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kulman
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Quote kulman Replybullet Topic: Investing - The Sadhus join the brigade!
    Posted: 30/Nov/2007 at 3:17pm
I don't know whether this post shall have separate thread....but it's very very interesting....
 
Sadhus turn smart investors

He is quite at peace with himself at the crack of dawn. His job: worshipping the lord, cleaning the temple, facilitating darshan for the devotees, and preaching, which starts only towards the evening.
 
What about the day? Well, the Swamiji is busy. He turns a smart investor as the stock market opens, excuses himself to a room in the temple premises with a laptop and clicks on for trading.
 
One such priest has a portfolio of close to Rs 1 crore. Religious heads from prominent temple trusts and sects are investing big time with the perks that come as unaccounted donations from devotees.
 
Take a small village in Anand district. The swami belonging to a popular sect here is an active intraday trader and his knowledge about the stock market is quite impressive.

It may be mentioned here that the religious leaders from some of the cults are highly educated and tech savvy.

In case of off-line trading, preachers opt for a demat account in the name of a family member of their follower, and nominate themselves in case of death of an account holder.

According to the market sources, certain sects of Swaminarayan and Jains are some of the largest investors in mutual funds. Some of the Christian trusts too are investing frequently. 

But, as swamis turn investors, it is evidently for their personal gains. Market sources say a number of religious leaders own portfolio worth a few lakh rupees to over a crore.

Another stock broker states that there are instances where religious leaders also fund their select followers to apply for IPOs. The followers have to return money after listing at pre-decided interest rate and profit sharing. The followers are supposed to bear the losses in case the scrip fails to perform on listing...
 
 
 
-----------------------------
 
The article doesn't state whether F&O Positions Contract Notes are accepted as donations!!!
 
 
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smartcat
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Quote smartcat Replybullet Posted: 30/Nov/2007 at 3:36pm
Can Swamis see the future?
 
 
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kulman
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Quote kulman Replybullet Posted: 30/Nov/2007 at 3:45pm
Don't know that for sure.
 
But imagine a Swami who has lost due to leveraged position in Nifty Future. His follower (disciple) would have no other Option but to bear that loss.
 
 
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basant
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Quote basant Replybullet Posted: 30/Nov/2007 at 3:48pm
I met one Panditji who conducts Bhagwad Path recently. WHile we know him for over two decades now I was surprised when he asked me "Indian Overseas Bank kya lagta hai". He holds adecent quantity maybe in 5 digits and was looking at further avenues to invest.
 
I was later informed that inspie of being wealthy in crores these people do not pay tax and seldom keep money in banka ccounts - Bad for CASA!
 
Most of their assets are in gold and property and on interest called "rukka" through their bhakts!!!
 
IT guys keep all the pandits on their radar and do launch raids very often but broadly they have been able to do nothing because everything gets settled.
 
 
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Quote smartcat Replybullet Posted: 30/Nov/2007 at 3:59pm

I guess Sadhus can put a Shraap on Income Tax guys who try to raid their premises - that's Kamandal power for you. If CNBC guys happen to read this thread, you will soon see a new programme going on air - Your Stocks With Shri Shri Shri Shri....

To have a portfolio of crores, they need to have a pretty decent starting capital. Is being a Sadhu or Pandit so financially lucrative? I know it is too late for a career change for me, but I'm just curious.
 
 
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kulman
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Quote kulman Replybullet Posted: 30/Nov/2007 at 4:07pm
LOL ha ha
 
It's never too late....SmartCat.
 
In fact I've thought of few names as suggestions just in case you really think about it:
 
  • Swami Hasyanand
  • Kumar Niftu Maharaj
  • Swami Sensexanand

 
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Quote basant Replybullet Posted: 30/Nov/2007 at 4:13pm
They make all the money preachingBig%20smile
'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in
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deepinsight
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Quote deepinsight Replybullet Posted: 30/Nov/2007 at 4:38pm
Big%20smile
Kulmanji/Smartcat: some more possible names...
Swami Dhandhanadhan
Maharaj Rokdapati
Sri Sri multi-bagggerji


Edited by deepinsight - 30/Nov/2007 at 5:20pm
"Investing is simple, but not easy." - Warren Buffet
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