Key Lessons on Investments from Market Veterans Amid Weak Stock Markets
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Market experts gave lessons to new investors at the recently held CNBC-TV18 Global Leadership Summit. Here are the key things to know:
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Calling compounding the eighth wonder of the world, Ramesh Damani said that compounding is like a rolling snowball, and one has to make sure that the hill is tall enough for the snowball to increase in size.
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“Compounding can take a generation from poverty to wealth if done well,” Damani added.
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While Raamdeo Agrawal, chairman and co-founder of Motilal Oswal Financial Services, said that one has to wait for the compounding to happen.
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Raamdeo Agrawal said that along with timing the market, it is important to have patience. “When markets are roaring, everybody is in the markets. But when times are bad, when markets are falling, that is when one should have patience,” Agrawal said.
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Backing the right businesses is important, however, one should be careful with the price that it pays for the company, said Manish Chokhani, director of Enam Holding Private Limited.
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Chokhani added that one should enter at a good price because the soil in India is fertile for entrepreneurs and businesses, and hence one should stay for the long haul because they will compound a lot of money.
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The views and investment tips expressed by experts are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
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