She worked hard and saved harder. Multiple instruments. As recommended by her LIC officer. Her UTI agent, her bank manager. Her LIC officer didnt tell her about the trip to Bangkok he got if he got his target of insurees. The UTI agaents commision on each penny she invested in was a secret she was not privy too. Her bank managers monthly quota of fixed deposists made her just another dot on his sales graph. A dot that made him look good in the eyes of upper management.
The stock market. Nobody even told her about it.
Too risky baba. Its just like gambling . Only instead of horses you back companies.
No, No . It's not gambling. They are sure to make money. They already are and need more money too expand.
But what ddo they do ?
They make chappatis.
Yes. Imagine . Ready made chappatiss. Every house wifes dream. No more kneading flour at home. No more burning your fingers on a hot tava. No more sieving the flour to get the weevils and the stones out. Ready made chappatis. Heat and eat. How can they not do well? We are all going to invest and we'll be millionaires. The more money you invest the more chappatis they sell. The more chappatis they sell the higher your dividend.
But suppose they take my money and vanish ?
They cant do that they are listyed on the stock exchange. They have an ex army general on their board of directors. They have a factory in Kalyan. They have 300 employees.
Ok. How much will a hundred shares cost ?
That much. Dividend ?
They havent paid a single dividend yet. They're still building the company. Get in early. Next year the share price will double.
What Mary no fixed deposit this month. Going for a holiday ?
The share price was going up. She encashed her LIC policy to buy more shares. With the announcement of a Dividend at 20 % she liquidated whatever she could of her provident fund. The share price doubled. Then it halved, quartered and vanished. The factory closed down. Chappatis were not a product that travelled well. Not from Kalyan to anywhere. How to hide losses from showing up on a share report. How to put an ex army generals name on your company letterhead when he is in an advanced stage of alzeihmhers. How to manipulate a stock price. the chappati makers could have written the manual for them all.
No more first class pass. No more holiday to Goa this year. Definitely no more stock market. It was just a lot of bull. Irrespective of whatever Warren said.