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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.)

Another Thackeray Son Rises

Writer: Abhijit Mulye
Abhijit Mulye
Oct 24, 2024
2 min read

Updated: Oct 25, 2024

Amit Thackeray

Amit Thackeray, son of Maharashtra Navnirman Sena (MNS) Chief Raj Thackeray, has finally entered the electoral politics. His father announced his name as the party candidate from the Mahim assembly constituency in Mumbai on Wednesday.


It was in the year 2020 that Amit was formally inducted in the party that his father founded. Within two years he was made the chief of the youth wing of the party. Being the son of the supreme leader of the party, the respect and the aura come to him naturally. But, more than that he is a very patient listener and lends an ear to the party workers. He also mingles a lot among the grass root workers of the party, by which he has been able to form a base for himself.


Amit has an impressive personality and his public presence is assuring. Though his public speaking skills have not been tested much as yet, he is effective in smaller meetings and guides the party cadres carefully. Due to these organizational skills, he was made to tour the whole of Maharashtra as the youth wing chief of the party and he gathered cadres and built the youth wing of the party in most of the places across Maharashtra, tell his associates and party workers.


Amit is married to fashion designer Mitali Borude and the couple is blessed with a son. Amit knew Mitali through his sister Urvashi who runs a joint venture named ‘The Rack’ with Mitali in Bandra. Amit and Mitali came closer during his serious illness a few years back. She lent him great support and helped him come out of the trauma. They tied knot in 2019.


After being launched in the politics and given the responsibility of the youth wing, he was being groomed since past few years for the municipal polls. For the MNS, the municipal polls had been more significant. However, since those elections haven’t taken place, he was asked to conduct meetings of the party workers across the state ahead of Lok Sabha elections a few months back. At the last moment his party decided to lend unconditional support to PM Modi and Amit had to withdrew his plans to contest parliamentary election.


His name was also doing rounds ahead of the assembly polls in a similar fashion. Speculations were rife that he might contest from Worli assembly segment from where his cousin Aaditya Thackeray is the sitting MLA. With Raj Thackeray naming Amit as the party candidate for Mahim all those speculations have been proven wrong. Amit will face Shiv Sena’s sitting MLA Sada Sarvankar and Shiv Sena’s (UBT) zonal chief Mahesh Sawant in the poll fray.


Mahim assembly constituency is a Marathi stronghold and senior MNS leader Nitin Sardesai had represented the constituency in Maharashtra assembly between 2009 and 2014. Shiv Sena’s Sadanand S. Sarvankar won the constituency in 2014 and 2019. He is currently with CM Eknath Shinde and the three term MLA is expected to contest again contest the seat and brace for a tough fight vis-a-vis a Thackeray ‘heir’ jumping into the fray.

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