On the morning of 17th October 2019, I lost the first-ever reader and subscriber to my posts, my greatest motivator and my most vocal critic.
I lost my father.
When he passed away, family and friends told me that the grief would subside with time, that time would dull the pain. The pain of realizing that he isn’t there anymore – though in a way he still is – remains as strong.
Confucius said that we have two lives, and the second begins when we realize we only have one.
Papa was born in 1949, but his second life probably began in 1971 when he met “Anand”.
"Anand" was Anand Sehgal, a character played by Rajesh Khanna in a movie called Anand, which was Papa’s favorite movie (he wrote down the note below after watching the movie).
Anand’s character was all about living with vivacity despite going through the experience of imminent death. The movie presented the philosophy that even in the wake of death, life could be lived vigorously, rather it should be lived that way.
The protagonist Anand Sehgal had cancer (maybe Papa was so impressed with Anand, that he also took on this very disease) and was supposed to be alive for a few months only, but believed that ‘life should be large, not long’.
He was neither sad nor scared about his impending death. He wanted to live as much as he could in his remaining days, to enjoy and share his happiness (anand) with everyone around.
Papa was exactly like Anand. Like him, he shared all his happiness with the world, while keeping all his grief within (maybe that caused the downfall in his health over the last few years). He had his share of flaws, but he was a genuinely good man – in a pure, innocent way.
He wanted, more than anything, to do good in the world, to always do the right thing. That is one attribute I picked up from him, and I thank God I did that.
Another thing I learned from Papa was that the best life one could live was not one in which a person did big, great things that influenced the lives of millions, but one in which you made a difference in the part of the world you touched, no matter how small.
He said that a life in which you helped only one person because that was the only opportunity you had to help someone else was just as great a life as that of someone who changed the lives of millions.
Papa was a wonderful writer, and I believe he wanted to do more of it after college. However, being the eldest in the family, he was not given any option by my grandfather other than joining the family business which then took away all his time.
Now, as I look back to his life, I wonder if our dreams are really our own, or if we are all destined to fulfil the unrealized dreams of our parents.
As I remember Papa and celebrate his life, it strikes me that perhaps the best way to remember the life of someone who shaped and inspired you is to realize their dreams.
Perhaps the best way to honour them is to carry the torch they dropped, to pick up the broken pieces of their hopes, to revisit their unfulfilled dreams and also their failures and turn them into successes.
Perhaps the best way I can celebrate Papa’s life is to try as hard as I can to walk in the world with the same compassion, humility, love, and joy that he carried with him so that the light of his life will not extinguish even after the passing of his mortal body.
“Your parents, they give you your life, but then they try to give you their life,” said Chuck Palahniuk, the noted American fiction novelist.
Papa, I realize now, gave me his life. I hope I stand up to it.
For now, I can do nothing but miss him.
As a young, modern society, we seem to have lost a huge part of our compassion towards our parents. We’ve become insensitive to the core values we were taught as children.
Like me, even you must have been raised by parents who believed in the validity of a handshake and touching elders’ feet, and the importance of treating others as they themselves expected to be treated.
But tragically, as our parents age, they are faced with the realization and loss of these basic rules that binds our lives. Just step back and reflect on the dignity that is owed to your ageing parents.
Keep in mind what is hard for us as children, is ten-fold harder for our parents. Know that the process of growing old brings with it moments of freedom and joy, but it also carries fear and loss of personal worth.
The “what if’s” of life has become a reality and the ageing parents find themselves torn between living an independent life, and being dependent on their children.
Remember they never left us alone or afraid, and never ignored us as children. Instead, they always kept us close at hand and heart…always watching us carefully…always present for us though all our pains and trouble…always there.
When the roles reverse (like for me and maybe you, it has already reversed), we must remember to love and treat our parents with dignity and honour — for without them, we would be nothing.
We must change the way we treat our parents – physically, emotionally, financially – by preserving their dignity as they surrender to their ageing body and weakening soul.
This is probably the best gift of gratitude we as children can offer to them. After all, most of what we’ve learned…we’ve learned from our parents. If for nothing else, they have earned the right to earn our compassion, our gratitude, and a place in our financial priorities.
I can imagine a world where every child respects his parents and gets respect from his/her child. It would indeed be a wonderful world.
Walter Schloss was an outlier among outliers, and yet most investors probably never heard of him. Even I didn’t hear about him until a few years back, while I was in the process of discovering about #valueinvesting.
Schloss graduated high school in 1934 during the Great Depression and got a job as a “runner” at a small brokerage firm. As a runner, his job was to run and deliver securities and paperwork by hand to various brokers on Wall Street.
The next year, in a stroke of luck, when he asked his senior for a better profile at the brokerage, he was asked to read a book called Security Analysis by Ben Graham.
After Schloss read Security Analysis, he wanted more.
Not just to become a bit more literate in basic #investing math, but also to avoid getting fooled by claims of people promising to double your money quickly.
Here's what this rule is all about.
The rule of 72 is a financial concept that is often used to estimate the time it will take for an investment to double in value.
It is based on the assumption that the value of an investment will grow at a fixed rate of return over time.
To use the rule of 72, you divide the number 72 by the expected rate of return on your investment. The result is the number of years it will take for your investment to double in value.
A note/reminder on when and why NOT to sell a great business you own.
Consider this. If you want to multiply your money 100x in 25 years, you want your investment to return 20% every year.
In other words, ₹1 growing at 20% per annum will turn to ₹100 after 25 years.
But if you sell this stock after 20 years (instead of holding for 5 more years), you will get just ₹40. The remaining ₹60 would come only between the 21st and 25th years.
Even if you earn 15% return per annum, your ₹1 would turn to around ₹35 in 25 years. But 50% of these returns would come only between the 21st and 25th years.
'Experienced' investors, with ~20 years of experience (like yours truly), here are a few qualitative things you may want to know before you continue investing your money in stocks.
Grab some green tea. 🍵
Just being in the markets for 15-20 years does not mean you've known and seen everything that is there to see in investing. Markets will continue to prepare some really tough question papers for you. Don't get caught napping.
You may have gotten one prediction right in the last 20 years. This does not make you an expert in predicting, especially the future.
So, stop predicting and seeking predictions. Just keep preparing for the rough times coming your way (and they will).