Both living life and investing could be simple and uncomplicated if only we were more sensitive to our own unique needs and paid more attention to our environment. Sant Kabir and Rahim were very observant of the way people behaved and offered timeless solutions to the complexities of life in a very lucid manner. Their advice, when interpreted appropriately, is immensely pertinent for investors even today and can help preempt common mistakes that we tend to make in our financial lives.
Dohanomics' is a collection of forty gems from Sant Kabir and Rahim, interpreted by the author, who has studied their ancient wisdom and applied it to behavioural aspects of investing. Presented in practical and logical terms, often with contemporary examples from the financial world, these interpretations offer both novices and seasoned investors robust counsel that can be implemented effortlessly to elicit success in the world of investing.
Vinayak Sapre is a financial coach who empowers both IFAs as well as retail investors with the knowledge of successful investing habits and other values that one should cultivate in one's financial life. He has been writing regularly on digital platforms and has been consistently featured in both the print and electronic media for this unique concept of 'Learning from Kabir and Rahim.'
With 17 years of experience in the financial world, 12 of which he has spent in various capacities with mutual funds, Vinayak Sapre has interacted with approximately 2000 IFAs, bankers and national distributors. Vinayak is also a trainer and mentor to IFAs and runs a firm called INSIGHTS.
When Vinayak requested me to write the foreword for this book, I was most happy to do so as the very idea of learning lessons on investing from our erstwhile saints excited me. I was also more than willing to provide an introduction as I knew that Vinayak had worked in the mutual funds sector and he understood the pulse of both investors and advisors.
Investment is not a western concept. In our culture, Lakshmi and Sarasvati go together. Investing is not complex; it is simple but it requires discipline. Investing is largely based on common sense, which is not so common.
In the book, Vinayak has beautifully interpreted the couplets of Sant Kabir Das and Sant Rahim. The language used is simple and examples are drawn from real life experiences that the reader can connect with. Relating his interpretation of couplets to the quotes of experts from the west not only bridges the gap between the east and the west, it also makes a great read for Hindi as well as English readers.
A majority of investors focus a lot on which securities they should select. They don't spend enough time on how much to invest in that security when appropriate. One common mistake which investors make is investing by looking at past performances. The behaviour of investors substantially impacts the performance of their investments.
This book deals with the behavioural aspects of investing.
Conventional financial theory suggests that investors are rational and seek to maximize their wealth through objective, non-emotional investment decisions. However, the emotions of fear and greed, along with a herd instinct, lead to irrational investment decisions. Most of us know markets go through cycles of ups and downs. During these movements, people go through different cycles of emotions. The book covers these moments beautifully and also conveys a strong message of how to behave in such situations.
Dohanomics, as a book, has put a lot of emphasis on the need for investors to stay rational and focus on their financial goals instead of falling prey to greed. Just as it is important to be in the company of good people in our lives, in the world of investments it is important too. However, it is easier said than done. Choosing a good advisor is not easy and setting the benchmarks for expectations is even more difficult.
**Contents and Sample Pages**
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