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what about the investing business just in 2017 it was a bliss off late suddenly i meet so many investors they are saying oh god why did we put our money a lot of these first-time investors and my fear sir is that they may not come back into the market for the next few years your take on that yeah of course because the approach in the market is wrong no they have never you ask anybody who has come into this market that have they really done any courses what experience do they have have they done if you are if you want to become a doctor you are doing mabs for five years or llb for five years yeah so what kind of homework are you doing what kind of academic qualification you have to do uh to to come into the market right nothing so that is why i've said many many times that you see investing is a blessed business yeah okay according to me it's a secret business i remember i have read one poem in my childhood that i am monarch of all i survey my right there is none to dispute so and it means that actually i own everything but i i don't possess anything okay so uh so this is what uh actually investing actually gives us that kind of freedom it gives us that i am free and uncommitted right and plus what advantage you have along with the promoters suppose tomorrow a promoter uh sees that uh his company is not going to perform well maybe for next year one year or two years he cannot sell his shares but you are not carrying any baggage you can sell the share uh his shares tomorrow yeah and invest in some other company so it's a blessed business yeah till you abuse it you're talking about if you don't like the company and if you believe that in fact maybe the outlook's not good you have no obligation no baggage you can sell the shares but what about the sme space you know there was so much of momentum so much of talk about it suddenly people are scared but i was looking at couple of shares and in fact you know several companies you have increased your shareholding there so broadly i wanted your view on the sme space uh if you could explain to all our investors as well out there it was supposed to be a good opportunity of late there's a lot of fear i'll tell you i personally do not discriminate whether it is a small cab a mid cap or sme or main board it doesn't matter to me yeah if i like the company i buy in any platform if i do not like i can sell any stocks tomorrow last year i was very much bullish on canada bank at one point of time i was holding two percent as you know that uh but somehow i was not comfortable uh because to me peace is very important pc is more important than making money in the market so but i was not happy with the performance of the company so i sold my karnataka bank similarly i cut short my position into uh aries ago also and i switched over to like average industries i increased my position in because i thought maybe that will perform better than these companies so ultimately my money is in the market only people think they're playing a t20 they're coming and then they want to make money right away but that's not the case no of course not then you will burn your hand it's not possible so one has to be careful because of the liquidity absolutely you know one thing mystic area that i've seen in the past this market will either make you a lot of money or it will teach you a lesson that you will never ever forget if you get it wrong so you said you know one of those stocks that maybe didn't work out was karnataka bank you were quite bullish and in fact you got out of it but for the market on the whole what is the biggest risk people talk about you know we're getting into an election year you know crude has gone up as well according to you what is the biggest risk for our market now i don't know what is the risk risk is if you can assess any risk if you know that this is the risk then that is not a risk okay if you are talking about that maybe modi government is a risk or crude is a risk then i don't think that is a risk in the market because all this risk adjust itself okay with time if suddenly something happens then then things are different so i do not of course stock market as a whole is a risky business but what about political risk how big a risk is that you see i will give you one simple example i don't know whether uh modi government will come or not or whoever will come actually this company was ruled by congress for pretty ever since we got independence i think majority of the time it was ruled by congress okay so india so far reached whatever as people are also saying that whatever policy this government has laid down or implemented has been laid down by the previous government okay so congress is also a tested government okay bjp is actually doing something good okay so i don't care we have seen so many prime ministers we have seen mr devi god also as a prime minister and so many other people and at that point i think as well even the developer government the markets are fairly stable that's what i'm saying market actually adjust all these things uh so i am not and i do not have any answers to this also so i'm not worried to me it is uh not like a short-term thing to me it's like we know about vijay kedia the investor what about vijay kedia the entrepreneur i remember once you had said about a good manager in a bad business is better that that is better than a bad manager in a good business absolutely so tell us about mr vijay kedya the entrepreneur no no i have a failed entrepreneur i'm not a good entrepreneur at all my mind doesn't work there till now till now so far and as of now you're managing on your own money at some point of time would you consider going out there and managing people's money could that be a possibility no i don't know because i don't want to be accountable to anybody rather than just an income tax i don't want to be accountable to anybody until only somebody gives me five billion dollars five million dollars then you are considered but for that for the time being a happier with what i'm doing whatever you have learned in your life okay you should actually or whatever you are you have learned uh you should analyze yeah you should implement yeah and you should repeat yeah okay like in cricket once you get your position right you are in your comfort zone then don't try to switch don't try to be adventurous every now and then stick to your comfort zone and keep on repeating the process but don't leave learning absolutely keep on learning at the same time because if the situation changes if the weather changes if the pitch changes yeah then you have to change yourself yeah so that adaptability should be there absolutely otherwise if you are on the right track people repeating the same thing so we have markets we have meditation and what music music yeah so those are the three m's that you uh that you do your mantras in life have have to say yeah and fourth is my wife name fantastic you're hitting it out of the past absolutely yes i'm just catching you a bit off guard but um if you could sing a couple of lines of that particular particular you know song and you could tell us you know the the meaning of that as well and there's a message out there for market participants as well the song goes like this seeker oh that was lovely and what we what we got from there is you're talking about buying good companies look at the promoters buy it and forget it you're definitely giving a message out there to our audience run us through some kind of details what was your thought process when you were singing this song and what is the message you're giving out there actually i was traveling from bombay to bangalore okay so suddenly it came to my mind in the flight while sitting in the flight okay well why not i make it a song for the for stock stock market absolutely so the message is very clear invest for long term and the management is a very important part management is like a driver of your it's like a captain of your flight yeah okay if you will do any mistakes you will go down one of my quote that would you uh look into a management that he should be uh actually honest hungry and smart absolutely and in the past i remember you telling us about uh getting into a plane and enjoying the ride after that if i got that right right enjoying the flight once you are already sitting in there then there's nothing much yeah nothing much you can do if you're going from here to london what else can you do after one hour of flying you are old only depend on the captain of the flight then you just sit back and relax and have your wine or have your tea or green tea and enjoy life you were telling us about mistakes i mean you know some of those investments didn't work out you said about aries aggro you talked about karnataka bank as well but make a mistake once make sure you don't repeat it of course you learn no as we grow old we are learning we are learning from our as you also said no that you see when we are making money then we earn yeah when we are losing money then we learn okay so when you're in the process of making money that time you think whatever you are doing you are doing it right correct so you don't learn from the from your winning things and all right so this is what i am also learning so there is one code of mind that by likable sit like a bear and watch like an eagle so this is what the only work i have left with watching all my companies and how they are performing and keep on reshuffling them okay so although the horizon is to hold them for 10 years or 15 years that does not mean that i cannot sell my shares tomorrow if i like something which is not going as per my mind and i am actually stressed then i will certainly i will cut off that position absolutely i do not have any shame in that oh that's uh on that note mr kedia thanks so much for coming down to our studio it's been a pleasure talking to you we'll wrap up on this edition of master class with mr vijay acadia hope you enjoyed it
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