2 replies to this topic

[greenie]

Things are changing here. My 65 year old mom always saved her money in bonds - government bonds (available from post office), bank bonds and so on. This is what she learned from my grandfather. This practice was nothing unusual for her generation. Every elderly person I knew in India saved money in the same way. When I grew up, my mom told me that the stock market is a place for gambling. Things were different this time and my mom found some alternate investments. Some agent sold my mom two 'mutual funds' to save a good chunk of her money. She got advice from others that those mutual funds are good, because they were best performing last year. Also, the agent told her that she will never lose money in them. Anyway, I come here and get to see the papers of the funds. One is called 'reliance long term equity fund' and the other is called 'reliance vision fund'. I told her that one can both gain and lose in these kind of products. So, she asked me to talk to the agent, who sold her the funds. The broker is a very friendly fellow. He told me that one of the funds ('long term equity') has been gaining 15-20% return for last so many years. The other one is also an equity fund, which made 40% return last year. He was very convincing that these funds never lost money in recent history, and so he does not see how they will in the future. Also, India is growing fast, blah-blah (we know the rap). I asked the broker why he did not invest all the money in the fastest growing fund. He explained that it is due to diversification. Well.... Also wanted to mention that my mom has made the safest choices among the elderly people I see around. One of my aunt, who was previously a physics and chemistry tutor, has now become a 'professional day-trader'. My cousin, who works in an IT company, told me that people do not join IT jobs where the companies restrict certain internet accesses, such as the ones to the trading websites. Daytrading is very common in all IT companies.

[OEXCHAOS]

Yikes. Sounds like 1999. Do us a favor, get a small %-age of your day-trading countrymen to swing on by Traders-talk to learn a bit. We could use the traffic...assuming it doesn't crash our server! M

[vitaminm]

Yikes. Sounds like 1999. Do us a favor, get a small %-age of your day-trading countrymen to swing on by Traders-talk to learn a bit. We could use the traffic...assuming it doesn't crash our server!



M

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