Widely read:
Anand Kumar
"Kuchh To Log Kahenge, Logo Ka Kaam Hai Kahana." That's the line I wanted to sing, but let me step back for a moment and give you some context. You see, very often, even the most common questions about investing take on a new life when tied to an investor's own situation or a unique personal way of expressing it. This is why I truly relish live Q&As. A question that might seem repetitive in plain text can become engaging and enlightening when discussed with context, resonating with the audience.
Every Sunday evening, for half an hour, I'm on the "Market Mantra" of All India Radio, where viewers call in with their investing queries, and I answer on live radio. For over a decade, I've appreciated this format, which stands in contrast to writing articles or appearing on TV. Having engaged with hundreds of shows and thousands of callers, I've grown familiar with the type of questions posed since, ultimately, there's a limit to what investors inquire about. Yet, while the subjects might be consistent, the individuals vary, and this perspective adds a layer of interest.
This investor who called in had started investing some years ago. He had chosen three or four good funds and is doing a regular SIP in them. Everything is going well - the returns were good, he has learned to tolerate the volatility - he has no problem with the investments themselves. However, he called in on the show with something that is an increasing worry. "People are saying that the markets are too high and they will fall" is his problem. Not the investments, but random people on social media and elsewhere are saying these things, and our friend is getting worried because of that.
Well, as the song says, people come on to social media to say things. That is the entire goal. If you say sensible things like investing steadily for years and years, then soon you will have nothing new to say, and no one will pay any attention. My advice to the listener was that he should focus on the experience he had personally had and be confident in his own understanding and knowledge that had brought him this far. Once you are already on the right path, having doubts and second thoughts because of what someone else is saying is counterproductive.
I was reading a column by the Chief Investment Officer of Motley Fool where he had quoted a line from Shakespeare: Our doubts are traitors, and make us lose the good we oft might win, by fearing to attempt. Doubts do not serve any purpose, especially when they contradict your own knowledge and experience. More returns have been sacrificed by sitting on the sides and not investing, waiting for some illusory situation in which investments are worth attempting.
Look at the way value increases over time. Think of Rs 1 lakh invested in 1982 in the stocks of the BSE Sensex. The money would today have grown to Rs 37 lakh! During these years, any number of economic and political hardships have been suffered by the country. If you are worried about what 'people are saying' now, imagine what they were saying in 1993 or 2001 or 2007. And yet, anyone stuck to investing through all this has generated enormous wealth over these years.
The journey of investing is peppered with all kinds of voices, opinions, and apprehensions. But as history has repeatedly shown, it's not the noise that counts, but the discipline, patience, and belief in one's own experiences and knowledge. Instead of getting swayed by the cacophony of opinions, trust in your journey and the fundamentals of investing. Every market, high and low, presents its own tale, but the steady hand of a well-informed investor writes the most successful stories. So, the next time you come across naysayers or feel the weight of popular opinion, remember it's your narrative to shape, not theirs. Keep the faith, stay informed, and invest wisely.
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