Wake up and smell the coffee

I have a young investor as my client. He started his savings meagrely with a post office recurring deposit. Once he met us, he initiated an SIP (systematic investment plan) with a small amount. Over time, he increased it. In the last year and a half, though, he requested withdrawals about four times. I could deflect his redemption request twice since he realised his need was frivolous and would disrupt his long-term compounding. This time, however, he wanted to withdraw money to invest in the Bajaj Housing IPO (initial public offering). I relented, given the positive market buzz around it. A few days later, he tasted blood as the Bajaj Housing IPO doubled after the listing. This newfound success woke up the beast in him. Now, he wanted to invest in more IPOs. The idea behind writing about this incident is to share the mood of youngsters dabbling in the stock market. Their cavalier attitude remi

This article was originally published on November 15, 2024.