Hugh Prather

It is your right to be happy. This is what you were made for. And if you will not resist, happiness will find a way to pour from your heart and fill your days. ~Hugh Prather

The person that turns over the most rocks, finds the gems.

Ralph Seger

"An Investor without investment objectives is like a traveler without a destination". – Ralph Seger

Oliver Wendell Holmes

"One's mind,once stretched by a new idea never regains its original dimensions" - Oliver Wendell Holmes

Mike Ditka

"Success is about having, excellence is about being. Success is about having money and fame, but excellence is being the best you can be". - Mike Ditka

Todd Blackledge

The six W’s: Work will win when wishing won’t. - Todd Blackledge

Sparky Anderson

Success isn’t something that just happens- success is learned, success is practiced and than it is shared. - Sparky Anderson

Bud Wilkinson

"Every game is an opportunity to measure yourself against your own potential". - Bud Wilkinson

Napoleon

"Victory belongs to the most persevering". – Napoleon

"Personal Financial Planning is the conceptualisation and implementation of a comprehensive plan, for the achievement of a person’s total financial objectives".

Dr William J Bernstein

"Sticking by your asset allocation policy through thick and thin, is much more important than picking the ‘best’ allocation". - Dr William J Bernstein

Benjamin Graham

“A truly conservative investor will be satisfied with the gains shown on half his portfolio in a rising market, while in a severe decline, he may derive much solace from reflecting how much better off he is than many of his more venturesome friends”. - Benjamin Graham

Warren Buffett

"I realized technical analysis didn't work when I turned the charts upside down and didn't get a different answer." - Warren Buffett

Peter Lynch

"Charts are great for predicting the past." - Peter Lynch

John C Bogle

“Technical analysis is the art of drawing a crooked line, from an unproved assumption to a foregone conclusion!” - John C Bogle

Dr William J Bernstein

"In investing, success is less a matter of winning than avoiding losing". - Dr William J Bernstein

Dr William J Bernstein

"Probably the most relevant definition of risk is the likelihood of running out of money". - Dr William J Bernstein

Dr William J Bernstein

"Your broker is not your buddy. Neither is your mutual fund". - Dr William J Bernstein

Burton Malkiel

“We must undertake investment strategies that maintain our real purchasing power; otherwise, we are doomed to an ever-decreasing standard of living.” - Burton Malkiel

Peter Lynch

"The key to making money in stocks, is not to get scared out of them". - Peter Lynch

John C Bogle

"Never think you know more than the market. Nobody does". - John C Bogle

John C Bogle

"The surest route to top-quartile returns is bottom-quartile expenses". - John C Bogle

Peter Lynch

"In many ways, the key organ for investing is the stomach, not the brain. What is your stomach going to do, when an investment your brain selected, declines for a year or two?" - Peter Lynch

Francois de la Rochefoucauld

"Before desiring something passionately, one should inquire into the happiness of the man who possesses it". – Francois de la Rochefoucauld

Benjamin Franklin

"Beware of small expenses. A small leak will sink a great ship". - Benjamin Franklin

Burton G Malkiel

"The rules for achieving financial security through savings and investment, are extraordinarily simple". - Burton G Malkiel

Burton G Malkiel

"By keeping your savings and investment strategy as simple as possible, you will free up the time to do the really important things you want to do in your life, such as spending more time with friends and family". - Burton G Malkiel

Charles D Ellis

“It must be apparent to intelligent investors that if anyone possessed the ability to forecast stock prices consistently and accurately, he would become a billionaire so quickly, that he would not find it necessary to sell his stock market guesses to the general public.” - Charles D Ellis

Sir John Templeton

"An investor who has all the answers, doesn’t even understand all the questions". - Sir John Templeton

Jason Zweig

"The intelligent investor realizes that stocks become more risky, not less, as their prices rise, and less risky, not more, as their prices fall". - Jason Zweig

Anthony M Gallea

It’s the only one we know of, where the more expensive the products get, the more customers want to buy them. - Anthony M Gallea

“If you work on an investment, It will work for you.”

Alan Lakein

“Planning is bringing the future into the present, so that you can do something about it now.” – Alan Lakein (Expert on personal time management)

Jeremy Siegel

“Stupidity, well packaged, can sound like wisdom.” - Jeremy Siegel

Burton Malkiel

“We must undertake investment strategies that maintain our real purchasing power, otherwise, we are doomed to an ever-decreasing standard of living.” - Burton Malkiel

Jason Zweig

People who invest, make money for themselves. People who speculate, make money for their brokers. - Jason Zweig

Jason Zweig

Some of your trades might make money, most of your trades will lose money, but your broker will always make money. - Jason Zweig

Jason Zweig

Day trading – holding stocks for a few hours at a time – is one of the best weapons ever invented for committing financial suicide. - Jason Zweig

Benjamin Graham

“We have seen much more money made and kept by ‘ordinary people’ who were temperamentally well suited for the investment process than by those who lacked this quality, even though they had an extensive knowledge of finance, accounting and stock market lore.” - Benjamin Graham, ‘The Intelligent Investor’

Friedrich Nietzsche

“In individuals, insanity is rare. But in groups, parties, nations and epochs, it is the rule.” - Friedrich Nietzsche

Warren E Buffett

“Nothing sedates rationality like large doses of effortless money.”- Warren E Buffett

Old Wall Street proverb: “No price is too high for a bull or too low for a bear.”

“Stocks are bought on expectations – not on facts.”

John Maynard Keynes

“The market can stay irrational longer than you can stay solvent.” - John Maynard Keynes

Stock Market Analysis

l In the short run, the stock market cannot be analysed.

l In the long run, it need not be analysed!

Larry Swedroe

“There is nothing new in the markets, only the history you haven’t read.”
- Larry Swedroe (US investment advisor)

Benjamin Graham

No statement is more true and better applicable to Wall Street than the famous warning of Santayana: “Those who do not remember the past, are condemned to repeat it.” - Benjamin Graham

Warren Buffett

“Derivatives are financial weapons of mass destruction” - Warren Buffett

Nani A Palkhivala

We are not poor by nature but poor by policy. You would not be far wrong if you called India the world’s leading expert in the art of perpetuating poverty. - Nani A Palkhivala

A brief insight into Indian taxation

A brief insight into Indian taxation
If you drive a car,
I’ll tax the street;
If you try to sit,
I’ll tax the seat.
If you get too cold,
I’ll tax the heat;
If you love to walk,
I’ll tax your feet!
- Nani A Palkhivala

Benjamin Graham

“No matter how careful you are, the one risk no investor can ever eliminate is the risk of being wrong.” - Benjamin Graham

“The future value of every investment is a function of its present price. The higher the price you pay, the lower your return will be.”

Benjamin Graham

“A stock is not just a ticker symbol or an electronic blip; it is an ownership interest in an actual business, with an underlying value that does not depend on its share price.” - Benjamin Graham

Benjamin Graham

Wall Street people learn nothing, and forget everything. - Benjamin Graham

Benjamin Graham

Wall Street people learn nothing, and forget everything. - Benjamin Graham

Aldous Huxley

Facts do not cease to exist, just because they are ignored - Aldous Huxley

There are old pilots. And there are bold pilots. But there are no old, bold pilots!

Warren Buffett

Risk comes from not knowing what you are doing - Warren Buffett

Fish see the bait, but not the hook; men see the profit, but not the peril.

Warren E Buffett

The stock market is a mechanism by which money is transferred from the impatient to the patient. - Warren E Buffett

Sir John Templeton

History shows that time, not timing, is the key to investment success - Sir John Templeton

Warren Buffett

If you are not willing to own a share for ten years, then don’t own it for ten minutes
- Warren Buffett

Warren Buffett

Much success can be attributed to inactivity. Most investors cannot resist the temptation to constantly buy and sell - Warren Buffett

Warren Buffett

To invest successfully over a lifetime does not require a stratospheric IQ, unusual business insights, or inside information. What’s needed is a sound intellectual framework for making decisions and the ability to keep emotions from corroding that framework - Warren Buffett

Rakesh Jhunjhunwala

Be greedy, but be long-term greedy - Rakesh Jhunjhunwala

Rakesh Jhunjhunwala

Be greedy, but be long-term greedy - Rakesh Jhunjhunwala

J P Morgan

“Markets reward investors and punish traders.”
“Bear markets are when stocks are restored to their rightful owners.”
- J P Morgan

Frank M Hubbard

The safest way to double your money is to fold it over once, and put it in your pocket - Frank M Hubbard

Alan Lakein

Planning is bringing the future into the present, so that you can do something about it now – Alan Lakein

Warren Buffett

Someone’s sitting in the shade today, because someone planted a tree many years ago - Warren Buffett

Sir John Templeton

The only investors who shouldn’t diversify, are those who are right 100% of the time - Sir John Templeton

Warren Buffett

Investors should remember that excitement and expenses are their enemies - Warren Buffett

William Shakespeare

Neither a borrower, nor a lender be - William Shakespeare

Burton G Malkiel

We must undertake investment strategies that maintain our real purchasing power; otherwise, we are doomed to an ever-decreasing standard of living - Burton G Malkiel

WHAT THEY SAID

Investing is simple, but not easy - Warren Buffett

WHAT THEY SAID

There are those who dream and wish and there are those who dream and work – Jenue R Mclntyre

WHAT THEY SAID

There are worse things in life than death. Have you ever spent an evening with an insurance salesman? – Woody Allen.

Stock Market Reality

WHAT THEY SAID

You are neither right nor wrong because the crowd disagrees with you. You are right because your data and reasoning are right – Warren Buffett

Trust & Money

Do not put your trust in money, put your money in trust.

WHAT THEY SAID

Invest your time before you invest your money – Warren Buffett

WHAT THEY SAID

Always invest for the long term – Warren Buffett

WHAT THEY SAID

Sooner or later, all bull markets must end badly - Benjamin Graham

WHAT THEY SAID

The cheapest commodity in the world is investment advice from people not qualified to give it – Louis Engel.

WHAT THEY SAID

The stock market is a device for transferring money from the impatient to the patient - Warren Buffett

WHAT THEY SAID

Buy stocks like you buy groceries, not like you buy perfume - Benjamin Graham

WHAT THEY SAID

If you aren’t willing to own a share for ten years, then don’t own it for ten minutes - Warren Buffett

WHAT THEY SAID

How much a stock cost shouldn’t affect your decision to sell it. Yet people hang onto their losing stocks mostly because they don’t want to feel the pain of admitting that they were wrong - Daniel Kahneman

PROVERB

Fish see the bait, but not the hook; men see the profit, but not the peril - Chinese Proverb

WHAT THEY SAID

Wall Street never changes. The pockets change, the suckers change, the stocks change, but Wall Street never changes because human nature never changes - Jesse Livermore

WHAT THEY SAID

If history were all there was to the game, the richest people would be librarians - Warren Buffett

WHAT THEY SAID

I don’t know anyone who’s ever got market timing right. In fact, I don’t know anyone who knows anyone who’s ever got it right - John Bogle

WHAT THEY SAID

Invest – don’t trade or speculate. The stock market is not a casino, but if you move in and out of stocks every time they move a point or two, the market will be your casino. And, like most gamblers, you may lose eventually – or frequently - Sir John Templeton

WHAT THEY SAID

Investing is a strange business. It’s the only one we know of where the more expensive the products get, the more customers want to buy them - Anthony M Gallea

WHAT THEY SAID

The stock market will continue to be essentially what it always was in the past – a place where a big bull market is inevitably followed by a big bear market. In other words, a place where today’s free lunches are paid for, doubly tomorrow - Benjamin Graham

WHAT THEY SAID

The investor’s chief problem – and even his worst enemy – is likely to be himself - Benjamin Graham

WHAT THEY SAID

Any investment strategy that fails to recognize the effect of taxes and inflation fails to recognize the true nature of the investment environment and thus is severely handicapped. It is vital that you protect purchasing power - Sir John Templeton

WHAT THEY SAID

The most dangerous words used in the stock market are ‘This time it’s different’ - Sir john Templeton

WHAT THEY SAID

History never repeats itself exactly, but you owe it to yourself to be acquainted with the bear markets of yesteryear. At least if history does then repeat itself you can’t say that you weren’t warned. - Edmond Warner

WHAT THEY SAID

Unless you can watch your stock holding decline by 50% without becoming panic-stricken, you should not be in the stock market. - Warren Buffett

WHAT THEY SAID

It’s human nature to find patterns where there are none and to find skill where luck is a more likely explanation. - William Bernstein

WHAT THEY SAID

The first rule of investment is, don’t lose. And the second rule is don’t forget the first rule. And that’s all the rules there are. - Warren Buffett

WHAT THEY SAID

The first rule of investment is, don’t lose. And the second rule is don’t forget the first rule. And that’s all the rules there are. - Warren Buffett

WHAT THEY SAID

A broker is a man who will invest your money until it is all gone. - Woody Allen

NCFM AMFI - Mutual Fund (Advisors) Module - Training

Training on AMFI - Mutual Fund (Advisors) Module is scheduled on 4, 5, 11 & 12 April 2009 (2.30noon to 6.30pm). Reserve your seats by paying the fees (Rs.2,000) before 31.03.2009. Contact 9379215250.

WHAT THEY SAID

Speculation is an effort, probably unsuccessful, to turn a little money into a lot. Investment is an effort, which should be successful, to prevent a lot of money from becoming a little. - Fred Schwed Jr

NCFM Capital Market (Dealers) Module - Training

Training on NCFM Capital Market (Dealers) Module is scheduled on 4, 5, 11 & 12 April 2009 (10.00am to 2.00noon). Reserve your seats by paying the fees (Rs.2,000) before 31.03.2009. Contact 9379215250.

WHAT THEY SAID

Bull markets are born on pessimism, grow on skepticism, peak on optimism and die on euphoria.- Sir John Templeton

Investing in Challenging Times

WHAT THEY SAID

October. This is one of the peculiarly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August and February. - Mark Twain

WHAT THEY SAID

If there’re 10,000 people looking at the stocks and trying to pick winners, one in 10,000 is going to score, and that’s all that’s going on. - Merton Miller

WHAT THEY SAID

I never ask if the market is going to go up or down next month, I know that there is nobody that can tell me that. - Sir John Templeton

WHAT THEY SAID

I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years. - Warren Buffett

WHAT THEY SAID

It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price. - Warren Buffett

WHAT THEY SAID

If I have noticed anything over these 60 years on Wall Street, it is that people do not succeed in forecasting what’s going to happen to the stock market. - Benjamin Graham

NCFM FINANCIAL MARKET BEGINNERS MODULE - TRAINING

Training on NCFM Financial Market Beginners Module is scheduled on 21, 22, 28 and 29 March 2009 (2.30 to 6.30). Reserve your seats by paying the fees (Rs.1,500) before 17.03.2009. Contact 9379215250

WHAT THEY SAID

Buy when most people including experts are overly pessimistic, and sell when they are actively optimistic. - Sir John Templeton

WHAT THEY SAID

To achieve satisfactory results is easier than most people realize; to achieve superior results is harder than it looks. - Benjamin Graham

WHAT THEY SAID

When asked what he considered man’s greatest discovery, Albert Einstein replied without hesitation: Compound interest.

WHAT THEY SAID

If a business does well, the stock eventually follows. - Warren Buffett

WHAT THEY SAID

Risk comes from not knowing what you’re doing. - Warren Buffett

WHAT THEY SAID

The idea that any single individual without extra information or extra market power can beat the market is extraordinarily unlikely. Yet the market is full of people who think they can do it. - Daniel Kahneman

WHAT THEY SAID

In the short run, the market is a voting machine – reflecting a voter registration that requires only money, not intelligence or emotional stability – but in the long run, the market is a weighing machine. - Benjamin Graham

WHAT THEY SAID

Facts do not cease to exist because they are ignored. - Aldous Huxley

WHAT THEY SAID

Those entrapped by the herd instinct are drowned in the deluges of history. But there are always the few who observe, reason, and take precautions, and thus escape the flood. - Anthony C. Sutton

WHAT THEY SAID

Price is what you pay. Value is what you get. - Warren Buffett

WHAT THEY SAID

Great investment opportunities come around when excellent companies are surrounded by unusual circumstances that cause the stock to be misappraised. - Warren Buffett

WHAT THEY SAID

We’ve long felt that the only value of stock forecasters is to make fortune tellers look good. - Warren Buffett

WHAT THEY SAID

There seems to be some perverse human characteristic that likes to make easy things difficult - Warren Buffet

WHAT THEY SAID

Save a little money each month and at the end of the year you will be surprised at how little you have. - Ernest Haskins

WHAT THEY SAID

Greed and herd instinct are powerful, until overtaken by fear. But fear (survival) is a two and a half to three times more powerful emotion than greed. - R E McMaster

WHAT THEY SAID

There are two times in a man’s life when he should not speculate: when he can’t afford to, and when he can - Mark Twain

WHAT THEY SAID

Money can beget money, and its offspring can beget more, and so on.- Benjamin Franklin

WHAT THEY SAID

"IT TAKES PATIENCE, DISCIPLINE & COURAGE TO FOLLOW THE CONTRARIAN ROUTE TO INVESTMENT SUCCESS : TO BUY WHEN OTHERS ARE DESPONDENTLY SELLING, TO SELL WHEN OTHERS ARE AVIDLY BUYING". - SIR JOHN TEMPLETON

An Educated Investor is a Successful Investor

"The domestic and work related responsibilities of most investors do not permit them to go deep into the intricacies of investment, insurance, finance, real estate and taxation. Common investors require investment advice that is simple, effective, easily understood and easily remembered. Few sectors are witnessing such explosive growth as the financial services sector. There is a crying need for properly trained financial advisors in India today.

Unfortunately, there is a tremendous dearth of such advisors. Most so called advisors are nothing but agents who in collusion with the corporations they represent or work for, generate and use a lot of hype to aggressively sell financial products and services to gullible investors and customers, whether or not such products and services are advisable for them. As a result, experiences of the common investors in investment, insurance, real estate etc., have been far from pleasant. The disaster stories of how investors have lost tons of money in imprudent financial adventures are too numerous and well known to be recounted here.

With a view to have better informed and better equipped investors, we have established infrastructure to train and assist investors to adopt proper investment and financial planning."