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The Midas Touch

September 27, 2011

I have the Midas Touch. In reverse!

Twenty-five years ago, I watched with envy friends who were reaping handsome gains in mutual funds. Did not really matter, as I had no investible surpluses.
Twenty years ago, I started dabbling with tiny amounts that also helped me cut my tax rate.
Ten years ago, my investments showed a net return below 0.5 percent per annum.
So I got out of the market. Three or four years ago, I found mutual funds were giving returns even up to a hundred percent a year after I quit.
Then I again went in, with the Sensex @ 20K.
So it came down to 8K.
A few months back I decided metals would be good. Gold!
But I did not have a dematerialisation account, and too lazy to go and open one, I tarried.
Then I found gold had gone up 20% in four months. And along came a Fund of Funds that did not need a demat a/c.
You can predict. Gold came down 10% in a day after I went in!

I have the Midas Touch in reverse. Whatever I touch turns to ashes.

A blackmail offer to the likes of Warren Buffet: Do what I say, or I will buy into some of your portfolios…


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One Comment
  1. Induchoodan permalink

    You are in good company which includes me. I have found that any fool can make money in the market. The problem is in keeping it and not losing it. You pull out invariably when it is too late. Those big operators who control the market in the short run know how to lure the public into this quicksand even as they pull out their investments. Once you are in, greed takes over. In India, real estate is, any day, a much better option. It does not give you the jitters that a market investment gives when the index slides even by few hundred points. In the long run, you find that a small investment in a house has given you much more value than the entire retirement benefits given by the employer at the end of your service.

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