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By:

Kaustubh Kale

10 September 2024 at 11:37:15 pm

Modak and the Art of Investing

As the aroma of freshly steamed Modaks fills homes during Ganesh Utsav, the festive spirit comes alive instantly. My mouth is already watering at the thought! The humble Modak, prepared with love to honour Lord Ganesha, may look simple from the outside. But anyone who has tried making one knows that a good Modak depends on several things coming together - the right ingredients, the right recipe, patience with the process, and finally, enjoying the result. Investing is surprisingly similar....

Modak and the Art of Investing

As the aroma of freshly steamed Modaks fills homes during Ganesh Utsav, the festive spirit comes alive instantly. My mouth is already watering at the thought! The humble Modak, prepared with love to honour Lord Ganesha, may look simple from the outside. But anyone who has tried making one knows that a good Modak depends on several things coming together - the right ingredients, the right recipe, patience with the process, and finally, enjoying the result. Investing is surprisingly similar. Choose the Right Ingredients A Modak is only as good as the ingredients that go into it. Fresh coconut, good-quality jaggery, properly prepared rice flour and the right flavours all contribute to the final result. Our investments and financial products are the ingredients of our financial plan. Equities, mutual funds, fixed income, gold and other investments each have a specific role to play. The objective is not to pick whatever appears most exciting at the moment, but to select suitable, good-quality investments that match our financial goals, time horizon and ability to take risks. Health and life insurance are equally important ingredients. Adequate coverage helps protect savings, the family, and their financial goals and dreams. Good ingredients provide the foundation. But ingredients alone are not enough. Get the Recipe Right You may have the finest ingredients in the kitchen, but if the proportions are wrong, the Modak may still not turn out well. The same applies to investing. Asset allocation is the recipe of a financial plan. Too much of one ingredient can spoil a Modak. Similarly, excessive concentration in one asset or too much money in low-return products can spoil a portfolio. Balance is key. A thoughtfully constructed portfolio brings different investments together in the right proportions. To keep asset allocation very simple - short-term goals can be planned through bank fixed deposits, recurring deposits and debt mutual funds. For long-term goals, one can consider hybrid mutual funds, equity mutual funds or direct stocks. Trust the Process Once the Modak is shaped and placed for steaming, constantly checking whether it is ready will not make it cook faster. Investors often make the same mistake. We keep checking markets, reacting to every correction, chasing recent performers or changing strategies because of short-term noise. Good investing requires patience and discipline. Invest regularly, review periodically and allow your financial plan enough time to work. Compounding is powerful precisely because it rewards those who remain invested for long periods. Sometimes, the best thing an investor can do is simply avoid unnecessary interference. Enjoy What You Have Created Finally comes the most important part - eating the Modak! The purpose of investing is not merely to accumulate the largest possible number on a statement. Wealth should eventually help us fulfil our goals, support our families, create financial security and enjoy life with greater peace of mind. A good Modak needs the right ingredients, the right recipe and trust in the process. A good investment journey needs exactly the same. This Ganesh Utsav, may Bappa bless us with the wisdom to make good financial choices, the patience to stay disciplined, and the prosperity to enjoy the fruits of our efforts. Ganpati Bappa Morya! (The author is a Chartered Accountant and CFA (USA). Financial Advisor. Views personal. He could be reached on 9833133605.)

Ajit Pawar questions aunt joining campaign

Correspondent
Nov 17, 2024
2 min read

Updated: Nov 18, 2024

Pratibha Pawar

Mumbai: As Pratibha Pawar, wife of NCP (SP) boss Sharad Pawar steps out of the shadows to support her husband’s battle, an upset Ajit Pawar reacts saying Pratibha kaki didn't campaign in past, how is she doing it now.


Faced with Ajit Pawar’s revolt against Sharad Pawar for a second time, Pratibha Pawar has extended support to Yugendra Pawar, Ajit’s nephew and Sharad Pawar’s chosen candidate in Baramati, in a battle that pits nephew against uncle. The electoral scene in Baramati has intensified. The race has drawn significant attention, especially with Ajit's aunt, Pratibha Pawar, campaigning for her grandnephew Yugendra, despite traditionally abstaining from any political events.


The deputy chief minister Ajit Pawar, who is locked in an electoral battle against his nephew Yugendra, on Saturday said his aunt Pratibha Pawar never campaigned in the past but is doing so for his rival now. Addressing a rally here, Ajit Pawar, the head of the ruling Nationalist Congress Party (NCP), sought to know his aunt's "sudden affinity" towards her grandnephew Yugendra, who has been fielded by her husband Sharad Pawar's NCP (SP) from the family's home turf.


Election fever has reached its peak in Baramati in the last phase of the campaign for the November 20 Maharashtra assembly polls with both - the ruling NCP as well as opposition NCP (SP) leaving no stone unturned. Family members on both sides of the divide are currently reaching out to voters.


Sharad Pawar's wife Pratibha, who generally keeps away from politics, and Supriya Sule's daughter Revati are also campaigning for Yugendra, who is the son of Ajit Pawar's brother. This is the first assembly election after the NCP' split in July last year.


According to Ajit Pawar, “From 1991, I have contested the election and been elected as MLA. Did you see Pratibha kaki coming for campaigning? So how come sudden affinity is shown towards the grandnephew, I fail to understand. I will ask Pratibha kaki about this once the elections are over.”

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