Life and investment lessons from chess

economictimes.indiatimes.com:

Chess,the ultimate game of strategy and the game of royalty, is one of the most popular games in the world. According to the United Nations, 70% of the adult population in the US, the UK, Germany, Russia, and India has played chess at some point in their lives and about 605 million people play chess regularly. The game is so complex that on one hand, it is said mathematically there are more possible moves of chess than atoms in the observable universe and on the other, it is still possible to checkmate your opponent in just two moves.

With its origins dating back nearly 1500 years, chess is the only board game that stood the test of time. It is believed by many that Chess originated in India. It was known as ‘Chaturang’, named after the four parts of an army namely the elephants, chariots, horsemen and foot soldiers.

While Chess began as a battle simulation game, it may not be wrong to say that the game teaches a lot about life and investments. Let’s see how… The Game starts long before the first match. Chess is a game of strategy.

Even before the first move is played, chess aficionados prepare their game plan and strategize. Similarly, before one starts putting their money to work, it is important to be aware of our financial goals and investment horizon, which would then define our investment strategy. Players, when stuck, often take help from coaches to fine tune their game plan.

Similarly, when in doubt investors can gain from the expertise of financial advisors who can help them fine tune their financial plan. Each piece is unique and has a specific role to play. There are six types of pieces in chess, 16 pieces in all, eight pawns, two bishops (camel), two knights (horse), two rooks (elephant), one queen and one