Thanks to my degree, having been a member at the exchanges (albeit corporate), and having been in training, I keep meeting CXOs of mutual funds, reporters and journalists, life insurance companies – and a couple of times even banks.

Amazing how they can say the same thing…

– invest for the long term

-‘I am here to create an institution (3 jobs in 7 years, but what the hell)

– We are different

-What can we do everybody else is doing it..

-Subra, do you know that @@@ is a lousy product, will give a return less than PPF, and worse it will be taxable’ – within 3 months of saying ‘look at it as a debt product like a bank fixed deposit which will ensure that the TOTAL PROCEEDS ARE TAXABLE’ – what changed? Nothing, he had changed his job.

– IRDA has ensured that life insurance products have got cheaper, so you should recommend our product too on your website (PR head of a life insurance company)

-Subra, we have found a fantastic walk around the IRDA pricing mechanism there is no limit on the risk premium costs and rider charges.

‘Boss woh sab public ko bola theek hai..mera paisa kahan dalon?

‘I think SIP works…I have been seeing so many experts say on our channel….tell me will it work for me??’

‘Yeh sab theek hai..I have a good salary and I will invest only in PPF, and LIC…(will not name where, but he looks after equity).

can go on and on and on…If you think there are some contradictions, it is a coincidence. Sales people just parrot the same thing…so if you have heard any of these, it is just a coincidence again!!

I know agents too read this post…well these brilliant jewels are what your bosses’ say when they meet others…immaterial of what they tell you..

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  1. as a software vendor to the financial services industry, I can assure you we need an Anna if not a Ralph Nader in each of these verticals. Double speak, corruption, etc. are so high, it stinks…but for obvious reasons I will remain anonymous.

  2. Got a call from some kotak guy. He was trying to sell me ULIP. But he did not utter that word. He was telling that it is a pension-like plan with free life insurance, with guaranteed returns.

    Thank God, I read some financial stuff online, so I could avoid that guy.

  3. GRQ-Get Rich Quick –
    SFN- Something for Nothing -aka- Free Lunch
    MBKKJT – Not a Karan Johar starrer – Mere Baap Ka Kya Jaata Hai- lack of ownership in job.
    When these 3 come together be it Corporate or Politician , its usually a terminal case.Methodology will change, intent and result do not.

  4. As a nation, we have got into a mode of earning the maximum within the least possible time and thinking that we will retire / relax. This fast-forward mode of obtaining super-high returns at any cost is just not realistc. Shuddering to think what will be the case when 5 years down the line how the urban folks will keep themselves occupied that gives them satisfaction, while the ‘corpus’ will be generating the returns.

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