T. S. Kalyanaraman – Newly Minted Billionaire

wealthymattersAs per Bloomberg’s calculation T. S. Kalyanaraman ,Chairman and Managing Director of Kalyan Jewellers, the largest jewellery chain in India, is now a billionaire.This is his response to the news:“I don’t calculate my net worth.I am more keen to trade, develop my brand, but you may be right.”

Here is his story in his own words:

“My family has been in business for the last 110 years. It was my grandfather, T. S. Kalyanaramaiyer who first moved away from priesthood and became a businessman.He moved from Kumbakonam to Thrissur to start a textile mill. I think it was in the 1930s that the mill was taken over by the government and that was when he decided to start a textile shop.Later, my father Seetharamaiyer joined him followed by myself and my four brothers. Now, my sons also have joined the business. Read more of this post

Diamond Jewellery Buying Tips

wealthymatters.comDiamonds can be good investments for the people who know what they are doing and have a means of cashing them in on favourable terms.However investing in gold is a lot easier than investing in diamonds.So even at times like this, when the rapid rise in gold prices, tempt many people to look towards diamonds,there is a tendency to think of diamonds as valuable fillers and focus on the gold content of jewellery. So if you don’t want to spend too much on diamonds,here are some tips to help economize and still get good results.

(1)For the best value in what would appear to the naked eye as a colorless diamond, look for G-J diamonds. Because color is easier to detect in larger diamonds, opt for G-H in diamonds over 1 carat, and I-J for those under 1 carat. Once set in a ring, these diamonds will look just like higher color grade diamonds. Instead of investing in higher color, invest in higher cut, the most important factor in a diamond’s brilliance.

(2)Because diamonds with more facets reflect more light, they tend to hide color better than other shapes. So, consider round, princess or other modified brilliant cuts over step cuts such as emerald or asscher if you are concerned about color.

(3)If you are concerned primarily about carat weight, and are on a tight budget, consider a yellow gold setting and a round diamond in the K-L color range. A lower color diamond with a higher cut grade will have more sparkle and visual appeal than a higher color diamond with a lower cut grade.


Savitri Jindal’s Assets

wealthymatters.comHave you ever wondered about the assets of the really wealthy?Personally I have always been interested in knowing just where wealthy people have their money.My take is that wealthy people didn’t get that way or don’t stay that way without knowing a thing or two about keeping and growing their money safely.That is why I was interested when I came across her statement, given before the returning officer, while filing her nomination papers in 2009 for the Haryana Legislative Assembly elections.

Savitri Jindal is India’s richest woman. She is the widow of the late O.P.Jindal.In her statement given before the returning officer,Savitri Jindal states that she has moveable property worth Rs 17.75 crore and immovable property worth Rs 25.94 crore.I think it’s interesting to see how much of her money she has in a liquid form.Compare this to our asset allocation.Most of us are bound to have most of our money stuck in our houses.A house is a necessity, but it makes sense to acquire one’s fortune and then splurge on fancy houses rather than try to become wealthy by sinking money in our homes.

Savitri Jindal does not own a car.I think this lady shows us women a way out of owning a depreciating asset-claim you don’t drive.Having a car at one’s disposal is good but owning it might not be so wise wealth-wise.Keep the luxury car purchases for after you reach the stage of acquiring luxury homes. Read more of this post

Gold Facts


Gold Prices on the Street

The recent fall in gold prices in the international markets made news headlines in India.The MCX mirrored the COMEX but things were a little different on the street.Here is a story from this week’s Wealth Times.Do read it for an idea of how ETFs react vis-a vis bullion and for how to try and get a discount out of your jeweller.

Is the fall in gold prices genuine

Khyati Dharamsi

wealthymatters.comWhen gold prices fell by more than 2,500 from 28,210 per 10 gm on 21 September to 25,685 on 29 September,people hailed the good news.But much to their disappointment,they found that it wasn’t as cheap as it was touted to be.While the yellow metal was trading at the 25,000 mark,most jewellers charged 27,500 per 10 gm,even 28,200 at some stores.When asked about the difference in the rates,jewellery store managers said that the rates quoted in the media were averaged out,so they were not applicable. Read more of this post

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