Knowledge a process

Over the last many years after interacting with people I still cannot understand human behaviour. I can only say that I tried doing something!

Over the past 3 days we did an event called the “India investment show”. Fund managers, analysts, company managements, come and make presentations – and the common man can walk in free and learn from these presentations. I inivited a few people (who would have all benefitted by coming). Many of them did not respond to the mail. Some of them confirmed that they will come, then did not come. Then there were some who called in to say they were not well. If you were to see the list of people who called in sick, I should be running a hospital – just for friends and students who are unwell! 2-3000 students of mine who have kept their emails current had got invitations – of course there is no way to know how many attended, my guess is none did. 1000 Relationship managers who have trained under me had received the invitations, and my guess is none of them attended. I have the pleasure of dealing with 3-4 mutual funds and 2-3 life insurance companies – None of the managers working there were present.

What is amazing is that most of them sell equity based products. Equities, Debt products and commodities are so deep and wide that you keep learning. However, all these ‘salesmen’ are clearly ‘passionate’ about equity when it translates to a nice salary and incentive or commissions in case of non-employees. Deep at heart there is no conviction about equity. Most of them are happy when equity markets are down and if they meet me then there is a “Hi, how come you are still not in the Somalia ration queue kind of look in their face” but with a “I hope you are fine” kind of words in their mouth! Some top ‘teachers’ of equities, many regulators, are all people who can make a 40 page power point presentations, but keep their money in bank fixed deposits.

However they think they owe me an explanation for not attending. Sorry ladies and gentlemen you do not owe me an explanation. If you think you need to learn you should attend sessions by Nilesh Shah, Naren Sankaran, Prasun Gajri, Parag Parikh, Nagnath, Anup Maheshwari, Vikram Kotak, Rajiv Anand, Vivek Patil, Rakesh Jhunjhunwala, C B Bhave, Rani Nair (Ex Dir PFRDA), ….etc. Attending these sessions surely increases my knowledge.

One feedback that we have received is that – it is the same people saying the same things – It sure is. But if your fund has been doing well you continue in the same fund, do you not? It is for the advisor to take the simple lessons from EA Sundaram or a Naren Sankaran and convince the client that action and hyper action are not really necessary for you if you are a client!

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7 Responses to “Knowledge a process”

  1. Hi Subra,

    I attended, though i was not on the invitation list, and surely the other 150 plus who were there..were also perhaps not on that list! But i would like to sincerely say that i was lucky to be there, and would surely come again!

    There are some things in life, which get “richer” as they age, or get repeated. Financial advice and wisdom is one such thing (apart from wine as they say!). The more you reinforce it, the more you test it in real time & everytime, the more benefit and wisdom you add to yourself. And listing to a “guru” on this, well no subsitute for that!

    People often say, there is never a free lunch! So when one is really offered, they tend to miss it!

  2. Well said Subra!

    You know, I met some people who had come from Hyderabad, Surat, Delhi, Indore, Goa, Pune and many other cities ‘only to attend this event’. I felt so happy to look at their enthusiasm and quest for learning. And I felt sad for over 99.9% of our very own Mumbaikars who would benefit from such an event but didn’t join. These are the ones who will complain, criticise others when markets fall, but won’t invest some time on a weekend for their own learning. So if such people are mis-sold a financial product because they don’t care to understand what they are buying and, as you always say just ask “sign kidhar karna hai…” then I guess they get what they deserve.

    People have strange thinking patterns. After I conducted my session on financial planning, I was trying to get into other sessions to hear what other speakers have to say. An acquaintance of mine – lets call him Mr X -who also happened to be at the event told me “arrey you should not go into other people’s session, you are yourself an expert, your image will get spoilt.” How cheap! I told him that first of all I am not an expert (I have started hating this term because most media people misuse it). I am a learner. I am a communicator. I share what I know with others and will be as curious as a child to keep learning till my last breath. But this Mr X’s attitude told me why some other analysts, fund managers etc. may not have come to be a part of this event.

    Any ways, I am glad that IRIS takes such an initiative and whoever comes to the event, goes back richer in knowledge.

  3. thanks Deven Iris should capture some of these people on camera and use their feedback. I knew people came from Surat, Ahmdbad and Pune..but Indore and Hydrabad and Delhi is perhaps an opportunity for Iris to do this event in other geographies and stop pampering the South Mumbai “i Know it all” audience. Iris and Icici direct should take note!

  4. Oh sure. I have their contact details, in case anyone wants to take their feedback/testimonial etc.

  5. Ravinder Makhaik on June 10th, 2009 at 3:32 pm

    Subra, it sure must have been an opportunity to learn.

    Like Manoj put it – “There are some things in life, which get “richer” as they age” – and knowledge be it Financial or otherwise is acquired over a lifetime.

    Yes, I for one did receive the invite – no excuses offered – and simply put it as an opportunity lost at hearing smart people who must have shared their experiences and views about equity markets, which must have benefited all those who did take the trouble of hearing them out.

    Look forward to your posts, conveying some bits of what was said at this ‘investment show’.

  6. Abhishek Gupta on June 15th, 2009 at 12:58 pm

    Hi Subra,

    I just read your post. I guess you missed me on your mailing list.. Would love to attend seminars like these. Please inform me of any seminars in the future and I ll be there..

    I regularly see Smart Money on UTVi, last one being your advise on helping a person buy his dream car..


  7. M SARFARAZ KHAN on June 17th, 2009 at 11:45 pm

    Dear Subra sir

    1 I am highly impressed by your website and the articles therein.
    Would you be kind enough to include me in your mailing list.

    2 It would be a pleasure to read these articles and to attend the seminars conducted by you.


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