Caller: Mr. Subra I am happy you have taken my call…I am 73 years of age and have about 98% of my net worth in equity..
Me: My GOD! Sir I am aghast ..how can you have all your net worth in equities alone..it is too risky do you not know?
Caller: Sir I did not say equities, I said equity. I have almost all my networth in one companies share.
Me: Sir I am an expert on asset allocation, markets, retirement planning, AND I KNOW EVERYTHING. You are telling ME..??
Caller: Sir my Relationship manager had advised me to sell a part of my holding continually and invest in SIPs like Reliance and Icici Prudential, bu I did not listen to them.
Me: Sir it is difficult to give advise to a stubborn man who at 73 has so much money in equity and does not listen to nice qualified people in bank who wish to help you.
Caller: I have some money now…what should I do?
Me: How much? and how long do you keep it invested?
Caller: About Rs. 2oo…
Me: You got to be joking..such a small amount cannot be invested..
Caller: Sorry sir, you got it a little wrong..I have Rs. 200 crores to invest for 4 months..
Me: OOps. Sorry sir, by the way ..what is your name Sir? I forgot to take down your name..
Caller: Azim Premji
Doctor: Subra, Subra…wake up..Mr. Premji has already put the phone down..
Lesson: It is a little difficult to do financial planning without knowing the clients name – even though people are trying it on various media channels. Of course this is my view….there may be some people with a different view..
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