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tyler_durden
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Quote tyler_durden Replybullet Posted: 10/Sep/2008 at 8:13pm

Basant jee u mentioned about financial security...

 
If one has a million dollars then he might love to spend the life in carribean having drinks on the beach ... going around on cruise..having good time with hot chicks...Very few people will answer it differently....
 
Imagine u have 50 crores....Now what is it that u wud like to do??
 
2nd scenario..imagine u dont have any sort of security...Now what is it that u wud do even if u re not paid for it....
 
sachin tendulkar..lata mangeshkar..dhirubhai..richard branson..arnold schwarzenegger...sylvester stallone ... sehwag...etc belong to 2nd category...its this common link that is binding these uncommon people....
 
So is it that majority of us are born with fear of failure in our hearts or we grow up that ways??
 
Sir u must be the richest man on this forum Wink ... And i think u have found ur true callin in equities....
 
U were a tutor at one time...what made u leave that and enter equities full time?? and despite of the fact u suffered bad losses...i remember u once told me that u were washed out during IT crash....but u still came back and rest is all history...
 
U found ur true callin...and u didn't cared about losses i don't think u invest for making money...but u do it for the satisfaction that u get when a company which u have researched well outperforms.....obviously...money is a by-product....
 
I dont know where it is going...am writing whatever i am feelin like...
 
My only question is what made u start tuition classes and fare well at them..u must have been good that s y u were teaching few hundred students .....and when u to decide to call it quits and pursue ur dream???did u ever felt restless while u were not full time in equities?? and in the first place how u got interested in equities..was it by stroke of luck??? or u got successful and that success made u like them?? or was it the failure during IT crash that washed u out that it made u so resolute to perform well in equities???
If you aren't fired with enthusiasm, you will be fired with enthusiasm.
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basant
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Quote basant Replybullet Posted: 10/Sep/2008 at 8:32pm
Firstly it is incorrect to compare wealth we do not know who is worth how much and should let it be that way.
 
Internally I always had a belief that the big money will be made in equities everyone gets into equities for making money then once he has made some money he thinks that it is for fun if you get into it for fun you will lose a lot of money so first we have to be serious and once that is done investing becomes a hobby because that seriousness becomes a part of life.
 
I realised that teaching was making money for me and after a point I could miss the opportunity cost of teaching students because the other avenues of income were built. But in the initial days there was no option but to do everythging that one could to make money.
 
After a point one should estimate whether the incremental income from 10 hours of work is really significant. If not continue to work only if you are in love with your job but.
 
For example aperson with Rs 2 crores in financial assets and working for 10 hours each day making Rs 20 lacs post tax while doing something he does not like is actually doing injustice himself.
 
Another way that people screw themselves is to increase their desires buy abig car a home, go on long holidays and then work in aplace where Monday morning isn't so beautiful as the day preceeding that.
 
If you are getting out of your bed saying Oh God this is Monday it means you do not like your job but before quitting it is always better to do a valuation of what you are.
 
This topic needs a new thread!
 


Edited by basant - 10/Sep/2008 at 8:37pm
'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
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omshivaya
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Quote omshivaya Replybullet Posted: 10/Sep/2008 at 9:32pm
Originally posted by tyler_durden

 
Om ji can you tell me where i can find this aptitude test in delhi or NCR???
 
 
Tyler jee, I had such a person's contact number long time back..Searched for it after you asked, but not finding it!! Sorry. Confused
 
Why don't you search the local yellow pages or mtnl directory!!?
The most important quality for an investor is temperament,not intellect.A temperament that neither derives great pleasure from being with the crowd nor against it
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hallmark
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Quote hallmark Replybullet Posted: 10/Sep/2008 at 9:44pm

As Warren Buffett says,"Working in a job for the fact that It would look good on your resume, is like a young man saving sex for his old age."Just do whatever you like now!
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basant
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Quote basant Replybullet Posted: 10/Sep/2008 at 10:00pm
With due regard to Buffett it is far easier to say that when you have a lot of money rather then otherwise.
'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
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nav_1996
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Quote nav_1996 Replybullet Posted: 10/Sep/2008 at 10:41pm
I agree with Basant.

I think stuff like "true calling" are slightly western and industrial age concepts.

Imagine 500 years back your profession depended on family you were born in. Very miniscule % would go into other professions.
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hallmark
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Quote hallmark Replybullet Posted: 10/Sep/2008 at 7:55am
It was reported that Warren Buffett gave the same speeches in a major college in the US. He received a call from the authorities asking him as to what he had done?. Most of the students were setting up their own businesses after hearing him speak about "working for somebody whom you like".What better person than himself or herself.Most were reluctant to work for some other people.
Most of the volunteers of the Art of Living Course are people who eschewed their Corporate career or those who wished not to run the rat-race. A scientific interpretation of the functioning of the Art of Living and Huzur Radhasoami religions teaches that men were divided into kshatriyas, brahmins, vaishyas and shudras. The present age requires man to exhibit all the four qualities of valour, being business-oriented, pursuing knowledge and having the seva aspect.
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gcpradhan1
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Quote gcpradhan1 Replybullet Posted: 10/Sep/2008 at 11:24am
I think money is the most inevitable but with some limit should be the attitude. The demand for money can never be meet by the supply in an individual life. So the best approach, particularly in a country like India should be to:  
- First of all achieve financial security by doing whatever come on the way. If you get what you like is best, if you didn't that's also fine. After all we have one life and let's exeprince a varieties of things (As per Basant Jee it is 1 Crore, for anybody else living in a remote part of Orissa may be 50 Lacs and so on).
 
- After achieving reasonable amount of Final security then definitely give a try to what you like most, try hard, but never be too stubborn. Because, everybody has got many other dependents who should never face trouble.
 
Of course the above explanations does not reply to Tyler Jee's questions of [What is call of life?How you get to know that? Is it through Om Jee's Apptutute Test or I.Q. Test or any other ways out]. That part is the most complicated thing in life. Me too do not know what is best for me ? Hope there must be many more who do not what is best for themselve. But it should be everybody's target in life to do at least some what one like most !
Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years - Buffet
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