Can financial crisis turn you into a better investor? Important money lessons that investors can learn from setbacks
Almost everybody has faced some financial crisis in life. Some of these crises may have been caused by external events, so the individual can’t be held responsible. Others are quite clearly self goals in one’s investment journey. The point is, did your financial crisis turn you into a better investor? Have you ensured that your finances never face such a crisis again? Wise men say that even if you lose, don’t lose the lesson.
ET Wealth reached out to industry experts and financial advisers to know what they learnt from the financial upheavals in their lives. The experts everyone looks up to for their financial wisdom and prudent planning have also grappled with the same mistakes that many of us make. They have also faced the same uncertainties, the same doubts and, yes, the same losses.
Well-known stock investor Vijay Kedia racked up such huge losses in futures and options trading that his mother was about to sell her jewellery. Financial educator Mrin Agarwal lost 90% of her capital when she invested in penny stocks on the recommendation of stock manipulators masquerading as analysts. Turtlemint Co-founder and CEO Dhirendra Mahyavanshi’s family almost sold their house to repay debts due to a hospitalisation. TaxSpanner CEO Sudhir Kaushik was under pressure to shut down the company after a new product flopped in the market. ANAROCK Group Chairman Anuj Puri’s family was duped by a real estate developer and suffered huge losses.
What makes the stories of these individuals special is the manner in which they
