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Time to Learn your Market Lesson Well



Time to Learn your Market Lesson Well
Indian investors have traditionally looked forward to Diwali to bring some cheer into the markets. This is because they believe that the market takes a turn for the better after the muhurat trading for the new samavat, the Gujarati new year which coincides with Diwali. After recent shocks from the market, many want to see the proverbial victory of 'good' over 'evil' that Diwali signifies. This may actually be the best time to go back to basics and position yourself for better times in the new year. Here are a few things that will bring home the desired wealth.
Conviction than trend
Information alone does not guarantee a smooth voyage to financial freedom. There are many who know that markets are trading at bargain levels. Yet, looking at the downtrend, many investors go for distress selling. In the markets, a trend is a friend for only those who can play markets in the short term. But it has been observed that big money is made by not following the herd. Individual investors are better off doing long-term investing, ignoring short-term noise. 'Opportunities for long-term investors to buy good, scalable businesses at throwaway valuations' was one of the key observations of Manish Chokhani, director, Enam Securities, in a recent presentation. When there is a lot of darkness surrounding you this Diwali, a lamp lit using the oil of conviction can light up the space you are living in. "At this moment, confidence is even more precious than gold or any currencies," Chinese premier Wen Jiabao said last month at a discussion on 'the next wave of growth.'

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