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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.)

In a first, Pakistan admits loss during Operation Sindoor

PTI
Dec 28, 2025
3 min read

President Zardari reveals he was advised to hide in a bunker


Deputy PM says Nur Khan airbase was attacked

By M Zulqernain

Lahore: Pakistan President Asif Ali Zardari has revealed that he was advised to “hide in a bunker” when India launched Operation Sindoor in May this year.


Zardari made the revelation while speaking at an event in Larkana, Sindh province, to mark the 18th death anniversary of his wife and former prime minister Benazir Bhutto, who was assassinated in a gun and bomb attack in Rawalpindi on December 27, 2007.


“My MS (Military Secretary) came to me and said, 'Sir, the war has started.' I had actually told him four days earlier that a war was going to happen. He said, 'Sir, let's go to a bunker (being a safe place)'... I said, 'If martyrdom is to come, it will come here. Leaders don't die in bunkers. They die on the battlefield. They don't die sitting in bunkers,” he said on Saturday.


India launched Operation Sindoor on May 7, targeting terror infrastructure in Pakistan and Pakistan-occupied Kashmir in retaliation for the Pahalgam attack that killed 26 civilians. The strikes triggered four days of intense clashes between the two countries and ended with an understanding to stop the military actions on May 10.


“Pakistan desires peace but remains fully prepared to defend itself,” Zardari said, while making claims about what he called Pakistan's “decisive stance” during the four-day conflict.


President Zardari also praised Army chief Asim Munir for what he called a “befitting reply to India” in the armed conflict in May.


The Pakistan Peoples Party (PPP) top leader claimed that the international community is now acknowledging Pakistan's stance and even US President Donald Trump had praised Munir.


He also claimed that it was PPP that made Munir the Field Marshal. “We, the PPP, made Gen Munir Field Marshal,” he said.


Zardari's son and PPP chairman Bilawal Bhutto Zardari also spoke on the occasion.


Nur Khan Airbase was a target: Dar

Pakistan's Deputy Prime Minister Ishaq Dar has admitted that India attacked its Nur Khan airbase in the early hours of May 10, in possibly a first-time admission eight months after the four-day armed conflict between the two countries.


Dar also said that Islamabad did not request mediation between Pakistan and India during the May conflict, but claimed that US Secretary of State Marco Rubio and Saudi Foreign Minister Prince Faisal bin Farhan expressed a desire to speak with New Delhi.


India launched Operation Sindoor on May 7, targeting terror infrastructure in Pakistan and Pakistan-occupied Kashmir in retaliation for the Pahalgam attack that killed 26 civilians.


The strikes triggered four days of intense clashes between the two countries and ended with an understanding to stop the military actions on May 10.


“As many as 79 of 80 drones sent by India were intercepted within 36 hours. India then made the mistake of attacking the Nur Khan Airbase in the early hours of May 10, prompting Pakistan's retaliatory operation,” Dar, who is also the foreign minister, said while outlining Pakistan's diplomatic engagements in 2025.


Dar said that on May 10, US Secretary of State Rubio called him at around 8.17 am, in which he conveyed that India was ready for a ceasefire and asked whether Pakistan would agree. "I said we never wanted to go to war,” Dar added.


He further said Saudi Foreign Minister Prince Faisal later contacted him seeking permission to speak with India and “subsequently confirmed that a ceasefire had been agreed.”


Dar also claimed that Pakistan shot down seven Indian jets during the May 7 air battle, without providing any evidence in support of his claims.


The minister reiterated Pakistan's position that lasting peace in the region is linked to a resolution of the Jammu and Kashmir dispute.

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