Investors must not panic when the market turns bearish, reminds investment banker turned author Anurag Tripathi
Kolkata, Sep 24 (IBNS): The depressed sentiment in the market is an opportunity to create wealth over the next five to 10 years, said investment banker turned author Anurag Tripathi while recently addressing a gathering in Kolkata
Tripathi was in the city for the launch of his second novel 'Dalal's Street', a financial thriller based on a group of young Indian business school graduates who are attracted to jobs in a high paying trading company.
Varun Aggarwal is desperate to break out of his middle class life. Anil is happy-go-lucky. Pooja has strong values. Devika banks on her attractive personality to sail through life.
This batch of hardworking, intelligent and ambitious friends is focused on success in the fast paced, hyper competitive world of stockbroking where greed, use of cunning and wealth are the stepping stones to survival and success.
The survivors are the winners.
"In 2006, I had the opportunity to create a retail equity broking business in India," said Tripathi while discussing the book. "Dalal's Street is a no-holds-barred fictionalised account of what I saw and heard during those days. I would say that it is part memoir and part fiction."
Tripathi, an alumnus of the Indian School of Business with a course in Advanced Creative Writing from The University of Oxford, Department for Continuing Education, juggled his expertise in both fields to ensure that the novel had all the elements of a thriller yet contained the much-needed information about the industry.
The book launch, organised by Niyogi Books at their central Kolkata store, was followed by a panel discussion titled 'The Bear Market Will Make You Rich' where Tripathi was joined by finance journalist Jayanta Mallick.
Tripathi reiterated the oft quoted expression that bull markets [when the market is rising] make you feel good but it is the bear market [when the market is down] that makes you rich.
Said the former investment banker, "You must put an SIP [Systematic Investment Plan] on an index fund and ride through this [depressed] phase. Index funds will over-perform when the market turns. Also, I have no doubt that equities should be the dominant asset class in your portfolio."
The book has been priced at Rs 350.
(Reporting and images by Subhashish Roy)
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
