Let Me begin this Chronicle from the late Nineteen-nineties , when I began my “speculative Journey” – I would bunk college (my final year of graduation) to show up at my brokers office just in time for the markets to open . It might be pertinent to add here that markets were structured ‘differently’ then as opposed to now ,i.e, there was a Monday-Friday -settlement cycle for the BSE – and a Wednesday-Tuesday , settlement cycle for the NSE – and there was a also the concept of physical delivery of shares that took place – besides other concepts like ‘bad delivery’ and the ilk .
Taking the story forward -The First Stock I bought was Orchid Chemicals - Luck favored and– I made a profit of INR 5000/- , holding on to the trade for less than 4 days – I was ecstatic – this was a princely sum for a young lad back then – for a four day – zero investment trade .’Profit’- is the best motivation -As I learnt my first lesson- and– i was turbo charged with my profit, I would wake early hours to scan every newspaper and the day would end late nights chatting with friends and chalking out the ensuing days strategy.
Moving on - I realized early on in the journey that ‘Liquidity’ and ‘Networking’ were far more powerful drivers to stock picking than ‘Technicals’ and ‘Fundamentals’ , Back then -Though the internet was at a nascent stage – there were a fair bit of savvy investors and traders putting up views/stock picks etc online – I would often write to these investors and traders with a networking request – one in 10 would write back – but I made sure to keep the conversation going with those wrote back .
………. To be continued
PS : Please excuse if you find this piece a bit disjointed – writing is not my forte – stock markets and Law are !!
Please send any feedback – networking requests to – sunil@sunilchabria.com
