https://youtu.be/2JAqTtYViZ4 Transcript Darshan Doshi (00:08) Hi, welcome to DASAR. My name is Darshan and we have an awesome podcast with Devang Kabra today. We are going to talk about investing, about making money. Just a quick overview. Devang is someone who has turned from an entrepreneur to an investor. Through childhood, he's burnt a lot of his own money in trading, in investing, and then over the last two or three decades, he's gone on to learn and read and practice what he's been preaching by following and testing different ways of investing in order to make money. So in this podcast, we cover Futures and Options. What are Futures? What are Options? When does it make sense for a person to invest through these investment vehicles? We talk about the stock market. We talk about direct investing. We talk about mutual funds. How do you select out of the hundreds of various mutual funds out there? We talk about cryptocurrencies, and Devang, in his own style, in a very candid way, shares his own experience. And lastly, we talk about what are some of the key lessons and contradictions, and the myths that are there in the investment world. And so he tries to debunk a few of those myths for us. Take a look at this podcast. If you're interested, reach out to us. We will be happy to include your questions in the future podcast on personal finance, financial independence, and investing. Devang Kabra (01:52) To start off with, my first stock buy was way back in 1998 when I was in the 12th Standard and I bought a share called Sathavana Ispat for Rs12. I borrowed Rs 12,000 from my mum and I was sitting in the library in NM College in Bombay where I graduated from and there were a couple of people talking about Sathavana Ispat. So I went on the basis of that. I don't even know who told me, I don't even know what the discussions were. I mean, who was talking to whom? I just overheard. I went home, I told my mom, lend me Rs 12,000. My pocket money was Rs 500 per month that time. So I said lend me Rs 12,000. I will guarantee to return it with profit. So that was how I started from 1998-99 till today, I have done all kinds of things. So whatever I'm presenting you can be rest assured that I have done everything. Futures, Options, Leverage Trading, Commodities. So I have traded in the market, invested in the market when you could get a ten lakh rupee future lot for a 50,000 rupee market when the future started in 2006-07. Devang Kabra (03:16) So I've done long term, short term, midterm, whatever you call it. I've done all that. And I've blown up my account. I don't even have the count now. Maybe three or four times my own account I've blown up. And now by God's grace, with the help of the learnings which I have bought over the period of time I can call myself a very mature and a stable investor right now. In the course of this talk, I will tell you a few things which are completely contradictory to what you might have heard about. First thing, which is a contradictory thing is you get more ROI with lesser risk in delivery base rates compared to futures or leverage futures options. This is completely contradictory to whatever people, the big brokerage houses like Zerodha would tell you, or all the trainers which are around the market will tell you, everyone will tell you, okay, because you get the leverage, you will earn more. But the fact is, because you have the leverage, you will also risk more, right? In simple terms, futures trade is nothing but it is leveraging all your trades. Suppose you've got two lakh rupees in your bank. Devang Kabra (04:36) You buy a contract, futures contract worth six lakh rupees, keeping that two lakh rupees as a margin. That is what future trading is all about. It is trading on leverage. In delivery trading, it's very simple. You've got a crore. You can buy only one crore rupees worth of shares. In options and futures if you have a crore worth of shares or cash, whatever it is, you can go and buy three crores worth of contracts which you can sell at a future date. That is what is futures. Options are something more complicated. Let's not get into that. But options is also one form of leverage trading where you don't have the actual stock in your hand. But you have the right to buy or right to sell. In intraday you buy and sell on the same day. You buy for Rs10, try to sell for twelve and whatever it is and you get a certain return on your capital. So now the drawdown on capital is the risk. Suppose if you are buying something at Rs 100 and you are trying to sell it at Rs 120 on the same day, the stock might also go to 80 or 90 on the same day. Devang Kabra (05:38) Now if you are wanting to buy and sell on the same day, this is what the typical risk on capital is, 0.25% to 3% and the potential IRR. This is the yearly return. Now all these figures are my figures. These are my experiences, my actual trades which have documented in my trading journey. And I have come out on the averages based on this. So no one else can certify these figures but me. So it's the choice on you whether to believe these figures are not. There is positional trading which happens from seven days till three months. You buy something, hold it for max three months. There the risk on capital is 12% to 25% and the return is 12% to 80%. You can get up to 80% return if any of your things work out very well. There is a swing trading three to twelve months, again, the drawdown on capital is 25%. The potential drawdown potential risk is 25% on your capital, 12% to 80%, the same as the return potential. Now, long term. Long term is twelve months plus. Twelve months plus going up till five years, ten years. Rakesh Junjhunwala is holding Titan since 30 or 35 years. Devang Kabra (06:53) So 40% to 60% multiple times is the risk. Now, when people talk to you and tell you that you buy and forget, buying and forgetting means actually seeing your capital erode by 40% to 60% multiple times in your holding period. So that is the mentality which you need to carry to get this returns of 12% to Infinity. So Infinity is, I mean again, giving an example of Titan. I will come to that much later again. It has given a CAGR of 40% per year 40% CAGR, but it has given drawdowns of 29 or 30 times, it has given drawdown of 20% or more. 0.000001% of the people who do trading, who do leverage trading are making money. 0.000001%. Darshan Doshi (07:54) So one out of how many people are making money in trades? Devang Kabra (07:57) One out of a crore. And this false hope is given by every trainer on Earth that you are one out of that crore. But I'm telling you, you are not. It's as simple as that. The skill will come to you and your inner voice will tell you that, boss, I'm ready. But when will that happen? When you made good money in your delivery trades and delivery investments. After that, something inside you will tell that I'm ready. Participant (08:30) Maybe like calculus and advanced calculus. Devang Kabra (08:33) So this is not based on any calculations, I mean, Trading and Investing in equity markets is more of an art rather than a science. I'd like to make it very clear. People are trying to put mathematics around the whole thing and they are trying to systematize the whole thing. It cannot be. This market is not perfect because the market runs on emotions and emotions are not governed by mathematics. The stock price moves only when there is a buyer and there is a seller and why the buyer is buying and why the seller is selling. There is an emotional decision. Even if the buying and selling is happening based on an algorithm. The developer of the algorithm or the maker of the rules of that algorithm is a human being who is governed by emotions. So the stock market is always absolutely governed by emotions, which is the reason why you cannot. You can have a math, you can have a math, you should have. But to the extent of risk management and to the extent of broad based rules, you cannot define your rules or your systems of trading to the team. There has to be discretion for sure, right? Devang Kabra (09:45) So this is a broad difference between delivery and leverage trade. So in delivery trade, in delivery trade, basically you have something, you are paying money, you get something in your demat account. In leverage trade, you just have a position. You can convert a short-term trade into a long-term trade. Right? So this happens when you buy something for 100 and it goes for 90 and you don't want to book a loss and you say okay fine, let it be. But then you can decide midway to change your strategy. In leverage trade you always have to be short-term. You cannot be long-term. It's highly impossible to go long-term if you are having a leverage trade because as I told you the 20% fluctuation in price will wipe out 60% of your capital. So the power to stay on is not there if you're leveraging a trade. Time spent to see the markets is minimum. So if you're getting into delivery trade, it's okay. I mean you can buy and forget or you can buy and hold. You just have to see the prices once in the morning, once in the evening and you're done with it. Devang Kabra (10:54) But if you're leveraging you have to put I mean automatically your whole attention goes into seeing the market, seeing the prices, seeing the movement and your attention, mindspace, everything gets focused. Whatever you are currently doing as a full time core focused activity, it gets completely defocused. You are completely defocused. That's a huge price to pay for doing leverage training. Forget the money. Even if you make money this is a huge price to pay because what you are primarily doing is getting disturbed. That has happened with me number of times and I cannot express it in words because for example imagine if you are giving two, three, four hours of your daily time in seeing the markets just because you've done a leverage trade and your chance to win is maybe 20-25000 per contract. But then look at the time which you're spending. Your daily portfolio volatility is max 2% if you have 15 to 20 stocks. Now if you have six to eight stocks where you are doing a very concentrated portfolio your volatility will not go beyond 5%. This time talking on capital. Now here you are having 6% to 15% assuming you're having a 300%. Devang Kabra (12:16) So every day if you've got a crore you're seeing either 85 lakhs or 120. Next day again, it can go to 60 or 70, so on a daily basis you have to see that volatility and sleep. So it's very tough to have a good night's sleep if you're doing this. And that is also I'm sure Darshan would have told you to have a good sleep, to have peace of mind is also a part and parcel of having financial freedom. Right? So this I am talking about drawdowns. I am just giving you these tags because the questions this itself will automatically answer the questions which Darshan has posted me and it will later on come to you. Now Titan Limited, Rakesh Jhunjhunwala, Marquee Investment $2 billion or investment now it has become for him. Now he bought the stock when it was single digit. Now this I've got from the charts. This table. Now this is the summary. You have seen a 20-30% drawdown from top to bottom, 16 times in 20 years, 16 times, 30% to 40%, seven times and 40% plus six times. So 16 times in 20 years. So at least once a year on an average you are seeing your capital erode by 30%, 40% and 40 plus the highest being here, you can see this 61% in 2007 when the price was 88. Devang Kabra (13:55) So on a CAGR or on a mathematical model basis, the stock has given 38% cap from 2002 to 2008. But this CAGR has not come in a straight line. I'm trying to, if you can pay attention to this, highlighted this thing with Rs 4 starting from 2002 if I do a CAGR of 1.38%, in 2005 it should be Rs 11. Year 2005, the price was Rs10. So almost it's going in a linear CAGR in the way the mathematics is there. But now is where the mathematical models goes for a toss. In 2010 the price should have been 53. But this price was achieved in 2006 itself. So the price has run faster than the calculated CAGR. From 2011 till 2018, the CAGR moment of the stock was slower than your arithmetic calculation or straight line calculation. So the point I'm trying to put here is I will also show this to you on chart after I end the presentation. That chart will depict more about how you are, about how emotionally you have to tackle the drawdown. You can see this, the drawdown lasted for 373 days, 43% draw down lasting for 147 days, 21% drawing for 14 days. Devang Kabra (15:32) Now you have to understand, if the stock is taking 14 days to come down from Rs 10, it will definitely take more than 14 days to go up. Whenever you see the stock market, the stock price comes down faster at a faster, higher pace compared to when the price goes up, it goes up at a lower pace. So whatever number of days I mentioned here it is minimum double the number of days which is taking itself to come to this price, Rs 53. If I'm talking about 35 days, it is taking more than 70 days for the stock to come up to this 53 rupees. Now you see this, 210 days, you're talking about more than a year of zero returns, 126 days, 34% drawdown, 238 days. Multiply that by two and see how many number of years you have to sit idle with the investment. This is the kind of patience and this is the kind of temperament which Rakesh Jhunjhunwala , which maybe me and you don't have. And this is the reason why he's having those $2 billion. These are what I call the risk assets. Equity, mutual funds, SIP, PMS and Investment Advisor. So whether you invest money to investment advisors, PMS, you do sip mutual funds or you do directly in equity. Devang Kabra (16:57) These are all risk assets. Let's understand that there is a risk because the money is flowing into the equity markets what Sip and mutual funds do is they reduce the volatility for you. They act as shock absorbers because you are putting in money at every interval, at every price. So you just keep on putting in money which reduces the volatility for you. Otherwise the risk is there. So there are equity mutual funds. There are PMS who have given negative returns also in certain years. And they've given stellar returns also in certain years. Then there are these index ETFs, Financial, ETFs, emerging markets, if you talk about beyond India. So there are emerging markets like other Philippines, Vietnam, Korea. But all these markets are also very promising. Devang Kabra (18:03) So then there are these new tech stocks which are just recently, in the last one and a half years, the Paytms of the world and the Policy Bazaars of the world have been so these new tech stocks, there is a different science to invest in new tech stocks, which is a completely different session altogether. But yeah, these are risk assets which have potential of giving you very high returns. Devang Kabra (18:29) The bond and the money markets are safe havens. Supposed to be safe havens. Bond is again supposed to be safe heaven, but it is not no longer a safe haven anymore. Because if you would have switched your equity mutual fund and switched some part from equity into the bond, you might be knowing what I'm saying. What I'm talking about. Gold, silver, platinum, palladium and precious metals miners. So precious metals miners, meaning in India we got Hindustan Zinc which mine silver. We got Hindustan Copper which mines copper. Copper is a non-precious metal. Vedanta is one company which has got certain portion of silver mining. So these companies, there are a plethora of such companies in the US. In fact, there are ETFs in the US based on silver miners. Gold miners. There are thematic ETFs in the US which only deal in the mining companies. There is a US dollar then real estate which is supposed to be safe havens. And now we've got REIT's. Then there are developed countries indices which are safe havens as per the textbook, but they are actually not safe heavens anymore. Then there is a defensive sector, for example, Pharma, FMCG, PSU's. These companies which will be running. Devang Kabra (19:52) They will be selling products irrespective of your recession, irrespective of your work or whatever it is the business of Pharma and FMCG will keep on running. Now what the allocation should be? Now, the allocation should be ideally anywhere between 20-30% in the safe haven assets and 70% to 80% in the risk assets, depending upon what you're comfortable level is. Again, as I told you, equity, the markets are not signed. I cannot draw mathematics around it. It all depends upon what your current outlook about the market life in general, what currently you're earning, how much you're saving, what stage of life are you currently? But all in all, with personal experience except for gold. I don't have my personal money invested in any of the safe-haven assets. Except for gold everything else is in the risk assets and gold is also not investment actually. I mean we just make jewelry out of the gold and the ladies of our house enjoy. So that's it. And this I cannot even say. Right. So this is something which is a buy and forget for us. Apart from that, as far as real estate is concerned, we bought a house and we bought an office. Devang Kabra (21:17) That's it. We don't own any other real estate. And again, my logic I will come to you later. Now, whether you should invest directly or indirectly. Now it all depends upon what stage of life you are in, how involved or how focused you are in your current profession. It depends upon that what interest level you have with the equity markets, whether you love equity markets or not, you have to love equity markets. You have to love seeing the prices, the fluctuations, the profits, the losses. You have to love to see the loss and make a Journal and then come back to the Journal, go back to the drawing board and understand whether it's a long term or short term investment, understand where you went from and do the corrective action and then have the patience to wait for eight to ten years till the time you get it of how to do it. So if you have that kind of passion, even on a part time basis, you are perfectly okay to go direct. If that's not the case, it's better you focus on your current profession, earn money out of that and do an indirect way of investing in the equity markets, which can be through mutual fund, Sip, investment advisory, PMS, whatever it is.

Devang Kabra (22:38) So again, what risk you are willing to take? Now, take it from me in writing, safe asset or risky asset, you need to be prepared to lose half the capital you invested, you have to have the mentality to see. Many people, I mean I've got many clients. So I've got clients who are into businesses, I've got clients who are professionals. I've got clients who are doctors. So many of these consulting kind of professionals, they have always spent their time, earned money. They've never seen a loss. They have never run a business where there is a chance of a loss or there is a risk because they are skilled at something, they perform certain services and they earn money. If there is a 20% drawdown, they go haywire, they go bonkers about the loss. On the other hand, a person who's into some trading business or who's into some manufacturing business, he has seen some losses. A first generation person who started a business on his own with a small capital, any business. So he's got a different mentality and a different approach to see the losses, whether it's direct or indirect. So it all depends upon you. You have to take your call. The best what I would suggest is that what I would recommend is if you cannot, take out time from your current profession and you see yourself growing in your current profession, just stick to that, earn money from that and let this money work for you and do an indirect mode of investing. Devang Kabra (24:38) Start off with that. Suppose if you invest, I'm just giving a ballpark figure. Suppose you have 1 crore indirect investment, then use 10 lakh rupees for direct and then you dabble around with that ten lakh rupees and see what you're good at. Because you again have to do the trial and error. You have to do long term, short term, midterm, all kinds of investing. And then you will discover what you are good at after you start doing. So this investing directly is a long process. It's like fighting your cycle. It's like playing golf. You are playing golf and you are analyzing your own shots. You are playing against yourself. There is no opponent. So if you finish a hole in three shots, the next time you have to finish the same hole in two shots, you have to analyze and you have to understand how you should go about it. So this game you're playing with yourself. So only if you have that patience, you should go direct. Otherwise it's better you go in there. Now whom to entrust your funds? That was one good point put up by Darshan. Now one should choose a trustee of your funds if you can resonate with his thoughts and his personality, it's as simple as that. Devang Kabra (25:53) And this is very abstract. This is very right brain thinking. Now if this is not, I mean, ideally I would not choose HDFC because HDFC is the biggest name in the industry. I would not choose SBI because SBI is the biggest name in the industry for mutual fund. I would rather, see it's my hard- earned money. I would take the effort, dig deep and understand who the fund manager. If I'm putting my money in a certain product XYZ product, I should go big and I should understand who the fund manager is for my particular fund. And I should get his track record. Because many times if you put money in HDFC, let's say, for example, Mr. Prashant Jain is managing your fund. Tomorrow, Mr. Prashant Jain moves to ICICI and your fund is still with HDFC. What happens? Then the discretion or the investment discretion of that fund lies in the hands of the new fund manager, which has come in place of Prashant Jain. I'm just giving you a hypothetical example. So it's very important that you understand who the fund manager is, who is taking the decision to manage to put in your funds. Devang Kabra (27:12) You should understand that and I think that exercise is worth it because you're interested in your hard own money. Now, how to assess the Advisor the worst method is to assess the advisor by looking at his terms. This is again a contradictory statement I'm making, but it is very, very true and it has come out of experience now I work with a certain strategy. I work with a certain discipline. Now, my strategy has given a 120 percent return in 2021, but it has given a 28% return in 2022. It has given up 40% plus 38% return in 1920. Now, these returns are different. My strategy is the same. So every market condition is not good for the same strategy. For the same strategy. Tomorrow, I might give negative, I might give maybe 12%. I don't know. But the same market condition is not advantages to a particular strategy. Some market conditions are very good for long term buy and hold. Some market conditions are good for trading. So looking at the returns, you really cannot assess whether the manager is good or not. How you can assess whether your fund manager is good or not is by the way, Darshan is recording. Devang Kabra (28:33) I think if the fund manager is pitching your Zoom or if the fund manager is pitching you personally, I insist that you record or make notes of what he's talking about, what his strategies are. And then you go and you see whether it's implementing the strategies which you are selling you or not. The sales pitch should be the same as the execution. If I am telling you, I will buy and hold for long term, am I doing that? If I am telling you I will buy only fundamentally good companies, if I'm telling you, I will do only Nifty 500. And tomorrow, if I go and buy something which is outside Nifty 500, I am not following my discipline. That is, forget the returns. If I'm giving one, I've given 120% returns. It could be a fluke, right? But the point is when you know that it's not a fluke, when whatever I'm saying, I'm exhibiting the same that you have to assess from the fund manager. It's a funny statement, but it will be good to check if your advisor or your fund manager is doing yoga, pradays or meditation regular. This is funny. Contract free, whatever you call this is very important for me and this is very important for this discussion. Devang Kabra (29:55) So I would again like to have a show of hands. How many of us are doing yoga program and meditation regularly? Darshan Doshi (30:06) One of the pillars of DASAR is peak fitness. That includes meditation, that includes yoga, that includes strength training. And so I'm very happy to hear this from you as well. But please do continue. I don't want to interrupt. I do want to keep a quick time check. I hope if you have any follow up questions or if there's anything more, just interrupt Devang. All right. Devang Kabra (30:43) I'm so passionate about it. I actually did not have a track of time. I was just going on. So if I'm boring you, just let me know, right? Yoga Pranayam, I'll just tell you a basic premise. The basic premise of this is the screen in front of you, which shows the stock market prices. You see the chart, you see the screen, whatever it is, the same screen is being seen by Rakesh Jhunjhunwala. The same screen is being seen by me and you, seeing the same price. Seeing the same screen different. Your own fund manager will buy HDFC. Another fund manager will sell HDFC after the announcement of the merger. This is all the decision. And if you ask anyone, I'm sure you might have read that any big investor, biggest of his investments have come when he has not taken more than 15 minutes to decide on the investment. Do you agree with me? I'm sure you might have read a lot of things. I mean, where does that conviction come from? It comes from consciousness. It comes from what the screen is telling you. It comes from understanding what the data in front of you is telling you and having the conviction to take the call and to stake your capital in it. Devang Kabra (32:14) Now, the point of doing yoga, Pranayama and meditation is increasing the level of your consciousness so that you can perform better. It's as simple as that. Performing better not only the markets, in whatever profession you're doing in your family life, social life, all sports, everywhere. As I told you, that's all I'm saying. Asset allocation should be 80 20 out of 80 risk assets. At least 30 should be long term allocation. That is what I mean. So the starting point should be long term. Long term allocation. There are various filteration processes and various things. I have been in phases where my risk is charge, now there is data, there is free. So you have a certain criteria based on which you filter the stocks and you decide what to invest for long term, at least 30% long term allocation. You start with long term and then slowly and gradually reduce your time frame. Try to trade in the short term with a small capital. Don't do book reading formally under not less than 25 30 people. But the best teacher has been my own experience, my own trading Journal. Even if I bent my rules, why did I bend my rules? Devang Kabra (33:55) Everything is Journaled and that Journal if I see my Journal three years back, I just hit myself on the head and I see so lot of things. Your trade job will teach you everything. Basically talking about safe haven assets. For Indians, gold and silver are the best safe haven assets. Obviously, I would put PSU mining stocks also in the sales haven't category because they give at least 45% divide. From compounding perspective, one should only own two homes. Only two homes. Office shop go down, factories only if you have a certain business and that business requires you to own these things. The reason is very simple. Real estate is a very slow compound. You put simple Excel and the Excel will give you your answer. So you should invest in real estate only according to me. Again, I reserve the right to be wrong, but only if you have a certain skill set or certain connection or certain there are a few people me and you know who buy things in litigation, Rubeka cheese, they do the litigation, they solve the litigation and then they come and sell in the marketplace. So only when there is someone who stuck with real estate is not able to sell and you do a down payment and buy it at a heavy discount and then try and trade that. Devang Kabra (35:52) Only if you have that kind of skill set and capital you should do real estate. Otherwise simple Excel Pay compounding formula. You will understand real estate is only giving you peace of mind. It is not giving you just thinking that okay, I've got this real estate, I've got this rental property from your rental so it's safe and secure. I would rather tell you to buy Brigade Enterprise stock of Brigade Enterprise or Prestige Estates or a DLF rather than buying a real estate.

Participant (36:27) We do have one question by Bhavish. He says he is looking to invest in multiple of Rs25,000 in Sips. So should he choose fund managers like Deserve or look for personal fund managers? Devang Kabra (36:47) Right. So 25,000 per month may investment advisors. I mean choosing investment advisors is I don't know. There are very few investment advisors who do who advise or who work on 25,000 per month who invest rather than an investment advisor would actually direct you to do an Sip or a mutual fund and invest that Rs 25,000 per month on a steady state basis. What I would rather suggest him to do again based on his interests and his capacity and the current job or business, whatever he's doing, you can invest in a certain through investment advisor or mutual fund. You can invest and then you can part them all. Maybe 25,000 equity markets may direct them halfway through mutual fund invest. So for example, you're buying a large cap fund and the large cap fund is investing in your 10,000 there with your Rs 10,000. You buy a Nifty 50 or stock of your choice or whatever you can study, you put in money and then you compare the results. So it is not competing with the mutual fund. It is to get yourself running experience. The capital is very small. Darshan Doshi (38:35) Thanks. So just the way in the course Get Financial Freedom. If you're early in your career, focus on savings, focus on a bit of investment will help in compounding to be able to get to financial freedom at a certain decade, maybe two decades depending on where you are. But if you are someone who inherits a family fortune, then for you to grow that well, you need a different strategy, a game plan, and everybody's situation is different. And so I think if I may paraphrase Devang, it's basically make sure that you're choosing someone who has a game plan for your stage of life or your amount of money for your amount of growth that you are looking for with obviously a value match. So with that, this has been an awesome session. Can we please have quick reactions there's a reaction button at the bottom. Would love to get some feedback. Feel free to drop a comment or two so that it becomes a good feedback for day one and for us as well. I have two major insights from this session and the first one is your candidness and your ability to speak openly and get to the point right. Darshan Doshi (40:03) I think I really learned a lot where you are able to call a spade a spade and give and explain concepts and your contradictions based on your experience as it is. And not a lot of people do that. So I'm extremely grateful for that. The second bit of it is we hope you get into this good problem like another Pune fund which is 7000 crore, where do I deploy you're early in your fund management journey? We wish you all the best. We hope to see you have this good problem that there's so much money, I don't know where to invest. I think it's a good problem to have.

Devang Kabra (40:48) As of today. Looking at the liquidity of the market and looking at the Nifty 500, I would probably stop at 150 crores and stop taking in funds altogether. If the liquidity by that time increases, it's a different story. But I would rather look at delivering 30%, 35% or 40% or 100 crore compared to delivering 15% on 1000 crowd. Darshan Doshi (41:18) Lovely. So, guys, there's a small window of opportunity, right has to come forward as well. Thanks a lot, Devang. You have a lovely week ahead and again, a lot of gratitude to you, rest of you. This is inspiration, this is knowledge, this is insights. All of this is pointless. If you don't take action, you don't do the exercises that are there in the get financial freedom course focus or the main point is to move one step, two steps closer towards financial freedom by taking action. So I hope you're able to do that so we'll close up with that. Thanks a lot Devang. Devang Kabra (42:04) Again, thank you so much. Thank you for having tolerated me. Participant (42:10) Wonderful. Thank you. Devang Kabra (42:13) Please, those of you not started, please start yoga meditation in whatever way you can. That will change a lot. Darshan Doshi (42:19) Don't worry. We've got yoga courses and meditation courses from DASAR online at the fingertip of your phone a week from now. All right, thank you. Devang Kabra (42:35) Thank you so much.

If you liked this podcast, you may also want to listen to: * Decoding the Indian Fund Management Industry | Mandar Mhatre | Investing | Personal Finance | Wealth | Stock Market * Gaining Financial Independence | Darshan Doshi | Personal Finance | Financial Freedom | Optionality | Career | Wealth * Why You Should Manage Your Own Money * D2C Brands | Creating #1 Consumer Food Brand | Ravi Nigam | Tasty Bite | IPO | M&A * Building Enterprise Tech Products | Shridhar Shukla | SaaS | kPoint | Video Analytics | Tech Services vs Products | DASAR * Building Billion Dollar SaaS Companies | Monish Darda | ICERTIS | Contract Lifecycle Management | Culture | Bikes

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How the Super Rich Made $1.3 Trillion in 2021? Podcast | Personal Finance | Darshan Doshi | DASAR January 21, 2022 Darshan Doshi 4:05 0 Comments

2600 Billionaires added $1.3 Trillion to their wealth in 2021. How much did your net worth increase in 2021? In this podcast, Darshan Doshi talks about personal finance, investing to grow your money, setting financial goals, and how you can become financially independent through the 90 Day Get Financial Freedom Bootcamp.

Know More https://dasar.in/podcast-player/9097/how-the-super-rich-make-money.mp3 Download file | Play in new window | Duration: 4:05 | Recorded on January 21, 2022

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