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That is indeed an amazing analysis Sir. The greater point here is it lands exactly where it has to be, that is, on students like us who will or have started investing. The insights you provided are relevant and useful. You talked about strategies as well. I would like to provide some of my learnings and how I have changed as an investor. I had heard the success stories of many investors and every time I was amazed by them. I always wanted to learn about stock market when I was doing my engineering. I had this notion that stock market can get me more money than any other job. So I started practicing it with virtual money and soon I made good intraday profits. This further strengthen my false notion of making quick money on stock markets. After engineering. I worked for 2 years before joining SPJIMR. I earned sufficiently enough so that I could save around 30 % of my salary for myself and invest in stock markets. I was waiting for my first paycheck so that I could invest. I started investing real money. And in two days, I made a huge loss. I was shocked. How can this happen? I have done this so many times before with virtual money, how could I not get it right here? I thought something is seriously wrong and I consulted my math teacher who is apparently pretty good at stock markets. He said “If you have made profits virtually doesn’t signify that you will make it in the real stock market. You were missing the biggest element, the impact on markets due to change in sentiments of investors around the globe. And that is what drives the local markets as well”. I was confused for a bit that a math teacher is relying more on sentiments than on numbers. It was hard to digest this fact. Yet I believed that his insights will bring new learning to the table. He then explained that the reason for this fall in stock market was because of the lack of liquidity of cash in US markets leading to its worst fall after 2008 recession. It affected the Asian markets very badly and hence Indian stock market also crashed. Investors lost faith in stock markets and the pulled out their investments. This was the reason for fall of stock price of the company I invested in and not because of my company’s poor performance. I realized this when I changed the perception about stock market. I learnt that stock markets can get you profits which is at an expense of someone’s loss. And that someone could be you. I realized that there is no point in intraday trades if you want to grow your capital. Had I invested with a view to gain in long term, I would have not made that loss. One strategy during such events is that if you are looking for long term gains and when he market is down, you buy more shares at a very low price thus bringing down your weighted average. As and when the market correction happens, these stocks do give a decent payoff. I learned from this and followed a similar strategy during Brexit, Trumps elections and Demonetization. These global disruptors can take all your money. But if make use of them wisely, it adds to your benefits.

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