Stop saying lies!
How do you know whether a financial salesman is lying to you? Ask them for their own portfolio !!
I find the following situations odd…when professionals say something and do something else….!
Here are a few examples known to me:
A trainer in a life insurance company who trained sales people for selling ULIPS – BUT WOULD NEVER invest in a ulip or a mutual fund. She would invest only in bank fixed deposits. I probed shamelessly. She said ‘my dad decides where my money should be invested’. Interesting. Her father was a retired clerk from an MNC. Never invested in anything other than the house and bank fixed deposits.
A trainer who did sales training, but had never ever gone on a sales call. His logic? all Generals in the army need not have been a gun carrying ‘soldier’….after all the GM of a factory need not have been a welder or a fitter, right?
A trainer who refuses to write the qualifying exam for which she trains a lot of people…..
Worse than trainers I know one ‘WEALTH’ sales person who has a HUGE outstanding on his credit card.
Amazing how this guy can talk to people about ‘wealth creation’….till he met me he did not even know that if there is outstanding on a credit card, the word ‘due date’ makes NO sense….
Why does this happen?
Simply because the salesmen or the trainers have NO CONVICTION in what they are doing. They suffer from ‘Status Quo Bias’ – the sheer laziness of not wanting to change. Should you have money lying in sb account?
For me this is a NO NO. I am completely into equity. I love doing sales. I hate giving free advice. I do train people, but my expectation from my training is not sky high. Simply because I believe that people do not do the full thing EXACTLY as I would expect them to do. I can live with that I guess.
When you tell yourself you keep money in sb account for an unknown emergency – why is it not in Kotak bank earning 6% why in ICICI bank earning 4% p.a….
sandeep
I know a ex wealth guy, now into training banks sales people and also into mutual fund sales.
His credit card maxed out.
His loan against MF account maxed account.
not withdrawing his PF of previous company for 2 years because it is secured.
sold his small ESOP 3 yrs back to fund a foreign trip despite my advice to the contrary. ( BTW that ESOP has gone up 4 times in the last 2 years).
😉 😉
Anaxbio
Subra sir, but everybody has a different persona when he/she is in public domain or on the job, that i think is the reality of life, can not be changed,
as long as you have a smart attitude/persona for outsider life & simple one for home life will go on well.
example : do you think Arnab Goswami will be shouting like this in home no that will be his office persona.
Savithri Venkataramani
If a person speaks the truth alone and do not lie at all for a twelve years of duration, then what ever he talks become true-this is a saying
leave alone all those beliefs, some stock brokers in the news channels talks as if they are driving the market, and they don’t even regret for what they said was absolutely false statement and continue their “lies” the following days.
If they give “disclaimer” then they can tell what ever they feel like, that too in the media, where thousands of innocent people are being cheated?
You wrote about HDFC stock some days ago, and it has come true, Hats off sir.
Santhosh
I agree, If your a professional, then you ought to do stuff with some conviction. Replace the salesman with a Doctor and see how his patients would suffer. Even an advisor or banker can ruin ones life by suggesting a wrong product.