I’m glad you cared enough to find out about the guy who rants endlessly on SmartMoneyGoal.in and thinks he is doing something useful to fellow Indians.
I’m Parani Dharan a.k.a Parsha. Just a regular guy like YOU minus the bright mind. With that we aim to spread awareness on financial literacy by giving unbiased information to our readers on their personal finance based on my experience and common sense. You can reach me at ‘[email protected]‘ or ‘[email protected]‘
Some more info about me (if still interested):
I have a growth defect which I’m trying to cope with. My wife says I am less susceptible to emotions and mood swings. She says “sometimes you’re too much”. I think the first thought is true. Be my pal and judge/decide yourself on the second idea.
May be it is these qualities that makes me good when it comes to finances. After all, Warren Buffett says “Investing success is more about EQ than about IQ“.
I’m a hardcore finance buff and self-proclaimed finance expert. I just have a few HNIs who trust their money/portfolio with me to manage it (Fulfills my passion is an added bonus).
I just have one motto when it comes to finance: “Never knowingly cheat and lose the trust placed in you by another man for your own personal gain“. And so, I try to be as blunt as possible when dealing with finances of friends and clients. I would rather be called a jerk or ass than a crook. Follow my thoughts on Facebook. Click below
More About Me…
I had my first taste of self-earned money at age 15 when I ran a second hand mobile business. Just buy cheap and sell for a profit was the business plan. The lessons from this helped me when I started dealing in stocks when I was 16. I burnt my fingers and made some profits as well(due to some logical thinking, reading good books and pure dumb luck). That was my first innings with investing.
I then became the leading insurance agent and MDRT /Chairman club member of a private insurer and mutual fund house during my initial undergraduate years to support my family. The commissions were coming in and I had no reason to complain.
I thought I was really good at selling not knowing that I was giving half baked, evidence-less information to my clients putting their money at risk. I sold too many products working part-time that I was called “a budding young star” in my office. We were always trained to highlight the positives and side-tracked the negative disclosures. I was partially an IGNORAMUS on how finance industry operated then!
As the markets would have it, came the slow crash of Jan-Mar 2008 and my clients were starting to lose money slowly. One of my clients said “I invested based on your word. But my portfolio of Rs. 2 lakh is down 40% in 3 months”. I REALLY FELT BAD.
On the same month(March 2008), my insurer (ULIPs were a craze back then) and fund house had meeting after meeting and were pushing new products. I thought “Why are these guys selling new products instead of delivering on already existing products. Why launch new versions of same products?” . SOMETHING WAS WRONG!
When I directed the question from my client to my Sales and Branch manager, there was also no logic based reply. “All these happen and are temporary. Why are you talking to them about that old product? Ask them to buy the new product or stop answering their calls and search a new client” was the reply. SOMETHING WAS DEFINITELY WRONG!
I always had a habit of reading voraciously from age 14 and finance was something which I loved to read. I had read every investing book I could lay my hand on during 2006-07. I still continue to read and this is the ONE thing I attribute some success to.(P.S: I’ve a deep regret that my reading time has comparatively shrunk nowadays due to other work )
From this knowledge I understood that most of the members of WALL STREET (read insurers, mutual funds, Dalal Street) make money based on assets they manage(AUM) and not performance they achieve. The more money you manage the more commission you get.
These guys relied on technicalities and not the spirit. Their motto was “Do you have a losing product or policy? Close it and start a new fund or policy.” People have a scant memory and India is so big a country that there is always a new fish to fry.
After that meeting with my sales manager, I personally realized there was no meaning or weight to one’s WORD here. This was a direct conflict to my personal character. I HAVE HAD ENOUGH!
I still remember how I tried to call each and every one of my client. Some attended and some did not. I told them “Sir, Sell what you have. It’s not good anymore”. I din’t tell them any logic/reason why I said so.(I now wish I had done that). Some listened and some did not. Some sold at a loss and some scolded decently but decided to sit tight .Some others who were in profit sold out.
It was pure coincidence that the market started to fall even further from May 2008. The fall lasted for 9 months. The most hit were those who purchased the ULIPs. I HAVE NEVER SOLD AN INSURANCE POLICY/MUTUAL FUND SINCE THAT INCIDENT ON MARCH 2008.
Some individuals who listened to me thanked me. (P.S: It also included some HNIs who are my clients even now). Again it was some luck and logic thinking.
LESSON FOR YOU: No one is more interested in your financial well being than yourself. It is your duty to learn and enhance YOUR knowledge to protect YOUR hard earned money from mindless ignoramus and hungry predators lurking in the financial jungle .
Phew! So much words(835 to be exact ) to just drive home this one simple thought. I have learnt from my mistakes over the last 12 years and started SmartMoneyGoal.in to just accomplish this purpose. To share my experiences on finance and help you enhance your knowledge about personal finance that matters to you.
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