First I would like to contest the assertion made by the gentleman from State Bank that markets have not given returns. I started my life with Rs 5,000. If market did not give return, I could not have earned the wealth, these financial advisers could not have flourished and I do not know on what basis it is said markets have not given return. Which other asset in India has given you return? Has real estate given it? Has interest given it? Has jewellery given it? I do not know why. He is a fund ma ..
And they are all asserting, there should be blood on the streets, please be careful what you are saying. The clients will not come and hit you, they will hit all of these people that there should be blood on the streets. The only problem is wherever there is blood on the streets, although people think I am smart, some of the blood has also been mine.
Let us just talk a little about early days. How did you learn about markets?
See markets cannot be taught. They have be to be learnt. The biggest quest to learn anything is curiosity. If you are curious about something, you will go and dig. My father used to invest in the markets and in the evening he used to discuss with friends and I was always very inquisitive. I used to ask him why is Century’s price going up and tomorrow why Gujarat State Fertilizers is going to come down while Grasim, Gwalior Rayon go up?
He used to tell me you read the newspaper. When the news comes about Gwalior Rayon, if the news is good, the price will go up. At that time the market ran from 12 to 2. I was in school and college and so you could only know the price next day. But I used to follow the markets and then I got more and more curious and my father gave me a book. The International Labour Organization, had come out with a book on how to read a balance sheet for labour, so that union members can understand what is the ..