When you grow up in Ghatkopar and live there for 3/4ths of your life, most friends tend to be Jains. So over the next few days a lot of them will call me to say ‘Michhami Dukkadam’. And as is wont, I will repeat it.

I am communicating far, far more on my blog than through my other daily interactions or even through lectures. I hate, hate, hate hurting people – knowingly or unknowingly. However I do hurt people.

So here is my apology to all Marxists, Socialists, Capitalists, Democrats, Republicans, Congress (no not Baboons), BJP loyalists, all Ayn Rand devotees (I used to be a fan, never became a devotee), all fans of indexing (does not work in India), all regulators (does not work anywhere in the world), all financial education and inclusion bandwagon riders (yes there are about 84000 organisations doing it), all experts who come on television, all anchors, all personal finance writers who spew generalisations as personal finance planning, all the people reading my blog, all the people who click on the ads on my blog, all the people know ads should not be clicked, all the people who comment, all the people who think I edit comments, all the people who know I do not edit comments, to all the children who expect their parents to spend for their education, to all the parents who show off their wealth by blowing money on kids weddings – and the kids themselves do not want it, to all those who are not investing for retirement, to those who are hoping that their kids will take care of them in their old age, to those who do not plan for retirement thinking they will die young, to all those students whose MBA degree is getting them only low end jobs, to those colleges who are telling their students …well it is too boring is it not….so …..and every body else including Obama, helicopter Ben and their guru Alan Greenspan, why even Osama’s children. And the innocent people around Osama who were killed by Obama’s men.

Not a fan of Osama, but not a fan of Obama either.

So just to carry this a little further, Michhami Dukkadam to all of you….well Wikipedia says this is what it is:

Jai Jinendra

On this auspicious occasion of Paryushan we wish you all Michhami Dukkadam!

We beg your forgiveness from inner of our hearts for whatever misdeeds or mis-behaviour whether knowingly or unknowingly occured by ourselves to you through mind, thoughts, actions or speech during the past year. Michchhami Dukkadam on the occasion of Savantsari Maha Parve

Kshamapana Sutra with Meaning

KHAAMEMI SAVVE JEEVA (I grant forgiveness to all living beings)
SAVVE JEEVA KHAMANTU ME (May all living beings grant me forgiveness)
METTI ME SAVVE BHUYESU (My friendship is with all living beings)
VAIRAM MAJHAM NA KENAI (My enemy is totally non-existent)

MICHHAMI DUKKADAM

With best wishes and prayers for the well-being of all things living……!

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  1. A large heart indeed to say it!

    But I am just a bit confused about your opinion on indexing. I remember having read in one of your blogs about simple products like indexing, term plans etc being all that one would need. But here you say indexing doesn’t work in India. Am I missing something?

  2. Sreekant for a person who does not know anything about equity shares or mutual funds, Indexing is a good option. For somebody willing to learn, can look at some actively managed funds, some index funds, picking some stocks at the bottom of the market etc. HOWEVER THIS REQUIRES learning, learning and learning. My question is ‘are you willing to invest in learning before you invest your money’…please answer that TRUTHFULLY and then decide.

  3. Yes Subra, I fully agree with you. One needs to invest time and effort before investing money. Indexing is only an insurance against under-performing the index. Though I am for active management at this point in time in India, it is also true that funds are increasingly finding it harder to beat the index. May be due to increasing institutionalization of the market. But there are fund managers and brokers who do it reasonably consistently.

  4. Very Well Put up sir.! Sometimes good intentions can be misinterpreted.
    Do you believe that one can achieve superior results as in beating the index in Equity over long term by using mechanical screenings?? (i mean buying a low P/E or P/B stock)

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