I felt my readers here will also like this money journey of mine which is continuing infinitely. Therefore, I am reproducing it here :
"I was investing in stock market sporadically, often and on, during last 3 decades almost.
First time, I, along with my brothers, invested in primary market. Those days, primary market was wonderful. The regulator used to fix the
price or approve the price of new issues at very attractive prices. We
used to get allotments almost always and used to sell our new shares
immediately after we receive share certificates at around 30% and above
the allotment price. We felt good.The money this earned went for our 3
sisters marriages. Thereafter, we stopped.
Much later, I and a
friend started investing in secondary market. I used to spend at least
Rs.100 in studying a company from numerous newspapers, periodicals etc,
before investing a Rs.1000 in it. Our investments were not big. But, we
did make reasonable profits.
Sometimes 100 to 300 percent also and some
times 50% and above. Then, we sold and switched to other companies. At
one time, I sold most of the shares and constructed my present, small
house. Then, somehow, I again stopped my investments.
Much later,
after I retired from service, I started to think of investing again. I
opened account with ICICIDIRECT in 2009, and from then on, I started
investing my pensionary benefits in stock market.
But, this time,
there is no need for a manual broker for buying and selling, as ICICIDIRECT facilitates instant buying and selling on online Basis.
The old hazards of manual brokers is almost completely avoided. There is
much greater transparency in dealing with ICICIDIRECT.
Ok. It
doesn't mean that my stock investments were a complete success. I did
make my errors, small and big. I made many emotional purchases. They
produced a few successes and a few failures.
To stop making such
emotional buying and selling, it took a number of years. But, my
emotional buying was also backed by enough research. But, I failed to
sell in time, when a company was making stupid mistakes for several
quarters. So, not selling in time was costlier than not buying in time.
I now find, I am not the only one to commit such stupid mistakes. The
most successful, well known investors also commit such mistakes.
But, on an average what is the percentage of annual return that you make is what finally matters.
Most investment advisers advice extreme caution with your pensionary
benefits. But, I went headlong with my money. I always pressed the
accelerator while my wife acted as timely brake periodically.
I
joined NSE certification courses and eventually became NSE certified
Market professional level 5 which is NSE's highest and a few other
certificates of NSE like Investment Champion etc. I did not go for SEBI /NISM
certification so far.
But, all this helped me to mature as an
investor. Now, I study the methods of Warren Buffet, Rakesh
Jhunjhunwala, Porinju Veliyath and a few others who are my great favourites.
My
initial investment is small but has grown 350% in 8 years, which is not a
big deal but not bad. I now, know, why Porinju and Rakesh are so
bullish about Indian stock market.
I am a long term investor and
never go for day trading or Futures and Options. I am happy about what I am doing
and it's results. Like Porinju, I believe that the greatest investment
India has made is Modi. If Modi stays, India's success is guaranteed.Some people do not agree,though. But, I believe, Modi is a great Investment for India, though, he is not indispensable. No one is.
I am becoming a better investor everyday. I just want to equal the Rate
of progress of Porinju, though, it is impossble to equal him in absolute
rupee terms, from my low levels.
Yet, the money journey continues and is highly satisfying."
yours sincerely,
(V.Vijayamohan)