It was March, and I get a few WhatsApp messages from panicking investors with a YouTube video link of an economist who predicts doomsday for India and Indian Stock Market. He further goes on and asks investors to sell everything and park the money only in Gold or just keep in the loft at your home also warns against depositing cash in a bank like SBI.
Investors also regularly send me the twitter screenshots of this person who seems to be waking up early in the morning just to post some bad news on the economy and bash the Prime Minister and Finance Minister on their policies. Then his day progresses on marketing the stocks he holds in his portfolio.
Disclaimer: I don’t follow both of them on any social media, but people do, and when in panic, they call me and maybe others since you can’t question both the above persons.
I have nothing to do personally against anyone, bringing it to your knowledge as to make you alert on people agendas.
Both of them have a large following on social media. I feel both are highly arrogant and unethical. The first person is a politician and records videos disguised as an economist and the second one is an agent of a financial product. He will promote his owned stocks, but if you reach him for any suggestions, he just turns you away. It was told to me by a few investors. I go with their words and assume they are right.
Practising what you preach is very difficult for some people. That’s why they are unethical is what I feel.
Iam in total agreement that markets have not been kind in the last few years. Particularly Jan’2018 onwards all gains of people got wiped off, and even five-year SIP’s started showing negative returns. Then such people comes out and asks you to sell at the bottom-most levels. Sensex was at around 26500 on 23rd March 2020.
We at Vridhi Money had a tough time convincing people to stay on and not fall for the panic selling. As always, some people stayed on, and their losses have narrowed down, while those who entered the market in Feb-Mar are today seeing gains.
Investors who panicked and sold are regretting today since all three market participants, FII’s, FPI’s, DII’s and even FDI is positive. Those tweeting venom and panic daily on social media add fuel to the fire which blazes in the minds of people during corrections. The Sensex today is at 34000+
You won’t believe how many troll messages I received when the article titled ‘Sell that house you own and invest in shares’ was posted. None of those trolls is sending me a message again today.
Being ethical and failing is better than being unethical and getting caught. End of the day Iam happy since being honest paid off, and markets have recovered.
The best thing about the recovery last week was it was broad-based. Since Jan’2020 the movement of the Index has been quite misleading with just a few stocks participating in the rally. This week we saw almost all type of shares involving. Hope it continues this way.
Don’t expect the market to keep the steam of the rally intact. Too fast a rise also can be unhealthy though valuations are quite favourable right now. A pause and then a rally again will be okay.
We have most probably already seen the bottom on 23rd March. Many who were predicting massive fall from 26500 are also telling the same 🙂
Another reason a massive fall is unexpected since the economy is being restarted from tomorrow the 8th June 2020.
Will the Corona Virus problem become larger from here? You should read this post for sure: https://www.facebook.com/MostWantedIndian/posts/10216299547834182
I feel we are far away from the peak. We may hit the No.1 spot too, but as mentioned in the previous post, we have to live with it. Some cities like Chennai, Delhi and Mumbai may continue restrictions but the other parts of the economy now opening up is a good thing for the markets. The doomsday sayers are going to fail badly.
A pessimist cannot remain in the market for long.
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