When i use the word financial porn (origin is much older than Subramoney, I did not coin this word)…people are amused. Then I spoke to a clinical psychologist and he said ‘see how many people are addicted to financial porn’ ..I really do not know the symptoms of any addiction, but here I am testing the waters. See if you have any of the following symptoms:

  1. Do you read many pink papers hoping to find which share to buy / which fund to buy? – if you think that the pink papers are running a financial education business or a free PMS you are on the way to porn addiction.
  2. Do you watch business channels hoping to build a portfolio? Or profit from trading tips?
  3. Do you have the phone number of your broker on your speed dial? As soon as a share is discussed do you make a trade?
  4. You love to read schemes which promise to double your money in 2 years? or in 6 months?
  5. You have at least clicked once on the Nigerian money scam. Be honest.
  6. You have toyed with the idea of attending a ‘Trading in Foreign Currency’ class hoping to earn $ 1500 every week “Free”.
  7. You track Rakesh Jhunjhunwala – and a plenty of other traders – hoping to get ‘sure winning’ tips.
  8. You have a good investment adviser, but you keep looking for secret ‘hair growing solutions’, ‘spot weight reductions’ and ‘get rich quick schemes’ – and very surreptitiously ask your adviser saying “a friend of mine was asking about..this scheme. Do not worry your adviser knows what shit you are up to.
  9. Your RM can engage with you for long hours on what product to buy.
  10. Your bank calls you a ‘Special Platinum Idiot” – ok they do not call you idiot, but the Relationship manager keeps selling you new, exotic, awesome products – AND YOU BUY THEM.

Ten is a good beginning is it no?

 

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  1. Yes, I was before reading your blog. But still read the Pink Papers and will watch the business channels but will not act solely based on their recommendations.

  2. Nopes, not addicted to any of the above listed items.

    Confession: Few years back, had tried desperately to watch business news to understand what investment is all about. However, after 3-4 days of continuous watching, could not make any sense out of it. I felt sad that I could not understand anything said over there.

    In hindsight, I thank God that I could not understand what the people spoke about

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