Don't invest unless you've done your homework: Manish Arora

A: Absolutely! Many life choices are shaped by a person's financial decisions and in my opinion money plays a big role as an enabler for people's dreams. People that are careful and disciplined about their investment choices can attempt to fulfill their dreams, be it the fluid lifestyle of living out of a suitcase and travelling the world or the risk of starting a company to follow a passion.

Q:What kind of an investor would you describe yourself as: conservative, balanced or aggressive?

A: I would describe myself as a balanced investor and I try not to box myself into any of the investment schemes that are marketed to the public. I usually take a lot of advice and time to figure out what are the best investment options for me and then try my best to invest across the board, I avoid putting all my eggs in one basket.

My investment choices also change based on my position in life and my aspirations at that point. I feel the key to investing is to constantly reassess your goals and invest in the option that best suits your current situation, and always, always be realistic.

Q: Which is your most preferred instrument for investment?

A: I prefer to invest in equity shares. As a business owner myself, the idea of enabling the aspirations and dreams of other businesses is quite satisfying. Equity shares are the best investment option for this and they allow me to share in the successes of the companies I invest in. Of course, before investing in equity I receive a lot of advice on the shares I want to invest in and ensure that I can afford the risks to be taken.

Q: Could you share some of your experiences in investing?

A: I started early and small and stayed consistent. I believe in saving first and spending later, rather than spending first and not having anything to save later. I have realized investing is more about knowing my own greed, rather than thinking I only need to know about the markets.

Q: What is your advice to the general public as far as investing is concerned?

A: Whenever you receive investment advice always consider what that person gains from giving you that advice, this will provide you with perspective. Also, have a goal in mind before investing; this will help you have a healthy emotional financial relation with your cheque book. Get the best advice you can afford, would you go to a cheap doctor or lawyer then why not get the best money manager.