A good wealth manager…
About 6 months back I had a long list of shares to buy…rather discuss with my broker..let me share some of them..
1. I thought Reliance was a great buy at Rs. 1150…he said hold on, do not be in a hurry. Today it is sub 800.
2. I thought Tata Motors at 1000 was good – so I wanted to buy DVR at 900. He held my hand. He said you can replace TM with Dvr…I said with such a small quantity of TM..i did not wish to play games….
3. I thought 2-3 weeks ago Sterling Resorts was a good buy at Rs. 120…he said NO.
I could just go on and on
He said ‘is your cash in the liquid account and savings account BITING you? Just chill.
India Cement, Punj Lloyd – I wanted to punt…well u guessed it right, he said wait for prices to go really down..I remember when I said India Cement the price was Rs. 110…now it is Rs. 65. I wanted to buy GMR at 64…he said 32…
VOW!!
So sometimes (many times) stopping is a greater help than finding ‘what to buy’.
Only share I bought INSPITE OF HIM SAYING NO …was DVR at 590…I told him will sell Tata Motors only in an upturn – he said SELL TATA MOTORS AND REPLACE WITH TATA MOTORS DVR…DID not listen…stupid me!!
I still have a list….now he is at least willing to talk to me….he said ‘next week let us re look….at your list’…
really I am asking myself…’is my cash biting me?’….the answer is NO….L O L
Ravikumar
May I kindly request you to suggest & share a good Broker details for managing my Portfolio of Stocks/Mutual Funds. I am glad to have a win-win relationship with him.
subra
good? why Icici direct, Hdfc securities, Kotak securities…there is a whole list of brokers just pick one.
If you are asking for a broker who will talk to you, remember your portfolio, advise you…I think that breed died in 2000.
Abhisek
Can you share your broker’s details. I would love to talk to him.
M S PANJWANI
Your broker did not do anything amazing, its all about trend and cycle, even a school going boy will tell u that Reliance is in the down trend since long, TM follows a cycle, in increasing interest rate regime all rate sensitive comes down and vice versa.
Needless to mention that in falling market “hold-no buys” will always work and in bull market “buy buy buy” will work.
Certainly i would not pay my broker or WM for such heavenly advice(or advise-ur english blog was good or nice)…LOL.
subra
M S obviously I am not half or quarter as smart as you are, so I need a broker, and am happy with him.
In case I need a school boy, I will ask you to find me one, thanks.
subra
I have no clue about your net-worth, my broker’s family networth should be close to 5 figures in crores. Frankly if you find a schoolboy with that kind of N W, I would be happy to meet him also.
Ravikumar
Hi Subra,
I am asking for good Broker details who do Portfolio Management Services and willing to pay him for his services provided it is a win-win situation for both of us.
subra
no Ravi I do not know nor do I recommend, but looks like M S Panjwani may have somebody to recommend…caveat emptor of course.
MSG
I was amused at M S P’s comment about your broker..also on his comment on your English usage post. I thought you would take off on his ‘vice-versa’ usage. Not sure whether he uses the word reverse. Actually because of the vice-versa I have not been able to understand his comment. Amused.
I am also sure your broker will be HONOURED if he could meet MSP…LOL,
subra
MS I have Mahindra Hol Resorts, so when the MD moved, it was logical to look at Sterling…RJ buying was icing on the cake. I do not follow RJ at all.
Not that he is good or bad..but I have more info, in fact far more info than what is publicly available.
I am a small guy with a good broker..that is all.
Suresh
For some one who has nothing in the stock market (not that its a good sign, just lack of savings/investment discipline I guess) its fascinating to see the passion of most investors/traders.
BTW nice article on the Express today, Subra.