's unreality within reality. It's quite a "Human" nature Basant Ji, neither you nor I can help it. There are certain characteristics of the "Human" nature that can't be avoided. We have have to live with it and digest it. I remember a line from Gita, which I always apply in my life - "कर्मण्येवाधिकारस्ते मा फलेषु कदाचन। मा कर्मफलहेतुर्भूर्मा ते सङ्गोऽस्त्वकर्मणि॥", and that's exactly what I want to say you at this stage of your life.
Karmanye Vadhikaraste, Ma phaleshou kada chana � You have the right to perform your actions,but you are not entitled to the fruits of the actions.
Ma Karma Phala Hetur Bhurmatey Sangostva Akarmani � Do not let the fruit be the purpose of your actions, and therefore you won�t be attached to not doing your duty.
"When we help someone, we don�t do it for the sake of something in return, whether we are rewarded for our actions or not, this is not our concern. And when we help someone without worrying about our own gains, this is selflessness. We don�t think what are we going to get from that. The importance is that as a human being we have been able to help someone."
What I am trying to say here is that you can't just leave like that. You have done all the hard work for so many years for the betterment and benefit of the investor community, and you must continue as that's your duty. You should not feel disheartened or dejected by few people who wants to pull you down, instead you should stand tall and continue as you used to do. I wish my voice reaches you loud and clear, as I can't see people break down like this. You have been doing good work, continue doing it, no one is here to judge you. You know what you are doing. So, all the best and "carry on".
That's my simple two word message to you. Hope to see you soon with a "Hello" message ;)
- Sourajeet
([email protected])
Good morning sirji
Loved every moment of 8 years association.
Thank you for the wisdom that you have shared and I am sure will continue to do so. Learned a lot from you via TED and a short time in BC and reading TI and of course meeting you in person was awesome.
You have made a difference in my life!
Dear Basant,
Wish you all the best for you r future endeavors!
Guy Spier has explained very well why intellectuals should keep takers at a distance. The merely waste our energy. Even if we have to sacrifice a little to avoid them, I would say that the sacrifice is worth it.
I hope to see you more on TED. TED was a beautiful thing and I wish that it gets buzzing again.
Ray Dalio says that the foremost quality of a good investor is finding his/her balance. I would add that balance and anger don't go hand in hand.
~best of luck!
I use to read through TED and participate in discussions looong back.
So finally last few hours only. Tomorrow market will be there but no TED/BC. For last few years Ted/Bc was like market to me. I learned so many new things in life here. I wonder whether ever I will be able to learn even half of what I have learned from Ted/BC. I know it will be near impossible to find a Honest, caring down to earth person like you. For last 9+ years you are one of my biggest assets of my life. 30th June 2015 will remain as one the saddest day for rest of our life. Thanks for everything. Hats off to you. TAKE a Bow Sir.
Hello Basantji, Wonderful association of last more than two and a half years. Learnt a lot and enjoyed every moment. Could put large amount of money due to you only. My PF has gone up from 40 lac in Nov'2012 to now more than 2 crore. Thanks a ton for everything and kind regards.
Shocked to read your Good Bye message Sir. I have no words . My eyes are full of tears.
I learned a lot from you Sir and salute to your great advice to us which help me a lot in my life.
Miss you a lot
Warm Regard by my end of the heart.
Mahesh Bindal
Welcome Omshivayaji...
your profile pic says you have grown quite old! but certainly Rich!
Basantji,
I have benefited immensely from BC over the past 3 years. In addition to the gaining monetarily by more than expected portfolio growth, the foundations for successful equity investing have been ingrained firmly in my mind.
Even though I have been your reader from old TED days, my real gains started after becoming a BC member. This is because i could understand these things more clearly (more importantly by putting cash at work not theoretically by reading only books).
- Providing high allocation to best ideas
- Being lazy in taking profits from the table
- Cutting the losses quickly
- Not being afraid to bet on high PE stocks.
For the silly people who claimed that your appearance on TV talking about your stocks diluted your service - There is HUGE difference in coming to know of a good pick in 15 mins of TV talk and ability to build conviction to allocate more than 10% of your portfolio - this was BC forte in my opinion.
Although i would sorely miss BC, at least i am a better investor now compared to 3 years back.
Thanks for everything and all the best :-)
regards
Arvind
Posted on:6/29/2015 9:06:56 PMpankajinf
Your investment philosophy has changed my complete thought process towards equity investment. I was not fortunate enough to find you early enough, but would like to thank God that though late , I found you. In June 2014, after reading your book and watching your videos on you tube , I completely got convinced that you are genius in this field and subscribed to Basant Corner basic membership. In one year , I can confidently say I learnt much more than I learnt in prior 14 years of my equity investment.
The way you have helped average investor is quite amazing and I would like to thank from bottom of my heart for that. Do let me know , in case you come up with any other platform for sharing your knowledge in future.
Regards,
Pankaj