An asset should bring you money. If this is the definition of an asset – your golf kit, your gold jewellery, your Mercedes, the house in which you live, – normally what people consider assets suddenly look like ‘expense’ rather than an asset! Every cheque that you sign is either an expenditure or the purchase […]
THERE are two relevant quotes that I came across: George Bernard Shaw once said, “Whenever I go to my tailor, he measures me up”. John Maynard Keynes, the economist, once quipped when he was accused of inconsistency: “When the facts change, I change my mind. What do you do, sir?” Risk management is all about […]
In an earlier post I had spoken about 3 people’s attitude about money. Today it is another set of people. I met a 82 year old lady – very active, agile, smart and with a fantastic memory. She had taken up a job when she was 18 years old for a princely salary of Rs. […]
Being in one business for a long time helps – you can see more clearly. The main business that I have been in is “Watching people make money, losing money, their attitude towards risk and generally towards life”. Will do the lessons separately. Here is a list of risky behavior that has caused investors a […]
A group of ‘friends’ put up a stall in a ‘fair’. One game that belonged to me was the main attraction. Many people came to our stall…and did a lot of things. 3 older ‘neighbors’ split the money among themselves. All of us in smaller classes – below class VI – were left sucking our […]
There are many people who like to make lists – tallest, shortest, fastest…but one list everybody loves to see their name on is clearly the Forbes’ list. The Richest Man. Sadly only the person with the highest net worth can be measured honestly. I know of one businessman whose office went overtime on the net […]
A few days ago I was watching a personal finance program on ET TV. How some statements are now being thrown about is very surprising – and amusing if one were not bothered about the side effects. A portfolio for a 55 year old individual (5 years to go for retirement) was about 50% in […]