For those who watch the ticker channels hoping to get wealthy, my sincere good wishes. As long as you know (and remember) that Cnbc, Bloomberg, Bloomberg UTV, ET Now, Zee Business, etc. are business channels with a sole aim of making money for themselves (ask their bleeding shareholders), and not to create wealth for you, I am fine!
Market timing is really difficult. I realised this long back. Maybe 25 years ago if not 33! Though it also looks attractive to time the market – and people tell you how ‘being there in the 10 most important days’ is more important,…you realize the futility of the whole timing exercise. The heroes in the Indian investment context – Chetan Parekh, Parag Parikh, Vallabh Bhansali – are clearly in the investor category and not so worried about the ‘market timing’.
Well if you read the press or watch television you will be convinced that the market will go down (after all inflation has moved from 8.02%p.a. to 8.08%, has it not? Well the anchor and 4 guests will all tell you that the market will go down. However the same set of people justify why it went up by 345 points!
How they can shamelessly do this exercise day in and day out beats me. Well I did turn to Warren Buffet, Peter Lynch and a few others.
Alexander Green seems to be talking about something like that today…read on:
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