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You will enter only when you have money in it. Now, on entering, let me tell you one thing. Your question is that we entered. What did I say right now, sir, only two people know the top and the bottom. One is God and one is a liar. Right, so your question is related to that, that when I enter, I know that it is the bottom.
Correct, that is impossible here, no one knows this. Okay, now we enter and the market falls. Everyone is always afraid that if I enter and the market falls, then you will regret it. So, sir, my quote is also here, but regret is a lifestyle disease of stock investing, equity investing. It comes with you.
That is regret. If you take an investment and after taking an investment, the market falls, then you regret it. If you do not take an investment because it will not fall and the market rises, then also you regret it. You have to regret in every situation. Out of these two regrets, you have to choose one regret for yourself.
Saying this, I said [ __ ] is more important than KYC Know Yourself What are the two regrets that you bought shares and the market fell, this is one regret, but if you have a long term judgment, like I told you, I do not do business for two, four, six months, I work for five years, 10 years, 15 years, then of course it is not that I do not face any pain, but this is the rule here, I will have to accept it, one regret is that I bought and it fell, another regret is that I did not buy and it increased, which of these two regrets will let you sleep at night, you ask yourself, for me this regret is very heavy that I did not buy and the market increased, it is better for me that I bought and the market fell and I am living with that sorrow, if that sorrow is there or whatever it is that I am living with, still I enjoy it, that is better than that, for me, one regret is of entry and second you asked about exit, the biggest regret is of exit There is no simple answer to this.
There are many reasons for exit, but what I have understood grossly are two reasons. One is that when the focus of the management changes from the company, then one should exit from that stock from the stock market. And secondly, when the focus of the management does not change, then also one should exit from the stock.
I will give an example of this in simple language, understand that you are making a three-wheeler company. You understand that you are the management of a three-wheeler company and I am making three-wheelers. Suddenly I have a cash flow of Rs. 100-20000 crores every year. There is a cash flow of Rs.
700-800 crores in the company. And I feel that my future is very good. And I think that now I have no shortage of money, I have cash flow and my rating in the bank is also good and I will get more loan also and I will go and buy a tyre plan, which is much above my capacity. Okay, if I do something like this.
While I work, my focus changes and it is beyond my capacity, then I should exit the stock. Another solution for the same is that when the focus does not change, suppose I am making automobiles, whether two wheeler, three wheeler, four wheeler and suppose I am making petrol IC engine, petrol, diesel, LPG, CNG engine, but if with time, if I do not come into electric vehicles, then even if that change does not happen, my future will slip away in two to four years.
So, speaking, it is necessary to know how the management is understanding the trend of its sector and what steps is it taking to evolve itself and this is one way. I had given an example once at many places, today I am giving it back. I had bought shares of a company, that is Jayshree Tea, it used to make tea, that company, so I had bought a few shares of it at a price of Rs.
400, so those shares were not very big, then after a few days I realized It was the second largest tea company in India, still maybe the second largest, it may have closed down, it may have become the first, I don't know, this happened about 10 years ago, then one day the management came and said that now we will buy sugar milk from sugar, we are in Bihar, Bihar is considered the sugar belt, main UP, Bihar is not considered such a sugar belt, so they have a silica, tea is also silica and sugar is also silica, now the sugar company which will buy it will also go and buy it in Bihar, so I did not understand what this company is trying to do, so this change in focus is a wrong change in focus, after a few days I went to meet AG, there I also met BK Babu, I had the good fortune of meeting BK Build, there such a conversation was going on with their director rector, then I understood in his mind that these people are now talking about something, someone is going to buy a milk company in London, these people who make milk, then it came to my mind that they have got tea as well, they have sugar as well.
The milk is done, they are yet to open the tea shop, I went and asked these people, in the last 10-15 days, in one and a half months, they sold all the shares they had and it became ₹7, so I took an example, I told you, you have to be with the management all the time, you cannot do it with your eyes closed, like what I told you about the plant, keep watering the plant, keep airing it, keep adding fertilizer, keep looking at the sunlight, keep talking to them, they also talk to your plant, so this plant, this is important here, okay, so this is the end exit which I understood and
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