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i understand you as a man uh of high conviction and high opinion and in the same breath you say that it's very very vital to accept when you are wrong and change tax as well are you a lot more nimble footed than what maybe and how important would that nimble-footedness be in in investing as well as in trading well i'll take two separate views trading is there but late so trading you have to take very short term decisions right because you know you cannot you for training you need three things you need there are only two horses bull and bear right so you need you need to have a broad you know broad idea of the market don't try to be too expert this will go up by five percent this will go about you can know the trend you can't know the depth right so have a broad direction of the market follow the trend know what to do what to risk and know when to take a loss you know churchill has said you have to lose money at battle to win a war so if you're wrong you're wrong right we will fight we will live to fight another day and in trading i in investing i invest with great conviction right i give a lot of time sometime more than i should but if i'm wrong i accept what's wrong i'm not i'm not afraid to make a mistake i only want to make what one which i can afford so i may lift to make another one so i'm not i mean there is nothing like but if you have patience your patience will be tested but your conviction will be rewarded but you can't wait for eternity for that and remember one thing markets are always right if you feel market is not right and you are a market setter and you are you are the boss you know everything boss you will end up in jumble okay okay that that's uh coming from you that's uh telling telling point as well i have made so many mistakes in life yes i've made so many mistakes in life and no regrets you're liking about learning they're not about regrets what are you thinking i should learn from the mistakes yeah i mean maybe at some point of time i would love you to maybe if you can and if you feel like illustrate maybe one of those things but just one follow-up question mr junchanwala i i've heard you once in one of your previous interactions talk about how uh any great investment would be a factor of a few a combination of a few factors including the study the conviction that one has and patience as you rightly said patients will be rewarded what do you reckon is the most important ingredient for a young mind to start inculcating in her or him in order to be successful at this act first they should love martials they should be passionate about they should have some idea of financial statements they should have more wisdom and less intelligence remember it's an act of wisdom not in academically lastly you realize that see you're living in a future the future is going to be unskilled right so how you assess the future right is how well you will invest and also you know i think people make a lot of mistakes because they don't want to acknowledge they feel market is wrong they are right and i think without passion we should have curiosity and remember one thing everything in the world affects minds and never forget it's nothing but human psychology which is which has prevailed right from the stone age and no technology and no artificial intelligence is going to be able to change it because finally it is human intuition and knowing what to risk and don't trade with your mother's money and your father-in-law's money and your husband's money right then remember one thing it is fire you are entering fire be vigilant it's not so easy to make money in markets and it's more difficult to retain and growth and you know you should know what to risk and i think you know someone says we will buy 500 shares no amount of shares are small and you know i find i see a lot of ladies here there you know ladies in my opinion are both financially emotionally better than men and their family because women are in india are brought up this legality yeah so otherwise we retain that you know that helps when you think about financial goals your attitude should be that is alternative investments give you six seven percent return security gives you 14 to 18 return you're at king in 18 return your money levels in four years in six percent return it doubles in 12 years so understand the difference between six and eighty and for myself if i get 18 return on my portfolio i'm a king if i get 21 percent that's what i target you
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