Investment University

Valentine's Week is over but let us still give you some love advice for free.

It is great to love a guy, gal, your family, dog, cat, country etc.

But you must NEVER EVER fall in love any stock or investment. 

An investment has one purpose and one purpose only: to multiply your wealth. 

Look elsewhere for your emotional satisfaction & you will end up wealthier.

Be wary of any fund manager too who says, 'I love this company', 'This is a high conviction trade', 'I want to hold this forever' and other statements of the kind.

As a corollary: Never romanticize or 'storify' your investments. Your biggest mistakes will happen when you become emotionlly involved with your stocks. Save that for your significant other.

And when you publicly talk of your investment stories, you tend to get wedded (pun intended) to them which means that your mind won't change even when facts change. 

The buy and hold stories giving huge returns that appear so seductive in hindsight suffer from huge survivorship biases. 

More on this some other time but if you look at how the Sensex composition has changed over 40 years, it will give you some food for thought on how companies, sectors go in and out of favour.

Nothing is till death do us part, except your love relationships.

From the desk of

Shankar Sharma & Devina Mehra

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