Investment lessons from Mahabharata!!!
The best childhood memory still fresh in my mind is the one where my grandfather told me the mythological story’s about Lord Krishna and his magic tales. I always imagined the scene in which Krishna advised Arjuna on the Chariot. This scene had left a huge impact on my teenage life. I decided my life goal after listening about it. It wasn’t an advisor; it was to become a chariot rider. Turns out, I am an adviser and not a chariot rider. Such a disaster!
Being an advisor let me walk you through some investment lessons from Mahabharata. Allow me to be your Krishna for once!
- Diversify your assets: Draupadi was an unwed woman in the previous life. In order to get the husband, she prayed to Lord Shiva. Lord Shiva appeared in front of her. Helpless Draupadi was so happy after seeing Lord Shiva, that she exclaimed in joy and made a wish for the husband. She told the qualities she was looking for in her husband. All those qualities in a single person were next to impossible. Lord Shiva wanted to satisfy her wishes and blessed her with five husbands. This does teach us an important lesson. One must always diversify the assets. Having all your eggs in one basket is not a good strategy. Guess what? Mutual funds are diversified investment instruments. Remember, excessive diversification is also not a good idea. Gandhari will agree with me on this fact. Pun intended.
- Half knowledge is a dangerous thing: Abhimanyu, the great warrior prince, when was in the womb of his mother Subhadra when his father Arjuna, told Subhadra about the technique to break the Chakravyuh. While he was telling her, she fell asleep and the rest of the technique, which was about how to come out of the Chakravyuh was missed by her. So, Abhimanyu knew how to enter the Chakravyuh but had no idea about the exit strategy. When the time came to break the Chakravyuh, he did his break it but eventually passed away like a warrior due to his ignorance about the learning of exit strategy.
This does teach us an important lesson. One must have complete knowledge about the assets one is investing in. And if one does not have the knowledge about it, one must be very attentive while his/her financial advisor is bestowing knowledge. Definitely, not a good time for the power nap. And yes, always have and offer coffee to your advisor whenever he visits you, best proven technique to stay awake.
- Always have a goal: One fine evening, Dronacharya decided to conduct a test of his disciples. He placed a wooden bird on a branch, asked his disciples to gather around and tell him what they see. Some said trees, some said feathers. But then entered Arjuna, who confidently said: “I can only see the eye of the bird.” No wonder, Arjuna was the favorite student of Dronacharya.
This does teach us an important lesson. One must always set his goals and plan for it. The goal can be as small as a four-day vacation or as long as your retirement. Plan a SIP (Systematic Investment Plan) for every goal and lead a streeless life. And the next time someone asks you what you see, answer him confidently and be our favorite client. Only if you allow us to be self-proclaimed Dronacharya.
- Monitor your portfolio: Shishupala was born with three eyes and four arms. When he was born, a heavenly voice proclaimed that his extra eye and arms will leave him when someone sets him on lap and that person would also be responsible for Shishupala’s end. When Krishna visited aunt Satyavathi, she kept Shishupala on Krishna’s lap. At that very moment, the extra eye and arms disappeared from Shishupala’s body. This also meant that Krishna was the one who would be responsible for the end of Shishupala. So Satyavathi asked Krishna to pardon his 100 mistakes before killing him. Shishupala lost count of his mistakes and was beheaded with the chakra.
This does teach us an important lesson. Always monitor your portfolio on a timely basis. Make appropriate changes whenever necessary. Keep track of your investments.