Tool Kit | wealthymatters

Learning From King Bali

November 13, 2012 2 Comments

wealthymatters.com King Bali of Kerala was a generous ruler but also very ambitious. To propitiate the Gods he performed a Yagna (fire sacrifice). His Yagna was so successful that even the gods were terrified to appear before him and grant him a boon for fear that he might ask for something which was beyond their capacity. Some of the Gods pleaded with Lord Vishnu to check King Bali’s power. Lord Vishnu came to earth in the form of a dwarf dressed as priest(Vamana).

When Vamana reached King Bali’s court, he asked the king to grant him whatever he asked for. je proceeded saying, “You are the ruler of the three worlds: the Earth, the world above the skies and the underworld. Would you give me the space that I could cover with three strides?” King Bali laughed. This request seemed strange to all the courtiers, but king Bali granted it. Surely a dwarf could not cover much ground, thought the King, who agreed to dwarf’s request. Read more of this post

Filed under Theory, Tool Kit Tagged with Balipratipada, beware of arrogance, beware of hubris, Diwali, hunduism, King Bali, Lord Vishnu, postaday, Vamana

Something To Remember

October 30, 2012 11 Comments

Filed under Entrepreneurship, Tool Kit Tagged with do, doing, entrepreneurs, Entrepreneurship, postaday, think, Thinking

Eike Batista’s ‘The Heart of the Matter’

October 30, 2012 2 Comments

wealthymatters.com Eike Batista is Brazil’s richest person and ranked 7 in the world.In his book ‘O X da Questão’, translated:’The Heart of the Matter’ he recounts his trajectory in the business world and offers tips on entrepreneurship.Following are excerpts from the book:

1. “Nobody is happy alone. To share experiences is always a good thing.”

2. “You grown as a person when you face your own challenges, or stressful moments, as I like to say. A good entrepreneur must be prepared to evolve in adversity.”

3. “The good seller is the one who is also a good listener.”

4.“Believe in yourself. If you doubt in yourself, you won’t be able to face your co-workers. Or the market, for that matter.”

5. “Don’t quit on the first adversity. Believe in your intuition, but try to be down to earth as well, paying attention to research and polls.”

6. “Don’t think you are unstoppable or foolproof. Don’t think that the only way your business will work is through perfection. Don’t aim for perfection. Aim for success.” Read more of this post

Filed under Entrepreneurship, Tool Kit Tagged with billionaire, Brazillian billionaire, Eike Batista, Entrepreneurship, minimum risk, O X da Questão, postaday, The Heart of the Matter

Gold And Diwali

October 29, 2012 8 Comments

wealthymatters.com Buying gold on Diwali is a well established tradition in India.Have you ever wondered how well you would have done if you had bought gold every Diwali day for the last 10 years?Here are the stats:

In the past 10 years, gold has been a great investment. If you had bought some gold each Diwali over the past 10 years, then these are the gains you would have seen by the next Diwali in Rupee terms: 9.3 per cent, 11.7 per cent, 8.0 per cent, 26.6 per cent, 11.5 per cent, 32.7 per cent, 23.5 per cent, 22.8 per cent, 36.7 per cent, 16.5 per cent.Compounded, the total gains are 670 per cent.So you could say ‘Sona hee hai, koi fizool kharchee thodey naa hai.'(It’s gold, not a waste of money)and make a purchase this Diwali.

But before you go overboard ask yourself how likely it is that this run of unprecedented returns in gold will continue.Or in concrete terms ,how likely is it that 10 grams of gold will cost Rs 2 lakh in 2022?

My answer is:Your guess us as good as mine.But if 2 lakhs per 10 grams sounds absurd do take a look at this chart compiled by the RBI.Way back in 1992 or in 1970 what would you have said about today’s prices?

Life is uncertain.Time,wealth and happiness are transient.If gold,especially ornaments, make you happy,go ahead and buy them.You might not become a billionaire from holding them .You might even lose money. But they will be a surer source of value than the newest Tab or TV.