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Preview: Author's Note -'The Thoughtful Investor'

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Topic: Preview: Author's Note -'The Thoughtful Investor'
Posted By: basant
Subject: Preview: Author's Note -'The Thoughtful Investor'
Date Posted: 22/Feb/2014 at 11:58pm

Authors Note


Dare to Dream with Stocks

 

Most investors can't figure out ki paisa jaldi banana hai ki jyaada?

 

April 11th, 2001, I was sitting in the computer lab of a software training institute learning the art of using artificial intelligence to solve human problems, even though my mind remained nervously fixated in anticipation to the results that Infosys would report. The results came in quite early with a  lower profit guidance of 30%, down from the 100% growth that the company was generating which sent the stock crashing down 17% and with that the entire market nosedived further into an abyss. As prices fell unabated, I was getting mentally prepared to the risk of my financiers rushing in to sell my over-leveraged accounts due to my inability to arrange further cash to meet up to the margin requirements.

The past couple of years had been disastrous for us. After my father passed away in October 1999, the Government of Jammu and Kashmir cancelled our mining lease, forcing us to leave our full fledged gypsum mining project without compensation. The project had sucked in all our savings and a little more, borrowed from friends and relatives and there seemed no recourse left. The battle was now to be fought in the courts and though we obtained a stay against the government's decision, the fight had to be given up as we ran out of money to pay the lawyers. As we relocated back to our family property in Kolkata, I was left without work and income. At that time, a friend suggested that anyone who could write software codes and move out to the U.S stands to make around $50,000 to $60,000 a year and hence I joined a software training institute so that the next phase of my life could be better than the earlier one. But no sooner had I joined this software training institute, the technology bubble was pierced and the entire market seemed headed for a brutal slowdown.

With nothing to do and the fees for software training course deposited I was half heartedly learning the skills which were the flavour of those times. However, I remained active in stocks with a portfolio that consisted of names like DSQ Software, Silverline, Pentamedia, Global Tele Systems and Sri Adhikari Brothers - all under leverage. These names reflected more of my ignorance and psychological build up rather than my intelligence and stock picking skills.

These stocks were far below their all time highs even as the story had folded for good. Despite this, I continued to hold them with the solitary hope of selling them out on a bounce. When a defeated investor waits for a higher price to sell his losers all that he gets in return is a new wave of selling that takes his shares to an even lower level. The same was happening to me as I continued to save my stocks from being sold by trying to answer margin calls by stretching to the maximum, till it reached a point on that April afternoon, where I could take it no more. As my financiers started to liquidate my portfolio to recover their dues, the damage was complete as it brought a long awaited closure to my first romance with the stock market.

In spite of this, I always thought that the stock market remained the only way to make a lot of money from a few. With nothing to do, I started to look for an activity that could be initiated with minimum capital and at the same time help me retain my independence. Even though I was academically qualified, taking a job was out of question as it would not let me follow my passion so the only option left was to become a teacher by starting a tutorial centre. There was a serious reluctance to take teaching as a profession because a few months back I was running a multi-crore gypsum mining project and the descent looked a little too insulting for comfort. But as beggars can't be choosers, I took to my new found profession with open arms and converted a section of my house to a learning center so that I could earn some money to make ends meet and also put it into stocks. I dared to dream with stocks to become rich - again!

While I used to take private tuitions during the morning and the evening, I spent time reading about investors who had made it big from the market. Though I had been investing for long, looking at stocks did not seem the same after that. Over the next few years, I followed it up with at least two hundred books on investing and each book increased my level of understanding both about stocks and the businesses that they represented. Price no longer looked the same as value and I learnt that good stocks could stay down even while the bad ones could move up uninterruptedly for a while - both without reason. My early years were wasted in searching for the low P/E stocks that were hitting their 52 week lows which was a classic way to lose capital. I experienced that there was more to stock picking than just the P/E ratio and the dividend yield. I also learnt that investing is not just a formula driven exercise but also a feel based endeavour. One has to feel about the product, business and the management in equal importance to sales, profits and valuations.

I also learnt the most important aspect of investing is that markets pay for growth and a company that is showing above average growth is like the child who always comes first in class - he always gets what he wants.


THE BIG BREAK:

I was desperate to get some capital to buy stocks as I was investing with just a few thousands each month. It was clear that the quantum of investment would have to be raised if I were to make a decent return from this game  One option was to sell my life insurance policies which in any case were under default due to my inability to pay the premium on time. Surrendering a life insurance policy to raise cash for investing in stocks was as blasphemous as it could get. However, I either wanted to have too much or nothing so jumped in to surrender my insurance policies and replaced it with a term plan instead.

Meanwhile, I persuaded my mamaji (maternal uncle) to lend me some shares so that I could borrow against the same to invest in the markets. The timing of these events could not have been more perfect. As I raised cash against the borrowed shares, the cheques from my surrendered policies also dropped in and they coincided with the 9/11 crash of the twin towers. This gave me a chance to double and triple my money in the beaten down software names like HCL Technologies and SSI in a few months. These profits were then diverted into Eserve, Mphasis BFL and Mastek as IT enabled services and BPO seemed to be the new theme at that time.

I continued to buy and invest in shares instead of diverting the quick income to the safety of fixed deposits and bonds. My plan was clear, I was willing to have very little money against an outside chance of making lots of it.

I took investing a little more seriously after 2001 because I knew that I did not have a second chance. The option of losing money on capital created out of leverage was simply unacceptable. Maybe that is why I have always been paranoid of the risk and try assessing the probability of permanent destruction of capital from any investment before evaluating the upside triggers of the same.


OPENING UP MULTIPLE SOURCES OF INCOME:

Investing out of savings was one way to increase my stock market exposure; the other was to look at new sources of generating income. To augment my income stream, I started conducting classes on stock market investing, took up mutual fund distribution and engaged myself in many other activities so that I could put more money to work.

While increasing income was one way to put more money in stocks, taking leverage on the existing holdings was another. I followed these two things by postponing expenses and for which I was more than adequately supported by my family members. For instance, I did not own a car till 2010 when I bought a used Honda City. The idea of buying a depreciating asset did not make sense to me especially when my investments seemed to be going up ten, twenty and forty times, I do not remember taking a holiday till 2010 just because there was an opportunity cost attached to each rupee of spending.

I could have of course taken a holiday and bought a car in 2003 itself.

Overall, my little story was backed by a firm belief in stocks and by the advent of new investing opportunities that came my way during that time. Given a chance again, I seriously doubt if I would be able to replicate again what I could in the last 13 years. This book is all about my journey in the stock market and my decision to dare to dream with stocks.


MY EARLY YEARS:

I was born in an educated middle class family but was just about mediocre at studies. Being a not so bright student and not a dumb one either meant that I had to go with commerce in high school. Surprisingly, I became a better student the moment I took up commerce and in about a few months I was topping the class and was the school topper in the high school exams which got me an admission in Shri Ram College of Commerce (SRCC). Though I went to SRCC, I returned back in a week as I could not handle the ragging at all!

I finally graduated from St Xavier's College, Kolkata and almost simultaneously got a Cost Accounting degree as that was the only course that could be pursued with graduation at that time. I have always felt that education does not matter too much as to how an investor performs in the market. Making money from stocks requires as much skill as it needs an emotional balance and while there are many people who can display their skill at picking stocks there aren't too many who can be confident at having the right kind of emotional balance when it comes to playing the investment game.

Earlier, I used to think that having a finance background is essential to succeed in the market but now I am convinced that having a degree in finance is essential if one has to work as a research analyst but not so much important if he wants to be a successful investor. Personally, I rarely get into the depth of research as many think I do because the big picture call is more important to me than the critical line by line analysis.

As a one man research team, I focus very little on financial modelling. I have no subscription to any real time newswires nor have any standard financial software for running screeners or any query at my command. All my information is sourced freely from the internet.  Even though I read brokerage and analyst reports, the underlying interest remains to look for the general opinion on the street rather than to form my opinion on a stock.


WHY DID I WRITE THIS BOOK?

There are hundreds of books on investing and the idea to write one more was crystallized because I thought that my effort would provide a different perspective from what actually exists in the marketplace. This book 'The Thoughtful Investor' is thus an attempt to combine the various facets of investing and bring them under one roof so as to present an investor with a strategy that should generate consistent long term returns irrespective of where the overall market is going.

Having been actively involved with stocks for over two decades now, I have understood that the stock market is a game of snakes and ladders where it is as important to look for the ladders as it is to avoid the snakes. Taking this theme forward, this book is a reflection of my strategy in guiding an investor to make enough from stocks, so that he becomes - financially free.

I have seen that the general investor still thinks about stocks as a money making exercise rather than a wealth creating endeavour. How many investors come to the market with the firm belief of making over Rs 5 crores from a start up capital of Rs 10 lacs is a question whose answer I keep looking for, all the time. Making an investment grow fifty times in twenty years can be achieved by generating a compounded annual growth rate of 22% only and while critics will argue with the inflation adjusted value of Rs 5 crores, twenty years from now the better thing to do is get to that figure first and worry about inflation later on.

In reality, most members of the investing community lack that perspective.

Taking early profits from good companies and sitting with losses on the bad ones just because the purchase price is above the current market price forms the critical attribute of the unINVESTOR . A naive investor also looks for low priced inferior businesses with little emphasis on the management factor. These investors remain fixated with valuations and are more than likely to miss any multibagger opportunity either by ignoring the stock because of its high valuation or by selling out too early in the fear of losing back all the accumulated profits.

I have tried to address these common investor attributes so that the small investor achieves the necessary skill to become a large one.

None of the books written so far have comprehensively tried to cover the Indian markets. My attempt at sharing my ideas and experiences are backed with real examples of stocks from the Indian market with regard to both the companies that made it big and those that could not. I have personally tried to share my experiences as far as possible to support the practical angle to the whole debate. These chapters have also been put up with relevant info-graphics to increase the retaining power of the reader.

My children also remained the biggest source of inspiration when it came to writing 'The Thoughtful Investor'. A father always wants to share his knowledge and ideas with his children. As my children are small, I sometimes wondered on the mode of this knowledge transfer if a car that I was travelling in, rolled over the edge of a mountain cliff. This book would therefore come in handy if my kids were to decide in becoming full time investors when they grow up.

This book took me over twelve months to write and is an arrangement of my experiences gathered over the last twenty two years of my investment career. Even though I have been in the market since 1992, I wasted the first nine years and interestingly what I did in the next thirteen was diametrically opposite to what I used to do in the first nine. I learnt later that an investor can never expect to succeed with just one strategy. Markets change all the time and the participants have to keep evolving to the new dynamics if they are to become accomplished players of the field.

I have tried to share all that I know about stocks in this book. The book pretty much defines my investing strategy both in style and scope that has helped me survive and profit from this game for the past several years and I remain convinced that the same would help the reader in his journey to achieve financial freedom - through stock market investing.

After reading the book you can log in to the forum at http://www.theequitydesk.com - - www.theequitydesk.com for a discussion on the contents of the book along with other fellow readers where I would also try and participate so that the interactive feature of the web is retained with the old world of paper. We can open separate topics for each of the sections or chapters so that the process of learning and sharing can be expanded on a larger scale.

I also look forward for your reviews at http://www.thethoughtfulinvestor.i - - www.thethoughtfulinvestor.i n which is presently under construction and should be up and running soon.


Wishing you all the best,


Happy Investing,


  

Basant Maheshwari

 

 

 



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'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in



Replies:
Posted By: raviteja02
Date Posted: 22/Feb/2014 at 12:35pm
cannot wait any longer Basant for the book... The cover page is excellent with minimalist approach.
All the very best.


Posted By: bullzi
Date Posted: 22/Feb/2014 at 1:06am

There is no doubt in my mind that this is going to be the bible (or shall I say the Bhagwat Gita) for investing in stocks in India. Brilliantly written, looking forward to getting my hands on it.
All the very best.

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It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong - George Soros


Posted By: Avora
Date Posted: 22/Feb/2014 at 6:37am
Looking forward to the book. Is an ebook version also in plan?


Posted By: catchsudipto
Date Posted: 22/Feb/2014 at 9:45am
WOW.....what a start ......great yaar....surely cant wait f0r the book.....I am sure  it will be a dhamaka...congrats yaar


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Make your Life as simple as possible.


Posted By: zulfi
Date Posted: 22/Feb/2014 at 9:49am
excellent sirji , truely u r my inspiration....

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U CAN WIN A HORSE RACE BUT U CANNOT WIN RACES


Posted By: zulfi
Date Posted: 22/Feb/2014 at 9:51am
in 2011, i was just about to quit investing or one can say trading but some how luckily i got in touch with TED,it has changed me completely

thank sir

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U CAN WIN A HORSE RACE BUT U CANNOT WIN RACES


Posted By: basant
Date Posted: 22/Feb/2014 at 10:02am
Originally posted by zulfi

in 2011, i was just about to quit investing or one can say trading but some how luckily i got in touch with TED,it has changed me completely

thank sir


Thank you. There can't be a better testimonial than this.

-------------
'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in


Posted By: manish_okhade
Date Posted: 23/Feb/2014 at 1:25pm
Basantji,

Is there any way for advance booking? I love buy a book signed by you :-).

Seems like a very inspiring work from your hard work.

Good luck!

Regards.


Posted By: basant
Date Posted: 23/Feb/2014 at 2:54pm
Originally posted by manish_okhade

Basantji,Is there any way for advance booking? I love buy a book signed by you :-).Seems like a very inspiring work from your hard work.Good luck!Regards.



Thank you, we will start taking orders in about eight to ten days. Will keep you all informed on this.

Will surely put my message for best wishes on the same.

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'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in


Posted By: pawankhatri
Date Posted: 23/Feb/2014 at 7:40pm
Sir, would you share a list of those 200 investing or other books you read? Or may be a shorter and more relevant list of books that every investor must read?
Regards.


Posted By: LearningToFly
Date Posted: 23/Feb/2014 at 8:39pm
Basant Jee, when would it come to flipkart or online stores

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Success... at all cost.


Posted By: rohit1889
Date Posted: 23/Feb/2014 at 11:20pm
Basantji, on the day of launch of the book, the website www.thethoughtfulinvestor.in will surely behave like irctc server.. There will be hell a lot of traffic.

Looking forward to reading your book.

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If you're prepared to invest in a company, then you ought to be able to explain why in simple language that a fifth grader could understand, and quickly enough so the fifth grader won't get bored.


Posted By: bearorbull
Date Posted: 23/Feb/2014 at 11:54pm
Congrats sir, Even I am one of those guys clueless in markets until I found TED Smile


Posted By: RahulB
Date Posted: 23/Feb/2014 at 9:10am
Very impressive preview note! In a small note itself, it becomes very clear that this book is much more than equity investing ...it is a beautiful real world story of how one can turn adversity into an opportunity....importance of openness to learn at each stage of life...and importantly determination to succeed.

Hats off to you!


Posted By: basant
Date Posted: 23/Feb/2014 at 10:54am
Originally posted by pawankhatri

Sir, would you share a list of those 200 investing or other books you read? Or may be a shorter and more relevant list of books that every investor must read?
Regards.


I had it on Linkedin but somehow that has disappeared but we have a thread called Gitas and Bibles of Investing here where you can get a lot of those names.

-------------
'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in


Posted By: basant
Date Posted: 23/Feb/2014 at 10:58am
Originally posted by RahulB

Very impressive preview note! In a small note itself, it becomes very clear that this book is much more than equity investing ...it is a beautiful real world story of how one can turn adversity into an opportunity....importance of openness to learn at each stage of life...and importantly determination to succeed.Hats off to you!


Thanks Rahul, have tried to make it as practical as I could because the underlying theme isn't just about picking the right stocks but achieving financial freedom out of Stock Market investing.

Originally posted by bearorbull

Congrats sir, Even I am one of those guys clueless in markets until I found TED 



Feels good to hear that.

Originally posted by rohit1889

Basantji, on the day of launch of the book, the website www.thethoughtfulinvestor.in will surely behave like irctc server.. There will be hell a lot of traffic.

Looking forward to reading your book.


Your apprehension is my hope!


-------------
'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in


Posted By: mpbajaj
Date Posted: 25/Feb/2014 at 12:48pm
1st People want jyaada (lots of) & jaldi bhi(fast also) once they are in stock market. For most of us stock investing means easy money because one of your friends has made duguna or tinguna in some god knows which stock. You want to imitate him & probably that opportunity was never there or already gone. 2nd What Basant has done at his tender & dangerous age of 19 years (lots of aggressive hormones rushing to centre of your body & not enough inhibitory signals in brain) is he has taken a conscious decision of creating wealth (not fast money) through stock market. God only knows how a teen get convinced of this route when even his survival was on stake due to arbitrary nature of our government in the name of socialism. 3rd- Next best thing Basaant did was to read 200 books by successful investors (reading good books are like finding good mentor & that also not one but many). 4th thing he did was making lots of new mistakes for 9 years & learning from them, but he persisted with his daring dream of getting wealthy. Most of us are making the same classical mistakes like finding Low P/E loss making stocks, clinging to loss making shares, avoiding High P/E growing businesses. Difference is we do not try to learn from them. 5th- is Basant learned from books & his mistakes that Investing is not only numbers & quick formulas but knowing the people & business behind stocks & have feel about those. To have feel you have to have deep knowledge & understanding. Feel is just another name for the reasons we are not able to communicate at that period.Feel is at subconscious level(which is bigger part of brain than conscious reasoning brain). In general talk when we say dil se(from heart) is nothing but feel. Heart has no conscious or subconscious thinking power. 6th-His knack for making things easy & simple is evident in the analogy of “child being first in class gets what he want TO “above average” growing companies & getting higher valuation in the market”. Daring to dream to get rich in stock market comes with the corollary of being ready to take the pain of loss from time to time. Brush with poverty or not having enough money by J & K episode made him cautious of taking only educated RISK. There is no such thing as risk free investment; hence he is always wary of permanent capital destruction before looking for upward triggers. 7th Willing to have very little money against an outside chance of making lots of it is not an option for most of us, but creating wealth with Basant is. Simply read the book & join Basant Corner. 8th Postponing expenses for personal gratification(buying big car, changing mobiles to keep up with jonasses), understanding what is a depreciating asset, knowing the power of compounding both in positive side & also in negative side, choosing right insurance policy (term) instead of loss making “with profit” LIC policies etc are new concepts for most of common people. What is good loan & what is bad loan is difficult for common man to understand. Using limited leverage to create wealth seems risky to most of us. Quantum of money for compounding has to be a decent amount, with small amount Time has to be long which may be impractical. Myths of stock market like “Buy Low Sell High” & many more are difficult to understand. Low or High in comparison to what. Low PE are mostly loss making stocks, High PE makes us to book profit early. Without understanding business it is impossible to understand the difference between Price & Value of a stock. 9th Surprisingly, I became a better student the moment I took up commerce and in about a few months I was topping the class- was simply finding his true interest of life. 10th Giving limited importance to analyst reports or pink papers or biz tv channels & more importance to Emotional or behaviour is essential for success. In fact most of these create anchors in our mind eg. Analyst saying page has maximum valuation is X rupees & we sell out near about that price 11th Analogy of the game of snake & ladder to stock market investing is another example of simplifying difficult concepts. 12th Reading a good book on investment with Indian examples was a long standing wish of most of the serious investors. 13th Seriousness of book writing (which may not be very profitable for Mr Basant in money terms) is evident by his admission of transfer knowledge to his kids. 14th- “Investor can never expect to succeed with just one strategy. Markets change all the time and the participants have to keep evolving to the new dynamics if they are to become accomplished players of the field”. Even after reading the book it may not be easy to change strategy with time unless one is a full timer, which most of us are not. joining BC will be much easier for me at least. 15th Lack of motive to profit from book is evident by creating a separate online platform to discuss the book for continued teaching; it will be an ongoing cost free coaching by a Master Investor. 16th Reading a 450 page book is not for everyone, but I feel who ever want to have financial freedom should read this book several times. 17th & last but not least- Basantji you are looking dashing. Please release this book as early as possible & write a simple 50 to 80 page manual or companion to this text book of investment. Writing a manual may be very difficult mentally for you because of your vast knowledge of the subject & you being a good teacher who wants to teach & give all the knowledge to his pupil. WISH U ALL THE SUCCESS.


Posted By: basant
Date Posted: 25/Feb/2014 at 1:25pm
Thank you Sir, for the elaborate and impeccable analysis.

Originally posted by mpbajaj

1st People want jyaada (lots of) & jaldi bhi(fast also) once they are in stock market. For most of us stock investing means easy money because one of your friends has made duguna or tinguna in some god knows which stock. You want to imitate him & probably that opportunity was never there or already gone.

2nd What Basant has done at his tender & dangerous age of 19 years (lots of aggressive hormones rushing to centre of your body & not enough inhibitory signals in brain) is he has taken a conscious decision of creating wealth (not fast money) through stock market. God only knows how a teen get convinced of this route when even his survival was on stake due to arbitrary nature of our government in the name of socialism.
3rd- Next best thing Basaant did was to read 200 books by successful investors (reading good books are like finding good mentor & that also not one but many).

4th thing he did was making lots of new mistakes for 9 years & learning from them, but he persisted with his daring dream of getting wealthy. Most of us are making the same classical mistakes like finding Low P/E loss making stocks, clinging to loss making shares, avoiding High P/E growing businesses. Difference is we do not try to learn from them.

5th- is Basant learned from books & his mistakes that Investing is not only numbers & quick formulas but knowing the people & business behind stocks & have feel about those. To have feel you have to have deep knowledge & understanding. Feel is just another name for the reasons we are not able to communicate at that period.Feel is at subconscious level(which is bigger part of brain than conscious reasoning brain). In general talk when we say dil se(from heart) is nothing but feel. Heart has no conscious or subconscious thinking power.

6th-His knack for making things easy & simple is evident in the analogy of “child being first in class gets what he want TO “above average” growing companies & getting higher valuation in the market”.
Daring to dream to get rich in stock market comes with the corollary of being ready to take the pain of loss from time to time. Brush with poverty or not having enough money by J & K episode made him cautious of taking only educated RISK. There is no such thing as risk free investment; hence he is always wary of permanent capital destruction before looking for upward triggers.

7th Willing to have very little money against an outside chance of making lots of it is not an option for most of us, but creating wealth with Basant is. Simply read the book & join Basant Corner.

8th Postponing expenses for personal gratification(buying big car, changing mobiles to keep up with jonasses), understanding what is a depreciating asset, knowing the power of compounding both in positive side & also in negative side, choosing right insurance policy (term) instead of loss making “with profit” LIC policies etc are new concepts for most of common people. What is good loan & what is bad loan is difficult for common man to understand. Using limited leverage to create wealth seems risky to most of us. Quantum of money for compounding has to be a decent amount, with small amount Time has to be long which may be impractical. Myths of stock market like “Buy Low Sell High” & many more are difficult to understand. Low or High in comparison to what. Low PE are mostly loss making stocks, High PE makes us to book profit early. Without understanding business it is impossible to understand the difference between Price & Value of a stock.
9th Surprisingly, I became a better student the moment I took up commerce and in about a few months I was topping the class- was simply finding his true interest of life.

10th Giving limited importance to analyst reports or pink papers or biz tv channels & more importance to Emotional or behaviour is essential for success. In fact most of these create anchors in our mind eg. Analyst saying page has maximum valuation is X rupees & we sell out near about that price

11th Analogy of the game of snake & ladder to stock market investing is another example of simplifying difficult concepts.

12th Reading a good book on investment with Indian examples was a long standing wish of most of the serious investors.

13th Seriousness of book writing (which may not be very profitable for Mr Basant in money terms) is evident by his admission of transfer knowledge to his kids.

14th- “Investor can never expect to succeed with just one strategy. Markets change all the time and the participants have to keep evolving to the new dynamics if they are to become accomplished players of the field”. Even after reading the book it may not be easy to change strategy with time unless one is a full timer, which most of us are not. joining BC will be much easier for me at least.

15th Lack of motive to profit from book is evident by creating a separate online platform to discuss the book for continued teaching; it will be an ongoing cost free ****ing by a Master Investor.

16th Reading a 450 page book is not for everyone, but I feel who ever want to have financial freedom should read this book several times.

17th & last but not least- Basantji you are looking dashing. Please release this book as early as possible & write a simple 50 to 80 page manual or companion to this text book of investment. Writing a manual may be very difficult mentally for you because of your vast knowledge of the subject & you being a good teacher who wants to teach & give all the knowledge to his pupil.

WISH U ALL THE SUCCESS.


-------------
'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in


Posted By: footy
Date Posted: 25/Feb/2014 at 8:48am
Basant - its great to read about how you overcame what life threw at you. Even if you were a complete failure at investing, I would still be impressed at your attitude. All the best!


Posted By: basant
Date Posted: 25/Feb/2014 at 9:34am
Originally posted by footy

Basant - its great to read about how you overcame what life threw at you. Even if you were a complete failure at investing, I would still be impressed at your attitude. All the best!



Wonderful words of encouragement. Thank you.

-------------
'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in


Posted By: ROHIT13
Date Posted: 07/Mar/2014 at 3:05pm
Dear Sir,

May i now which publisher is going to publish this book?

Regards

Rohit Garg


Posted By: basant
Date Posted: 17/Mar/2014 at 1:49pm
http://www.theequitydesk.com/forum/forum_posts.asp?TID=4655&FID=51&PR=3 - Book your copy of 'The Thoughtful Investor'

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'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in


Posted By: sumitraepic
Date Posted: 07/Apr/2016 at 5:38pm
Nice posting sir, please keep sharing this precious information with us. Traders can easily understand all the investment points with the help of this post. 

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http://www.epicresearch.co/commodity-tips/ - Commodity Tips



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