Pearls of wisdom from Basant Maheshwari
All large investors started small. If the corpus was built on salary or non-market related income then you always seek risk averse strategies. If you start on inherited wealth you’ll do below average to average returns. You have to start poor. Having nothing to lose is an advantage! The first 10 Lakhs needs a lot of self control. You have to stop spending to reach here. The next 15 Lakhs needs skill. You have to grow what you’ve saved. From 25 Lakh to 50 Lakhs it’s self control. You have to stop thinking of buying a home, car, Holiday, TV etc. if you’ve hit 50 Lakhs wealth creation will become a habit. But it’s not the end. You have to still be hungry for more. You can’t buy ETF's and large cap stable names. You have to look at growing not protecting. And the best wealth decisions won’t come out of a consensus opinion. The final trick is to see if you are doing well and people are scaring you off. ‘Bech de’ if that’s happening you are ok. If you are not...