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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.)

Raj Thackeray’s Political Dance

Writer: Kiran D. Tare
Kiran D. Tare
Oct 23, 2024
2 min read
Raj Thackeray

With Maharashtra’s Assembly elections looming, a political shuffle is taking shape in Mumbai. At a high-profile meeting held in a five-star Mumbai hotel on Monday, Chief Minister Eknath Shinde and Deputy Chief Minister Devendra Fadnavis reportedly held a closed-door discussion with Maharashtra Navnirman Sena (MNS) chief Raj Thackeray, reportedly over seat-sharing arrangements in key constituencies like Shivdi, Worli and Mahim.


Despite unconditionally backing the Mahayuti in the Lok Sabha election, Raj had recently announced the MNS would contest the Assembly election on its own. However, there appears to be a tacit understanding that the Mahayuti parties, especially the Shiv Sena led by chief minister Eknath Shinde and the BJP, would be strategically backing the MNS candidates in key Mumbai seats to defeat the rival Shiv Sena (UBT) led by Uddhav Thackeray, Raj’s estranged cousin.


Raj’s son, Amit Thackeray, is expected to make his political debut in Mahim, a constituency contested by MNS leader Nitin Sardesai in the past. One of Mahim’s neighbouring constituencies is Worli, where Uddhav’s son, Aaditya Thackeray, is expected to defend his seat. In September, Raj had held a rally in Worli, where he tried to rouse nativist sentiments by calling on the ‘sons of the soil’ to stand up for their fundamental rights.The rally had coincided with the unveiling of the MNS’s ‘Vision Worli’ a strategic move to ostensibly counter Aaditya Thackeray’s programme.


By supporting Raj indirectly, the Mahayuti hopes (as it always has) to use MNS as a tool to split the Marathi vote and weaken Uddhav’s Shiv Sena (UBT). 


Despite the MNS not having a single MLA or MP across Maharashtra, the BJP has always hoped to make use of Raj’s still extant Marathi-speaking vote-bank not just in Mumbai, but in Thane and Nashik to challenge the Sena (UBT) in wake of Muslim, Christian and Dalit voters gravitating towards Uddhav Thackeray since the latter’s alliance with the Congress and Sharad Pawar.


The MNS’ twin debacles in the 2014 parliamentary and Assembly elections left the party in utter disarray, with the slide continuing through the 2017 civic election as well as the 2019 State and national elections. Following its rout in the 2019 Assembly election, an atrophied MNS had changed its ideological direction from its nativist stance by veering towards Hindutva politics.


The MNS’ about-turns have compounded its woes. In 2014, Raj endorsed Prime Minister Modi, only to campaign fervently against him in the 2019 general elections, aligning himself with the NCP. Ahead of the Lok Sabha, he returned to giving unconditional support to Modi by campaigning for the Mahayuti. His constant political oscillations have caused confusion within his ranks.


That said, for Shinde and the BJP, having a Thackeray on their side, even tacitly, offers a symbolic boost in their battle with Uddhav for the supremacy of Mumbai.

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