INSUBCONTINENT EXCLUSIVE:
bad either, so says Harold Pinter.
That sums up the craze and love for cricket among Indians.
In cricket-obsessed India, anybody and
everybody seems to have a take on the favourite pastime
And the fever peaks when IPL comes into play
Like its previous avatars, the ongoing 11th edition of IPL (Indian Premier League) has its own share of madness, adventure and excitement
-- even some success lessons
And it will be hard to miss the striking similarities between cricket and the stock market
You would do well to judiciously use those strategies to make a killing on Dalal Street.
On a lazy
Saturday, as you get ready for two
high-profile battles -- Kings XI Punjab versus Kolkata Knight Riders, and Delhi Daredevils vs Royal Challengers Bangalore -- we bring you
some useful investment tips, straight from the pitch
Do your homeworkBrokerage Angel Broking in its blog explains what a good captain typically does
He studies the ground and the pitch, judges whether it's a quick wicket or a flat wicket and accordingly, decides whether to bat or bowl
Even the team composition of batsmen and bowlers is decided based on the nature of the wicket
This apart, he also takes into account the weather conditions what happens if dark clouds start hovering The captain quickly calculates
what he needs to do to win under the Duckworth Lewis method and paces the innings accordingly.
As a stock market investor, your focus should
be on understanding the stock, the market structure and the external factors
Like a smart IPL captain, you can succeed in the market only if you master these.
Keep moving and wait for the right opportunitiesRemember
the famous quote by Martin Luther King Junior That is, if you can't fly then run, if you can't run then walk, if you can't walk then crawl,
but whatever you do you have to keep moving forward
Of course, quotes like these have come as elixir for those who lack any enthusiasm or aim in life
The same principle holds for stock market investments, too
As you have seen in many instances, in a crucial situation, the match winner doesn't go for big shots
Rather, he focuses on rotating the strike by taking one or two runs, without throwing wickets away
That is what investors need to do
Keep working on your investment plan and strike hard when the opportunities knock at your door.
Take a break
Sometimes, you need to switch off!Yes, we understand that it's your hard-earned money and you have every reason to lose sleep over it
But, trust us, overdoing things does no good
As Mark Manson explains in its popular self-help guide book, The Subtle Art of Not Giving a F*ck, do not try
Manson made a very crucial point when he says, sometimes when you care less about something, you do better at it
The crux of the point is don't overthink about your investments
Take a break and then re-strategise like the IPL players take strategic timeouts to relax, de-stress and discuss new strategies about how to
move forward.
Take calculated risksA good IPL captain takes calculated risks from time to time
Opening your attack with a spinner, letting your best bowler complete his spell early, using a pinch hitter on top are all strategies that
IPL captains use quite effectively
Calculated risks have two advantages
First, it tends to confuse the Opposition and second, it helps throw in that surprise element
That is what you need to do as investors too
A straightforward indexing approach cannot make you a successful investor
When you can afford to take a risk, you must take calculated risks
That is the only way to succeed in the market, the blog explains.
Your portfolio should have a right mixJust like an IPL team comprises a
blend of good hitters, matured players, fast bowlers, spinners as well as all-rounders, your portfolio should also have a mix of right
assets such as debt funds, equity funds, individual stocks and the like
According to experts, you should not put all your eggs in one basket, but diversify your portfolio
game; attitude mattersStock market is not for those who play safe all the time
Sometimes, you need to believe in your intuition, your gut feeling and just go for it
This shows your mental strength, risk-taking ability and how much you believe in yourself
Remember, the 2007 T20 World Cup final match against Pakistan when M S Dhoni surprised everyone by asking Joginder Sharma to bowl the last
That is what investing in stock markets is all about
Build your mental strength, keep your attitude intact and you are likely to win in the long haul!
