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Vikram Chachra @lemonandice
, 4 tweets, 1 min read Read on Twitter
1/n Summer 1987: My school friend's dad died at 45 in an accident. Weeks later, his mom showed me a pile of old share certs, since I used to ask him about IPOs. Discovered he left behind a blue chip portfolio of Rs 1.3 Crores ~ $750k. His salary: Rs 3,500 ~ 200 pm. Sensex: ~500
2/n My friend's dad was a middle class factory mgr at Tata Steel when he passed away. He applied for every good IPO for 23 years, from the day he got his first paycheck. And he never sold a single share. He re-invested every rupee of dividend he received into new IPOs.
3/3 Don't look at your paycheck & dismiss is as inadequate for creating serious wealth. Most of you in your 20s & 30s today will live to a 100. You have 70-80 yrs to compound your wealth as India's MCAP goes up > 20X from here.

Sensex at 37,717 will look cheap then. #Start today
So a Rs 1.3 cr portfolio sounds unbelievable in 1987? Those days the CCI capped premiums on all IPOs at Rs 10-Rs 30 per share, so most IPOs were bargains in an environment of low equity interest + Govt offered tax rebates on CAPEX so reinvestment was common across good companies.
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