Retail Investor announces Retirement from Stock Markets

My broker friend Jigneshbhai had asked me and Swami to come over to an investor camp last Sunday for our evening coffee. At that event, a retail investor took center stage.

retirement-clipart.jpgInspired by Sachin Tendulkar’s heart-touching farewell speech, the retail investor made an emotional speech thanking everyone for his experiences in trying to get rich by investing, before finally announcing his retirement from the stock markets.

“All my dear friends, settle down, let me talk. I will get emotional if you keep reminding me of my losses in the stock market.”

“It is hard to believe that my investing life in the equity markets, to which I hung on for the past 20 years is coming to an end. I would like to take this opportunity to thank the people who have been with me as part of this journey.”

“Firstly, my father. Even though he came from a non-Gujarati middle class background, he allowed me to chase my dreams of investing in the stock markets. All he told me is don’t take short (or long!) cuts. When no bank was willing to give me money to invest, he was the one who lent me money to put in the markets. When I faced losses, he even went to the extent of writing them off. At a young age, I got used to the experience of losing money in the markets which stood me in good stead throughout my investing career. Without him, I would have been even worse off.”

“My mother – I don’t know how she dealt with a child like me. She kept telling me don’t go near the stock markets, buy gold, keep money in the bank, but I did not listen. While I was busy losing money, she kept on praying for me, and her blessings have been the reason that at least for some time I made some profit. I want to thank my mother for all her prayers.”

“My brother – what do I say about him? We have lived this dream (nightmare?) together. He and I started investing at a young age and lost a lot of money together. Eventually he sacrificed his career as an investor, and decided to become a financial analyst himself and salvage some of the losses by getting a hefty salary. This is our journey together. It all started many years ago when he took me to my broker, and since that day, my life changed.”

“You will find it difficult to believe that even last week, though my career was almost over, we were discussing newer methods of technical analysis to beat the market. We had our agreements and disagreements on investing techniques, but when I look back at them now, I feel that without that, I would have been a better investor.”

“The most beautiful thing happened to me 15 years back when I met my wife. Those were beautiful years, and now I think, without her constant motivation on why we need more money, I would not have ventured into those get-rich-quick schemes in the stock market. Thanks for staying with me through the profits and the losses. And thanks for forcing me to buy the gold and the house. That’s the best partnership (with the best returns!) I have had.”

“The turning point of my life was when my brother took me to my financial adviser. Normally my adviser sits in front of the television and keeps watching the markets. His advice keeps changing as per changes in the markets. But over all these years, he has never said ‘well done’ to me. Honestly that is because I have not done well in the markets. Now he can say so, because from here on, my money is going only in fixed deposits and gold. I would like to thank him – you have made an immense contribution to my bottom-line, or the lack of it. Some day, you will thank me for my contribution to your bottom line as well.”

“My investing journey started here next door at Dalal Street in Mumbai when there was no demat, no online trading, no 24 hour TV channels. The dream was to make it big, and that’s when my association with various IPOs, fund managers and advisers started. I want to thank all of them to have given me the opportunity to participate in the India story.”

“There have been a lot of friends, brokers and advisers who I met in this journey. There have been difficult moments like during the dot-com crash or the global financial meltdown when I had sleepless nights and felt that my career as an investor was over. But these people came at the right time, sometimes at odd hours, and always sold me new things to put my money in, and helped restore my faith. I want to thank all of them.”

“In the early days, when the markets used to do well, the media used to back it and get excited every time it reached a new high. That definitely had a positive effect and encouraged simple retail investors like me. Thanks also to all the photographers who provided wonderful bull pictures during market highs and bear or bloodshed photos during crashes. Those moments will stay with me for the rest of my life.”

“Finally, I want to thank all those foreign institutional investors who have flown from all over the world to invest with me in the Indian markets. I know my speech is getting a bit long. (crowd cries) You have supported the market for a long time. I used to invest with you in the equity markets through highs and lows, but going forward, I wish you all the best as you are really going to be the only ones investing here.” (crowd cries more)

“Time has flown rather quickly but the memories of my small profits and big losses will be with me forever – specially the constant chants of ‘Scam, Scam’  – which will reverberate in my ears till I stop breathing. Thank you very much. I am retiring from the stock markets. If I have missed out on anything, I hope you understand. Goodbye.”

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