The Mahabharata, needless to say, is one of the greatest epics. Though essentially a narrative of a war between the Kauravas and the Pandavas, it is known to offer valuable lessons on life, relationship and success – the good and the bad; the virtuous and the vile.
One of the excerpts of which I clearly remember from Mahabharata is of Draupadi being dragged into the courtroom by her hair.Draupadi due to no mistake of her own was embarrassed and insulted.
If we look at the situation closely, Shakuni wasn't the only one to be blamed. To give it a different perspective, the Pandavas were lured. They did not assess the risk of losing out. Even Dharamraj Yudhisthir could not see the fallacies in the scheme.
THE SAME APPLIES TO INVESTMENTS
Investors are lured by the high returns offered by Ponzi schemes. They are so lost in their dream wins that they do not assess the risks involved in such investments. Even the most risk averse investors get lured seeing quick and easy money making schemes.
When Ponzi schemes are exposed, millions of Rupees are lost of innocent investors. Ponzi schemes are blamed. But my friend, Ponzi schemes exist because people get lured by easy and quick returns. They do not do a background check. They risk everything for nothing.
Risk comes from not knowing what you are doing.
This applies to every financial decision taken by you or financial products bought by you without assessing the requirements, risk appetite, benefits of product, cost of product, opportunity cost, etc.
For example, Buying endowment Insurance policies, crypto-currencies, tip-based trading, tip-based investment in equity, investing in random / top rated mutual fund schemes, investing without Goals, etc.
THE GREAT BATTLEOF MAHABHARATA
The Kauravas had the Ruling King, greater Army and most of the greatest warriors on their side. They had Shakuni as their Advisor.
The Pandavas and their Army were comparatively less in strength. They had just returned from Exile. However, this time, they had Lord "Krishna" as their advisor.
Krishna not only helped them to see the truth but also guided them to the right path by overcoming their emotions. He did not participate in the battle but helped the Pandavas to Win. Krishna wasNIMIT(a medium) to their Success. This is the true Role of an Advisor, isn't it?
In your investment journey, you will take many decisions. Some of these may not be beneficial / in your interest.Even with lesser resources, you can Win great battles, when you have Krishna by your side.
Happy Janmashtami!
By: CA Nitesh Buddhadev & CA Mitsu Buddhadev
The authors can also be reached at info@nimitwealthmanagement.com
CAclubindia
