Mirror Mirror on the wall, who is the best of em All.
Somebody asked me the other day, who is your favorite investor in INDIA and it got me thinking. My favorite, hmm….
Invariably whenever you are selecting your favorite investor, success becomes a criterion although it should not, or should it??
It should not because you should judge on process and not on result and It should because how else would you know that process is correct in absence of success.
Viscous cycle huh!!. You would not pay 2 hoots to Benjamin graham and his value if it didn’t work.
But what if it is all fluke and just a role of dice.
To which you say, luck can work once or twice, but in a long run, your skills will come to the fore and role of luck will diminish considerably.
But what about LUCK in initial years and from there on the usual compounding pulling you through.
There is another point to keep in mind!!.
“Crony capitalism”, was it just luck, or was there more to what appears to the eye.
When i look at some of successful investors of the day, I feel their modus-operandi is to.
Earn a lot of money by hook or crook or whatever means, once you have reached a level, go hire a PR firm and buy a Shawl named “Value Investing”. All your previous sins would be wiped off and you would be seen in new white light.
Winners write their own history. It is not just stock market, it is true in every aspect of life. USA is the worst bully of all times, all this talk of world peace is a charade, ask a simple question, who is manufacturing and selling these weapons used by terrorists and you’ll get the answer. Leave alone that, how many of you know that Nelson Mandela was in jail for all those years because US of A wanted it that way (Mandela and his allies were not democratic enuf apparently)
Some of big mutual funds were nothing more than manipulative Punters of the past. The big 4 in US have reached that status where Heads they make a ton of money, tails they say sorry and tax payer bails them.
Difference between a crook and a successful crony capitalist is that the latter has become too big. He has successfully legalized and institutionalized his shit.
I mean people like Vijay mallaya and Harshad Mehta become the escape goats. I am not saying they are good people by any stretch, what I am saying is that they somehow could not cross that threshold.
Because once you cross that threshold, you get to write your autobiography, your own narrative. You can then make a Sachin tendulkar like documentary on yourself, flawless, dedicated human being, and God incarnation in form of a human.
Please note, this being a free flowing write-up, i am writing what is coming up in my mind. Please do not draw stupid connotations like, ‘how can you give sachin’s example while talking about crony and frauds’.
Get the message and the drift, not the literal.
Winner takes all man, winner takes all. As i see it, Sita committed suicide because she was pissed off with her husband and we still worship Ram because he was presiding over those paid historians.
Have a look at our NCERT syllabus and you would know what I am referring to. We brainwash our kids into believing that non-violence baloney led to our independence and the actual freedom fighters find no mention.
So i don’t know who is a great investor, for once forget the crony angle. Think how much of their success is attributed to actual skill Vs being at the right place at the right time. The sheer power of knowing and hanging out with the right set of people. The networking effect.
Don’t say that they created that network by their skill, this sense of doership is insane.
I am starting to feel the role of luck at such a degree and level that i strongly believe, there is no free will. NONE.
Listen to Sam Harris talk on the same subject below.. if not anything you would get a glimpse of a different point of view.