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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.)

Indian-origin college student from US dies in Bahamas

PTI
May 14, 2025
2 min read


NEW YORK: An Indian-origin college student from the US died in the Bahamas after accidentally falling from a hotel balcony just days before he was set to graduate.


Gaurav Jaisingh was a student at Bentley University, Waltham, Massachusetts and was in the Bahamas for an annual senior class trip when he died in the accident on Sunday.


Jaisingh was set to graduate later this week.


Bentley University said in a post on X that it's been a difficult few days and our community is feeling the emotional toll of the tragic loss of Gaurav Jaisingh '25.


Our hearts go out to Gaurav's family and friends.


We plan to honour Gaurav at the undergraduate commencement ceremony, scheduled for May 17.


According to a report in ABC News, Bentley University said in a statement that we share our deepest condolences with Gaurav's family, friends and loved ones.


While local authorities are investigating, it appears Gaurav accidentally fell from a balcony.


We will share more information when available while respecting his family's privacy.


This is an enormous tragedy for our community.


Bentley is providing resources for those who are impacted and encourages anyone who needs support to reach out to the university's counseling center, it added.


The ABC News report said that Jaisingh was a native of Shrewsbury, Massachusetts and was a member of Delta Sigma Pi fraternity as well as the school's South Asian Students Association.


The Royal Bahamas Police Force said in a statement that on May 11, police launched an investigation into the circumstances surrounding the death of an adult male on Paradise Island.


According to initial reports, the police said that sometime around 10 pm, the victim was inside his hotel room with other roommates when it is reported that he accidentally fell from an upper-level balcony.


He was later found unresponsive on a lower floor.


Police said emergency medical services responded and transported him to the hospital but he succumbed while enroute.


Police said investigation into the incident remains ongoing.

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