Let me start by quoting Lord Keynes. He said ‘Of course I change my stand. When I get new data, I change my mind – what do you do Gentlemen?’

After spending a few years in college, and then3 decades in dealing with wealth instruments, intermediaries, manufacturers, banks, trainers and most importantly customers there is a lot of learning.

1. My view of the financial services industry has undergone a lot of change.

2. The most important thing for an investor to understand is Conflict of Interest.

3. Getting same return as the market is easy, outperformance is IMPOSSIBLE for the man on the street.

4. Inspite of 3 people will spend 2 Billion US $ on newsletters this year.

5. People understand Retirement, HATE planning for it.

6. The best way to the Forbes list is by managing other people’s money. Period.

7. Nobody in the Forbes list says ‘I am here because of brilliant fund management by my bank….well er….hmmm..

8. My views on ULIP: bad product for 99% of the people reading this blog. The 1% do not even need life insurance.

9. My views on direct investing: I can – but YOU need to answer that question for YOURSELF. Not ego, just saying this because my NEED is about 2% real return, because my corpus has done well in the past.

10. My views on Annuity: A lousy lousy product. However I will sell it to a few people who need it desperately. Sad situation of a great product expensively priced and no hope in hell of being priced better.

11. Term Insurance: Almost everybody needs it, but hey keep checking every 3-5 years whether YOU need it.

12. Wealth management, Retirement planning are all sexy words, but at the basic level it is BORING, DULL, REPETITIVE and has to be done, that is all.


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  1. The best way to the Forbes list is by managing other people’s money. Period.?
    Can you expand on it or give examples. I think the people on Forbes list are mostly businessmen!

  2. look hard you will find 3-4 fund managers and 1-2 hedge fund managers too. Businessmen, yes of course sure, they are businessmen all right!!

  3. A day would come where debt market returns could over take equity returns. We have already seen this in last 5 yr cycle and let’s watch rest of cycle 10, 15, 20,25 & 30 yrs.

    We might also see TDS of 50% on FDs and waived of all taxes on gains of equity. The lobby of equity market so strong that black money could be allowed to invest in equity and no taxes would apply. KYC norms for equity markets would also be waived off.

    Next election announcement by UPA : Waive off farmers loan but also big businesses (KF, Air India, FCCB & Bonds defaulters).

    We might also get to see a car with a mileage of 50 KMPL but actually can only travel a Km with one litre due to trafic jam. The days are ahead where real cars could be considered as toy cars only meant to park at homes.

    Continuing with over population and poor infra aided my scams, frauds, lobbying (RBI cutting rates in high inflation), fiscal deficiet and so on, INR may plunge to 100 per dollar on account of FII outflows.

    We can write many things for next gen.

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