Get your investment tips “locally”
If I ever leave the city of Mumbai, the one thing I will miss the most is taking the 10.08 Churchgate slow, from Andheri, every morning. Its been a little over two months since I landed up in this city and have since then taken a fancy to the city and its ubiquitous local trains. “ Agar local na hoti to is shaher ka kya hota”, I wonder.
After taking the local train to office for almost one week I realised how Mumbai and Mumbaikars, “eat, drink and breath”, the stock market.
The initiation started some time in early October. I happened to overhear a conversation between two MBA types, who from what I could make out from their conversation, had started working only this year. One of them had received a stock tip about a Foreign Institutional Investor (FII) getting ready to invest in particular stock. News had reached him and this guy had already picked up the stock and was advising the other guy to do the same. “This FII, never gets it wrong”, he said.
And if you feel this was just an aberration, wait till you hear the next one. Sometime in late October, there was this Gujarati man sitting next to me. From the looks of it he seemed to have had a late night. He was taking a morning nap till his mobile started ringing. “ Haan, aaj 8000 Infosys nikal dena”, he said. I couldn’t believe what my ears had just heard. This man had so nonchalantly done a deal of over Rs 20 lakhs. From the looks of it, his face wouldn’t make you turn twice. Appearances as they say are really deceptive.
Mumbaikars make all kinds of investment decisions when travelling to office. Right from doing their tax planning to deciding whether to invest in an initial public offering (IPO). The recent ICICI Bank IPO generated some heated discussions on whether the stock was a good buy. I have even heard people enquiring about a penny stock on which they have a tip.
But one thing that really tells you that a Mumbaikar is really serious about his market is the seriousness with which he reads the pink newspapers every morning. There might be no space to stand (let alone sit) and he would be hanging on to a hand rail but he will still have a newspaper in one hand with his eyes totally concentrated on the article which explains where are the markets headed to in the days to come.
The lucky guys who get a place to sit, first open the full length of the newspaper to read. As the train keeps moving and more people board on, they keep folding the newspaper to make up for the lack of space, till it’s so small that it can be held between two fingers. Such commitment to financial news can only be seen in this city of Mumbai.
An outsiders view of Mumbai is that Mumbaikars with all the travelling they do never have the time. I guess, one needs to live in this city to realise the value of time. “ Time”, as they say, “ is money”. Mumbaikars realise this more than anybody else does and instead of wasting time while travelling, they try and make the best of it.
After taking the local train to office for almost one week I realised how Mumbai and Mumbaikars, “eat, drink and breath”, the stock market.
The initiation started some time in early October. I happened to overhear a conversation between two MBA types, who from what I could make out from their conversation, had started working only this year. One of them had received a stock tip about a Foreign Institutional Investor (FII) getting ready to invest in particular stock. News had reached him and this guy had already picked up the stock and was advising the other guy to do the same. “This FII, never gets it wrong”, he said.
And if you feel this was just an aberration, wait till you hear the next one. Sometime in late October, there was this Gujarati man sitting next to me. From the looks of it he seemed to have had a late night. He was taking a morning nap till his mobile started ringing. “ Haan, aaj 8000 Infosys nikal dena”, he said. I couldn’t believe what my ears had just heard. This man had so nonchalantly done a deal of over Rs 20 lakhs. From the looks of it, his face wouldn’t make you turn twice. Appearances as they say are really deceptive.
Mumbaikars make all kinds of investment decisions when travelling to office. Right from doing their tax planning to deciding whether to invest in an initial public offering (IPO). The recent ICICI Bank IPO generated some heated discussions on whether the stock was a good buy. I have even heard people enquiring about a penny stock on which they have a tip.
But one thing that really tells you that a Mumbaikar is really serious about his market is the seriousness with which he reads the pink newspapers every morning. There might be no space to stand (let alone sit) and he would be hanging on to a hand rail but he will still have a newspaper in one hand with his eyes totally concentrated on the article which explains where are the markets headed to in the days to come.
The lucky guys who get a place to sit, first open the full length of the newspaper to read. As the train keeps moving and more people board on, they keep folding the newspaper to make up for the lack of space, till it’s so small that it can be held between two fingers. Such commitment to financial news can only be seen in this city of Mumbai.
An outsiders view of Mumbai is that Mumbaikars with all the travelling they do never have the time. I guess, one needs to live in this city to realise the value of time. “ Time”, as they say, “ is money”. Mumbaikars realise this more than anybody else does and instead of wasting time while travelling, they try and make the best of it.
posted by Vivek at 3:45 AM
2 Comments:
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