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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.)

Pedigreed Hypocrisy

Sep 2, 2025
2 min read

South Mumbai likes to imagine itself as the custodian of Mumbai’s heritage. Its colonial facades, art deco apartment blocks and seafront promenades are presented as the city’s irreplaceable crown jewels. Yet, each time a new project is proposed, residents of these gilded enclaves discover reasons to resist. For them, development is fine so long as it is built in someone else’s backyard.


The latest tantrum concerns a jetty at Colaba. The Supreme Court has dismissed a petition against the project. South Mumbai Residents, banding together under the banner ‘Shift Jetty, Save Colaba’ had been staging protests by invoking marine ecology and heritage preservation.


The State government has long argued that the facility was a crying need for 25 years as the existing jetties near the Gateway of India are inadequate to handle commuter traffic. Passengers must often hop precariously from one vessel to another in choppy waters, risking accidents. Chief Justice Gavai, while dismissing the petition, observed that the issue could not be seen only from the perspective of nearby residents.


This hypocrisy on part of South Mumbai’s elite is hardly new. South Mumbai residents enjoy the best schools, the plushest clubs and property values that rise inexorably. Their children grow up with every urban advantage that collective investment has conferred. Yet they behave as if civic development were a zero-sum game: every metro pillar, jetty or station that comes up in their vicinity is deemed an intolerable intrusion. The price of their obstinacy is paid by millions of ordinary commuters who endure suffocating trains, collapsing bridges and endless traffic jams so that a few can preserve their sea-facing tranquillity.


London has dug metro lines under Georgian squares; Paris has bored tunnels beneath Haussmann boulevards; New York has extended subways under century-old brownstones. Yet South Mumbai residents invoke ‘fragile heritage’ as if colonial facades must forever be treated as holy relics. At the same time, slum-dwellers elsewhere are told to accept displacement as the unavoidable price of progress. The irony is that South Mumbai’s own exclusivity was built on collective infrastructure. The old docks, railways and business districts that created its wealth were public projects. Today, when the State proposes to extend the same principle to water transport or mass transit, the beneficiaries cry foul. Their protests are dressed in the garb of environmentalism and heritage protection, but the real motive is to freeze their neighbourhood in amber while the rest of Mumbai sweats and heaves.


To block change on principle is to turn Mumbai into a museum curated by elites who want modernity without the inconvenience of sharing it. Mumbai is a city of toil, powered by millions who pour in daily from the suburbs. They are compelled to endure the city’s infrastructural chaos so that South Mumbai residents can sip cocktails in colonial clubs while railing against a jetty that might save lives. This is pedigreed hypocrisy and Mumbai can no longer afford it.


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