I was stunned when a guy whom I was interviewing said:
“Sir Real Estate Prices DO NOT GO DOWN..I have been in the markets for 5 years, and in Navi Mumbai where I have been doing Loan against Property sourcing, I have not seen real estate prices come down, EVER”.
Another student/ candidate said:
“Sir I know a lot about Equity markets…I eat, live and breathe CNBC. There have been times when I would watch Cnbc for 8-9 hours A DAY. I have learnt about Fundamental analysis by watching TV. 6 years I have been in the market and have learnt almost everything about the markets”
Fairly obvious when a vicious man gets a ‘bali ka bakra’ like this, the obvious next question was:
‘How much money have you made in the equity markets…in the past 6 years?’ – fair enough I think?
‘I have just been learning and watching. I must have invested about Rs. 200,000 in the market in the past 5-6 years, most of it recently …and in some IPOs”. Except for RCom and Reliance Power I have not done too badly. Also I do not sell UNLESS if I am making a profit. So because of the long term nature of my investments (i can even hold it for ONE year – you see this is my long term portfolio)…and the fact that I will not sell, I do not have any losses”
When you get such a long winded answer…you know he has blown it 🙂
Shamelessly I persisted…He said: “Sir I have invested Rs. 20,000 in a public company whose I P O is likely to come out soon…other than that the value of my portfolio is about Rs. 105,000”
Six years in a bank deposit…he may have at least doubled his money, I presume.
Have a friend who gives channels a funny name…but I am sure there are women and children reading this blog 🙂 so will not use it…He has used it in one of the comments column, I have not edited it . Frankly channels are useful only for those people who already know quite a bit. For example when a school teacher hears “Biocon looks fairly priced from a long term perspective, however the Open Interest is increasing..and looks Technically weak” – no way can he/ she use this information, can she?
Astrology, Television anchoring, etc….are all about ’round about’ talking so the common man cannot make MONEY by watching tv..at least that is what I feel…surely the rising popularity of business channels (3 more are being launched) means I am wrong?
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