Tradingqna book club: MONEY WISE: Timeless Lessons on Building Wealth By Deepak Shenoy

[Ravi18]

Psychology of money is way better than many other books, that doesn’t mean you don’t read other books. Deepak is very honest and candid in sharing his wisdom with respect to Indian Stock Market. There is a lot to learn from people like Deepak Shenoy through his book, his tweets and his blogs. He is very witty with great sense of humour, avoids euphemism and calls a spade. a spade.

[t7support]

@Parth111

As Deepk points out “Look deeper and you find that most mutual funds struggle to beat the Nifty. And no matter when you look, the Nifty index always seems to be consistently among the top performers.”

For this reason which I realised many years ago my investment in mutual fund is motivated solely by section 80C for tax saving.

[ramananantha]

@Parth111

As Deepk points out “Look deeper and you find that most mutual funds struggle to beat the Nifty. And no matter when you look, the Nifty index always seems to be consistently among the top performers.”

I beg to differ. There has been a long interaction in the previous messages on the pros and cons of active funds. Please check it.

I can debate on this forever

[Prakashsingh]

Just finished reading the 3rd Chapter and in my opinion, this is like the heart of the book

Walking the talk : A practical Approach to Investing

Here’s the summary :

• When it comes to investing and personal finance journey …Nothing can be generalised

• Absolute Importance on Emergency Funds : pehle Emergency Funds, baaki sab baadme

• Life Insurance : 40 years of expenses and accounting for Inflation. How much will my dependants need to live the rest of their lives If I die today ?

• Long term Goals - Kid’s Education , Marriage need to planned and considered

• Overall Strategy : If no idea what to do, 50% in risk bucket (equity) and 50% in low risk bucket (Fixed Income)

• Formula for Own Retirement : Annual Expenses Currently * Years remaining to retirement * 3

• Tactical Approach towards Investing decision making : If we have Time - Inclination - Ability/Skill , Go for Active Route by Regularly Assessing performance . If not, going for Passive Route would be well recommended.

• Detail explanation on Gold as Investment. - Investing in other productive assets which help in economic growth is recommended

• Which age to start ? - A detailed discussion on the age factor

• Various Resources for buying Mutual Funds , Stock fundamentals , Personal Finance

[Lalit_Kishor]

@Ravi18

There is a lot to learn from people like Deepak Shenoy through his book

medicore, tbh there was nothing new in it.

it’s just stories packed with basic market wisdom

[Lalit_Kishor]

@Zoya

The more diversified a portfolio, the better.

you got it wrong mate

[Lalit_Kishor]

@Praksy

Psychology of money is way way better than this book. The author Deepak has just published his book and Zerodha is doing his book promotion

I wish for people are like you in this forum! others simply bootlick