Originally posted by basant Originally posted by kumarrvq I wish I can get Independence from my existing Job (which I do just like a duty) so that I can 100% focus on equity research and investment.                                                                                                   Basant jee, when you quit your first job and decided to start your own venture, didn't you get protest from your close associates or insecure feeling from inside? How did you manage to handle such tough situation? I feel we need lots of guts to break away from consistence source of income.   It happened more by default then choice.We owed mining rights to a very large deposit in J&K but because of Govt. (Farooq Abdullah) interference - they wanted to terminate our lease and give it to one of their own people that lease was terminated in 2000 and all our investment in that company was valued at zero!!!   This company was started by my father and all this came up because he passed away in 1999 maybe at 26 years I was too ignorant and foolish to handle the hot potatoes of the Indian political system. I fought the case till my last penny in the courts but then gave up since I lost both hope and money.I lost all my investments in the tech bubble because I traded to make a fortune in the shortest possible time.   In 2001 I joined a school as a part time teacher (salary Rs 1000pm) and started teaching students in a private tutorial that I set up at that time. I had lots of free time and read almost all the books on investing. The biggest problem with our day to day job is it does not give us time to think. All day long we behave like labours and there is no time devoted to thinking anything that is too far away from the present.   Made some big money in the 9/11 crash and then came across Pantaloon Retail and Tv18 etc in 2003. Simmultaneously I took up a MF distributorship because it was linked with something I enjoy doing - also it indicated  a steady flow of income through SIP enrollements of clients - Never gave cash back because that is the cost of my advice.   At one point of time I was teaching about 100 students but have since left teaching because I cannot give time to this website which I helped create just to share knowledge and gain wisdom from like minded people.   But yes, when i left tuitions in 2006 and when I used to invest my last rupee in stocks there were a flood of protests.   But my experience has been that following something in which one has passion is a great thing to do but then we all need a capital base for that. I still consider myself lucky of not being wiped out in 2001 because I was leveraged like hell! I used to see some shares and then buy again as the markets rose. my bankers HDFC bank were always with me.On days the markets fell they used to call me for margin call and the moment I heard their voice I used to say "Array sir yeh kal badh jayega". Today in retrospect I think I was riding my passion with luck.

Edited by basant - 16/Aug/2007 at 9:13pm

something amazing, Basantji.

However, making money is one thing which practically happened with u post 2003. But, the kind of stability of thought which u present seems, this 2003 yr (when your true journey in investment world started) was a decade back from now.

Originally posted by us121 something amazing, Basantji. However, making money is one thing which practically happened with u post 2003. But, the kind of stability of thought which u present seems, this 2003 yr (when your true journey in investment world started) was a decade back from now.

Originally posted by basant All day long we behave like labours and there is no time devoted to thinking anything that is too far away from the present.

Very true Basantji ! One thing that striked me when I read RDPD Robert Kiyosaki was..

Most of us spend 8 - 12 hrs every day in office working for some boss...
On top of that if some spend time on studying that is also aimed towards either securing a better job or promotion.. but again working more that some boss can gain..

All the work we put in from Jan to Apr of a year goes to the Govt...
Its true.. Income tax is typically 30% which is about 1/3rd of salary.. essentially 1/3rd of year's working... slogging 4 months a year for the govt...

So why can't we work for ourselves at least 1- 2 hr a day ?

This working for ourselves is where I see reading about investments, tracking them, thinking about it etc fills in...

Most general public get too much wound up in the work .. so they don't spend time on themselves...



Edited by vivekkumar_in - 16/Aug/2007 at 3:32am