Simple planning for your family
Ideal I should have shared this on 1-Jan for new year resolution, but I discovered its new financial year that’s more appropriate. In case you are wondering about title, not to worry I am not gone be telling you about family planning, but rather financial planning, hope that clears the air. Also I don’t make any financial gain, if you choose to follow by advice.
I come from finance background and have seen lot of family suffer because major bread earner didn’t take few simple precautions. Hence I am writing you in to remind you “Your Family is all you have and you are all that they have”, hence you ought to be more careful in case you are unable to provide financial support to them.
First thing first take simple “term insurance plan”, contact any agent or website and buy it. Agent might show you all different possible types of plan, just like clothing showroom does, but trust me on this one; you don’t need any fancy plan. These are typical cheap plan compared to other plans because if you don’t die you don’t get anything (stop being typical Indian, don’t think your money goes waste if you survive). On other hand if you have tonnes of money & assets then you can think of skipping this.
As with regards to how much it should be some ways to arrive at number is 1) 10x your annual income or 2) double your annual household expenses and make it 10x. You can be more precise but this should just work fine. Now check out quotes on website and buy the one you are comfortable with, make sure you declare everything in your policy (if you drink alcohol, admit it in form same for smoking etc). Remember it’s your family who will get this money in case you die, you don’t want them to suffer because you didn’t declare some habit of yours. Strict reminder don’t opt for money back policy (you get money if you live, those be worthless some years down the line if you die)
Second buy medi-claim/health insurance – if you go to hospital, this is what will help you, stop thinking I have never meet with accident till date. you can check out typical hospital expense to get idea why I suggest this. Best would be if you can buy for everybody in family, if you can afford it go for it.
In case you have any query, feel to get in touch with me. Do pass it on to your friends and other family member.
Be Financial Responsible individual
Saturday, April 25, 2015
Read, Learn, Improve - 25-Apr-15
Rolta Saga continues company issues rebuttal - Link here , in response to which Research house issued another research report – Link here . (First Report of Rolta Saga, from where all started - Link here )
Must Read - How successful people work less—and get more done – Link here
What is high frequency trading and how it affects you? – Link here
The Trickiest Part of a Penis Transplant? Finding a Donor – Link here
The Importance Of Thinking Backwards, And 5 Inverted Questions That Will Flip Your Thinking Upside Down – Link here
The whistleblower's tale: How an accountant took on Halliburton – Link here
The Wolf of Wall Tweet - (Bot/program made $2.4mn) – Link here
Endangered Dog Breeds and the Market Forces Behind Them – Link here
Twelve inventions that could change the world – Link here
I am a hypocrite - Net neutrality died a long time ago – Link here
Bangladesh Textile worker saw their salary decline – Link here
29 Unforgettable Quotes From Game Of Thrones That Share Wisdom About Life – Link here
Must Read - How successful people work less—and get more done – Link here
What is high frequency trading and how it affects you? – Link here
The Trickiest Part of a Penis Transplant? Finding a Donor – Link here
The Importance Of Thinking Backwards, And 5 Inverted Questions That Will Flip Your Thinking Upside Down – Link here
The whistleblower's tale: How an accountant took on Halliburton – Link here
The Wolf of Wall Tweet - (Bot/program made $2.4mn) – Link here
Endangered Dog Breeds and the Market Forces Behind Them – Link here
Twelve inventions that could change the world – Link here
I am a hypocrite - Net neutrality died a long time ago – Link here
Bangladesh Textile worker saw their salary decline – Link here
29 Unforgettable Quotes From Game Of Thrones That Share Wisdom About Life – Link here
Saturday, April 18, 2015
Read, Learn, Improve - 18-Apr-15
Rolta fraud report - very insightful analysis - must read for budding analyst – Link here
BlackRock CEO Larry Fink just told the world's biggest business leaders to stop worrying about short-term results – Link here
Time warp: Warren Buffett on the stock market, circa 1999 – Link here
Skyrocketing Sales Could Hurt Luxury Car Makers – Link here
How Mushrooms Can Be Used To Make Particle Board Less Toxic – Link here
Who Owns the Copyright to "Happy Birthday"? – Link here
Min(d)ing the Opportunity - Excess Returns Require the Chance to Apply Skill – Link here
Six Strategy Traps – Link here
Endless options can be exhausting. We need to know when choice matters – Link here
Goldman Sachs Offers Three Methods For Selecting Stocks To Short – Link here
War. What is it good for? - War as Creative Destruction – Link here
New ways to count viewers – Link here
BlackRock CEO Larry Fink just told the world's biggest business leaders to stop worrying about short-term results – Link here
Time warp: Warren Buffett on the stock market, circa 1999 – Link here
Skyrocketing Sales Could Hurt Luxury Car Makers – Link here
How Mushrooms Can Be Used To Make Particle Board Less Toxic – Link here
Who Owns the Copyright to "Happy Birthday"? – Link here
Min(d)ing the Opportunity - Excess Returns Require the Chance to Apply Skill – Link here
Six Strategy Traps – Link here
Endless options can be exhausting. We need to know when choice matters – Link here
Goldman Sachs Offers Three Methods For Selecting Stocks To Short – Link here
War. What is it good for? - War as Creative Destruction – Link here
New ways to count viewers – Link here
Saturday, April 11, 2015
Read, Learn, Improve - 11-Apr-15
Charlie Munger Daily Journal 2015 Meeting full notes – Link here
A Dozen Things I’ve Learned From Henry Singleton About Value Investing & Venture Capital – Link here
How Criminals Built Capitalism – Link here
Distribution Economics: Understanding Wall Street's Conflict of Interest Problem – Link here
Preventive healthcare doesn’t always work – Link here
Do anti-smoking labels encourage smoking? – Link here
Warren Buffett: Notes From The Q&A Between MBA, HBA Students – Link here
Common petrol pump scams in India – Link here
Infographic - Developing Economies Graying Faster – Link here
Why Google created a self-driving car and DuPont didn’t – Link here
I am strong believer of free market, at the same time it also means giving fair chance to smallest and biggest player. Hence it becomes utmost important to pay attention to ongoing discussion on net neutrality. Read this article to get better idea - The Airtel Zero idea: Splitting India’s Internet into many Internets – Link here
A Dozen Things I’ve Learned From Henry Singleton About Value Investing & Venture Capital – Link here
How Criminals Built Capitalism – Link here
Distribution Economics: Understanding Wall Street's Conflict of Interest Problem – Link here
Preventive healthcare doesn’t always work – Link here
Do anti-smoking labels encourage smoking? – Link here
Warren Buffett: Notes From The Q&A Between MBA, HBA Students – Link here
Common petrol pump scams in India – Link here
Infographic - Developing Economies Graying Faster – Link here
Why Google created a self-driving car and DuPont didn’t – Link here
I am strong believer of free market, at the same time it also means giving fair chance to smallest and biggest player. Hence it becomes utmost important to pay attention to ongoing discussion on net neutrality. Read this article to get better idea - The Airtel Zero idea: Splitting India’s Internet into many Internets – Link here
Monday, April 6, 2015
Read, Learn, Improve - 4-Apr-15
Sperm donation: a lucrative and growing industry – Link here
14 Secrets of Really Persuasive People – Link here
A Few Lessons – Link here
The Implosion Of A Warren Buffett Wannabe – Link here
I’m Just Now Realizing How Stupid We Are – Link here
Airbnb's first-ever pitch deck – Link here
The Lincoln Memorial and the 5 Why's – Link here
Battle for Raymond: The complete story of Madhupati Singhania – Link here
Monday, March 30, 2015
Read, Learn, Improve – 28-Mar-15
Read, Learn, Improve – 28-Mar-15
The Western world has turned its back on car culture – Link here
How luck works – Link here
Behind TaxiForSure’s sellout – This is absolutely amazing behind the scene insight of ola-TaxiForSure acquisition – entrepreneur raised 1/9th money of Ola and sold it at 10x – Link here
Facebook Crashes the Payments Party – Link here
Predictable irrational - Computer password – Link here
The Fuzzy, Insane Math That's Creating So Many Billion-Dollar Tech Companies – Link here
Consumer culture has found its perfect match in our mobile-first, fast-fashion lifestyles – The reason why flipkart is winning - Link here
What’s Right With Finance – Link here
Things You Didn’t Know About Buffett’s Strategy – Link here
The Western world has turned its back on car culture – Link here
How luck works – Link here
Behind TaxiForSure’s sellout – This is absolutely amazing behind the scene insight of ola-TaxiForSure acquisition – entrepreneur raised 1/9th money of Ola and sold it at 10x – Link here
Facebook Crashes the Payments Party – Link here
Predictable irrational - Computer password – Link here
The Fuzzy, Insane Math That's Creating So Many Billion-Dollar Tech Companies – Link here
Consumer culture has found its perfect match in our mobile-first, fast-fashion lifestyles – The reason why flipkart is winning - Link here
What’s Right With Finance – Link here
Things You Didn’t Know About Buffett’s Strategy – Link here
Sunday, March 22, 2015
Most (not everyone) people believe Analyst know what’s gone happen tomm in market
This post is kind of mashup discussion that came about while I was discussion markets in general with two very good friend and analyst - SJ & BA.
Most (not everyone) people believe Analyst know what’s gone happen tomm in market
One of the constant thing that analyst do is “meet management of company” at 5-star hotel of the city like Taj @ Apollo Bunder/Gateway of India, Trident/Hilton at Nariman Point, etc. While visiting one such company management along with my colleague who goes by the name of Sanjay Khan (The Shining Bald) we accidently bumped in old foreigner while entering elevator. We apologized and helped him stand up, given his old age we thought its best if we accompany him till his room. And this conversation happen during the period
Analyst: we are extremely sorry sir, I hope we have not hurt you too much.
Old Gentleman: no no I am fine, you boys ought to carry on with you work and not bother about me
Analyst: no sir, how can we do that, it’s our duty. Anyway my name is Raj and this is my colleague Shining Bald..i mean…Sanjay Khan…I mean…
old gentleman: I am Mr Buffett
Analyst: nice to meet you Mr Buffett
Mr Buffett: so what do you do for living Raj?
Analyst: Sir I am Stock Market Analyst
we reached his room and he open his door and stood there looking at us and spoke “you know why god created Analyst?
Analyst: ummm…so that we can find good stock for investment?
Mr Buffett: no…so that weatherman doesn’t get left alone.
He smile said thank you and closed the door, while I was left wondering in thoughts, Shining Bald was almost rolling on floor and laughing like a kid (ROFLK)
Most general people believe that analyst have ability to forecast or know what is gone happen in stock market in future. Once, Analyst was asked by a person, of which stocks are gone increase tomm, Analyst enquired why he thinks that he know future? And pat comes reply “because you work in stock market”. Analyst was like but that doesn’t make sense, he was like it does, you work in stock market and people who work in stock market know what’s gone happen tomm and day after tomm and so on, Analyst was like “but what gives us ability to do so?”, he said, “ that’s how it is”, I said “who says so?” And he replied “fine, don’t tell me, you make money, while I will remain poor”
I don’t know why most general public hold that belief, but Mr Buffett was right when he said “analyst exist so that weatherman are not left alone”. Think about it, how many times has weatherman gone right?............same is the case with analyst, but people still believe in analyst can predict future and hence their keep on asking him.
There are 2 reasons why people are this way (1) Human nature and (2) somebody claims he can do it and 3) competition to fuel this
Human nature is pretty amazing piece of work, since time immemorial humans have always wonder about what future would be like, hence we have huge fan following of “Back to the future- trilogy” and hence, Indian community has astrologer too. Look it from perspective of businessman or capitalist or marketer and you have wonderful opportunity to cater too. Since demand exists, broker/analyst fulfills it. Second, there would always be somebody who would claim he can forecast future for precisely above reason. hence even if general public at large might know that no one can predict/forecast future, but if somebody claims people would still be interested in paying him and knowing the same (no matter how much ridiculous or fake it might be).
A stock broker works on same logic, people in general want to know what future would be and if beneficial he would be interested in making use of that opportunity. Knowing this stock broker asks his analyst to predict future of Sensex and voila you have a report stating “Sensex at 50,000 by 2020”. Broker very well knows its long time and people suffer from short term memory loss, also you can always come up with new report to make it more exciting. Finally you have competition, if one broker does it, other would out do it and so would other and of course you have 24 x 7 TV channels, newspaper and people around you who continuously bombard you with it and make it sound true “ that humans can predict future and you would be fool in not believe the same”
While giving pocket money, parent always say “don’t spend all at one go”. Whenever you are crossing road, you ought to look on both sides before crossing. Now we cannot predict future, but we can always minimize our loss & try to be safe. Same goes for stock market investing, nobody can predict future, but there are always way to safeguard and protect your money. If somebody claims ability to predict future, I suggest you get out of there at very moment.
Most (not everyone) people believe Analyst know what’s gone happen tomm in market
One of the constant thing that analyst do is “meet management of company” at 5-star hotel of the city like Taj @ Apollo Bunder/Gateway of India, Trident/Hilton at Nariman Point, etc. While visiting one such company management along with my colleague who goes by the name of Sanjay Khan (The Shining Bald) we accidently bumped in old foreigner while entering elevator. We apologized and helped him stand up, given his old age we thought its best if we accompany him till his room. And this conversation happen during the period
Analyst: we are extremely sorry sir, I hope we have not hurt you too much.
Old Gentleman: no no I am fine, you boys ought to carry on with you work and not bother about me
Analyst: no sir, how can we do that, it’s our duty. Anyway my name is Raj and this is my colleague Shining Bald..i mean…Sanjay Khan…I mean…
old gentleman: I am Mr Buffett
Analyst: nice to meet you Mr Buffett
Mr Buffett: so what do you do for living Raj?
Analyst: Sir I am Stock Market Analyst
we reached his room and he open his door and stood there looking at us and spoke “you know why god created Analyst?
Analyst: ummm…so that we can find good stock for investment?
Mr Buffett: no…so that weatherman doesn’t get left alone.
He smile said thank you and closed the door, while I was left wondering in thoughts, Shining Bald was almost rolling on floor and laughing like a kid (ROFLK)
Most general people believe that analyst have ability to forecast or know what is gone happen in stock market in future. Once, Analyst was asked by a person, of which stocks are gone increase tomm, Analyst enquired why he thinks that he know future? And pat comes reply “because you work in stock market”. Analyst was like but that doesn’t make sense, he was like it does, you work in stock market and people who work in stock market know what’s gone happen tomm and day after tomm and so on, Analyst was like “but what gives us ability to do so?”, he said, “ that’s how it is”, I said “who says so?” And he replied “fine, don’t tell me, you make money, while I will remain poor”
I don’t know why most general public hold that belief, but Mr Buffett was right when he said “analyst exist so that weatherman are not left alone”. Think about it, how many times has weatherman gone right?............same is the case with analyst, but people still believe in analyst can predict future and hence their keep on asking him.
There are 2 reasons why people are this way (1) Human nature and (2) somebody claims he can do it and 3) competition to fuel this
Human nature is pretty amazing piece of work, since time immemorial humans have always wonder about what future would be like, hence we have huge fan following of “Back to the future- trilogy” and hence, Indian community has astrologer too. Look it from perspective of businessman or capitalist or marketer and you have wonderful opportunity to cater too. Since demand exists, broker/analyst fulfills it. Second, there would always be somebody who would claim he can forecast future for precisely above reason. hence even if general public at large might know that no one can predict/forecast future, but if somebody claims people would still be interested in paying him and knowing the same (no matter how much ridiculous or fake it might be).
A stock broker works on same logic, people in general want to know what future would be and if beneficial he would be interested in making use of that opportunity. Knowing this stock broker asks his analyst to predict future of Sensex and voila you have a report stating “Sensex at 50,000 by 2020”. Broker very well knows its long time and people suffer from short term memory loss, also you can always come up with new report to make it more exciting. Finally you have competition, if one broker does it, other would out do it and so would other and of course you have 24 x 7 TV channels, newspaper and people around you who continuously bombard you with it and make it sound true “ that humans can predict future and you would be fool in not believe the same”
While giving pocket money, parent always say “don’t spend all at one go”. Whenever you are crossing road, you ought to look on both sides before crossing. Now we cannot predict future, but we can always minimize our loss & try to be safe. Same goes for stock market investing, nobody can predict future, but there are always way to safeguard and protect your money. If somebody claims ability to predict future, I suggest you get out of there at very moment.
Subscribe to:
Posts (Atom)