December 12, 2015 Leave a comment
In a room full of brokers, money movers, money managers and money handlers, there’s quite a lot of people interested in making more and more money faster and faster.
Somewhere along the way, in the midst of grand visions, its easy to forget one’s fiduciary responsibility or in the face of conflicting fiduciary responsibilities, forget the weakest to whom we have a responsibility.
Yesterday at #KotakMidCapMeet15 ,there were people actively selling the government’s line. There were even people actively attempting to silence pertinent questions and steer the debate in typical #Bhakt style.
Perhaps people were speaking their honest convictions. Perhaps pushing or at least being seen to toe the government line was best for their businesses and themselves. Perhaps they even believed that they were doing their patriotic duty and advancing the interest of the “common man”.
These days if you’re not gushing about the Indian economy and its grand future, you are bound to be called selfish, anti-national, dishonest etc. There is no acknowledgement that we as humans can’t always be right, and that sometimes some things are too precious to gamble with. Hence my beef with grand visions based on credit creation. The whole world can’t be controlled by executive orders. When things go wrong,future generations will pay the price. I find it hard to back ventures and teams without this self-realization.
In any case, under these circumstances it was great to hear a person who could maintain his independent opinion and articulate it. If there is one thing Kenneth Andrade cares for it is the “little person”. The “small investor” who was promised something to part with his savings ,whose hopes for a better tomorrow are in the hands of money managers. If he was not over fond of debt, it was in consideration of how it could be deadly to the “small person” and to a “small-business”.
And when he bats for India, its not because he knows nothing of anything besides India, but has gone to the trouble of studying how things are elsewhere with a critical mind. He roots for India, not because he is blind to the ills in the country, but because he understands the strengths. Not for him, a love for something perfect,but a love that sees beyond short comings. And for him, the economy is about people, the many ordinary ones who invest and those who can’t afford to invest.
And today morning I got to read that Kenneth actually chose to resign from some very well performing funds, he had helped put together and run for years, because he felt that the mutual fund company’s own priorities was not in consonance of what was being promised to investors in the funds he managed. So, a man of principle, willing to walk his talk, no matter the consequences. A very rare breed indeed these days!#Respect.