I complete 40 years in the equity market. Makes me exactly as old as the Sensex, and so can connect the dots. However, I am not able to tell you what I learnt in every rise and every fall. I know my equity portfolio has come out a little better than the Index, but honestly I will not be able to give you proof of that. Too little money was actually invested till the year 2000. It looks small because of inflation, but you need to remember that in 1988 getting a Rs. 2500 per month retainer was good, and getting a Rs. 5000 annual fees for doing an audit was considered excellent. This post is about the STUPIDEST COMMENTS about equity markets, life insurance, personal finance that I have heard. I wish you add your comments to the following….

1. Equity is a zero sum game. When you make money, somebody else is losing it.
2. Equity is not for us Tamilians (Maharashtrians, Goans, Bengalis…) it is only for the Gujaratis and Marwaris
3. Don’t invest in equities – my father lost all his money during Harshad Mehta boom
4. You don’t need equities at all. I am 82 and never invested in equities.
5. You need only Rs 1-1.5 crores for retiring at 60. The average age at which Indians die is 70.
6. I am 69, I needed no life insurance. I think life insurance is a  waste of money.
7. Rs. 4 crores life insurance? Subra, frankly why does my wife need so much money?
8. Why insure myself? My wife will get so much money AND a new husband?
9. Let my children find out the value of money if I die young. I don’t need life insurance.
10. You must own a house. It gives tremendous security.
11. A car always sells at its cost price (true till 1980)
12. Real estate will always sell ABOVE cost price (not true unless holding is long)
13. I made money in ESOP
14. I lost money in ESOP
15. I do not take risk – I invest all my money in fixed income products
16. I take a lot of risk – I invest only in equities
17. I am a businessman – I do not take risk, all my money is in bank fixed deposit.

Go on add yours ….in the comments column….