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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.)

State braces for the final war on Maratha quota

Quaid Najmi
3 hours ago
3 min read

Mumbai: After a high-profile indefinite hunger strike, Shivba Sanghatana chief Manoj Jarange-Patil sounded the bugle for the ultimate ‘decisive’ war against the Maharashtra government for Maratha quotas with a mammoth marathon march to Mumbai next week.


Jarange-Patil, who launched the current fast-unto-death from August 29, accused the Mahayuti regime of failing to provide a concrete solution to the Maratha community’s demands despite multiple opportunities, but grimly stated that “this time the Marathas will not backtrack merely on the basis of assurances”.


“The government responds only when we apply pressure. ‘Naak dablyashivay, tond ugdhat nahi’. This will be a conclusive action. If the government still fails to heed, then we shall launch an indefinite hunger strike at Azad Maidan from Sep. 19. I don’t care even if my life goes,” he thundered in his native Antarwala-Sarati village, at times becoming emotional, while emphasising that ‘democratic protest was his right’.


Seemingly rattled as the Maratha morcha would land in Mumbai at the height of the 12-day long Ganeshotsav festival, state ministers said that around a dozen of the demands have already been conceded while the remaining three which have Constitutional ramifications are being looked into.


Unfazed, Jarange-Patil reiterated his known stance on the prime demands – including ‘sage-soyare’ (blood relatives) linked with the Maratha-Kunbi reservation issue and implementation of the 58-lakhs Kunbi (OBC) records found in old government records in different districts and even Hyderabad (Telangana).


Historical Documents

He has demanded that when historical documents establish the Kunbi links, eligible Marathas should be entitled to get Kunbi certificates, emphasising “decision means implementation”, and the community would not be satisfied with mere assurances, announcements or committees.


Addressing a huge gathering this afternoon, Jarange-Patil appealed to the Maratha women to join the Mumbai march in large numbers to safeguard the future of the gen-next. “The Maratha sisters must visit the homes of Amruta Devendra Fadnavis and Lata Eknath Shinde, hold a ‘haldi-kumkum’ ceremony and request them for Maratha quotas,” he exhorted.


This cultural-political onslaught came just a couple of days after Amruta publicly invited Jarange-Patil for dinner at the CM’s official bungalow ‘Varsha’ – which he accepted with conditions – and willy-nilly sought to capitalise on the Mahayuti’s ‘Ladki Bahin’ initiative for Maratha reservations through the wife of CM Devendra Fadnavis and the wife Deputy CM Eknath Shinde.


Repeatedly stressing that the march to Mumbai would be “absolutely peaceful” with no intentions to disrupt the state’s biggest public festival Ganeshotsav, Jarange-Patil also warned the government to refrain from stopping the Marathas. “Don’t get provoked, if they put up barricades, don’t touch them, sit and protest there. Come in a disciplined manner, don’t argue with the police and avoid any form of violence,” was his mantra for success.


Incidentally, the Bombay High Court this week declined to prevent Jarange-Patil from coming to Mumbai but said the state government must take suitable action to ensure that law-and-order is maintained. The administration has indicated that no protest will be permitted without relevant prior permissions, but the Marathas’ response was not clear.


Marathas’ Grand March
Manoj Jarange-Patil announced a detailed 5-day itinerary for the ‘final battle’ for quotas, passing through Marathwada, western Maharashtra and the prosperous Pune-Mumbai belt, with thousands slated to join en route.

Starting from Antarwali-Sarati on Sep. 15, he will reach Patoda on Sep. 16, proceed to Shrigonda on Sep. 17, reach Hadapsar on Sep. 18, and starting from Khopoli will enter Mumbai and set up camp at Azad Maidan on Sep. 19 – coinciding with ‘Gauri Visarjan’ and the half-way mark of Ganeshotsav.

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