As a player in markets, it is never too late to adopt and learn from markets and stay updated with new investment options and grow money wisely
Celebrations of Ganesh Chaturthi started across the country on Thursday. The people celebrate this festival as Lord Ganesha brings with him bring prosperity, happiness, knowledge and wisdom.
Team Moneycontrol conveys its best wishes on this auspicious festival to every trader and investor.
When it comes to learning anything new, there is a lot one can take as inspiration from Lord Ganesha, who himself is an expert in 14 vidyas (techniques) and 64 kalas (art forms).
In the financial world itself, the first and foremost lesson that one can learn is UNITY, the main motive of this festival which was first started by freedom fighter Bal Gangadhar Tilak.
Anything to win in this world or anything to balance in life, unity between different types of people or different types of things (in terms of anything) is a must, which is similar to portfolio building.
In the stock market, if you want to make a profit, you can't depend on one stock or one type of product. You should make a portfolio of several stocks or products to get it balanced so that portfolio can outperform in every up and down.
Here are other lessons which can be learned from Lord Ganesha that can bring happiness, prosperity, wealth and strength to overcome obstacles while trading or investing in the stock market:
2) Don't follow the Herd mentality – When Lord Shiva asked his two sons Ganesha and Kartikeya to race around the world, Ganesha chose to do a pradakshina around his parents. So think like him— out of the box. Don't buy a stock basis a general view or rational.
3) Stick to one's circle of competence - When Lord Ganesha was given the challenge of circumnavigating the universe thrice, he acted within his limitations and used his strength to win. For long-term success in investing, it's very important to stick to one’s circle of competence whether it is about a set of stocks, industries or an investing style.
4) Stick to your investment commitment and discipline- Day traders should abide by the discipline that Ganesha executes, stopping Shiva from entering home as instructed by his mother, risking his life. Hence, all traders must take stop losses and also take all trades to attain the average run rate (profits), which generally is 60-70 percent. Similarly, investors once committed to the idea of investing should remain put for long-term gains and self-fulfilment.
5) EDUCATE yourself, invest in what you understand.
6) Only QUALITY can deliver return.
7) Hope is not a STRATEGY in the investment world.
8) Differentiate between TRADING and INVESTMENT strategies.
Valuable investment lessons which can be inferred from various body parts of Lord Ganesha:
9) His large head encourages ‘to think big’ when looking at long-term investment planning.
10) His small eyes warn ‘not to miss the details and concentrate while planning’.
11) His long ears urge you to ‘listen more’
12) His small mouth is a sign that you should ‘talk less’ as an investor.
13) Lastly, it is Lord Ganesha’s strong tusks, which points towards the required ‘power to weed out bad investments’.
As a player in markets, it is never too late to adopt and learn from markets and stay updated with new investment options and grow money wisely.Contributors to this article are Ajay Jaiswal, President – Strategies & Head of Research, Stewart & Mackertich Wealth Management; Shailendra Kumar, Director & CIO, Narnolia Financial Advisors; Jayant Manglik, President, Religare Broking; Prashanth Tapse, AVP Research, Mehta Equities; and Sumit Bilgaiyan, Founder, Equity99.