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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.)

Thousands turn out to welcome ‘Madhuri’ home

Writer: Rajendra Joshi
Rajendra Joshi
6 hours ago
3 min read

Kolhapur: After 409 days away from home, Madhuri, the elephant belonging to the Swastishri Jinsen Bhattarak Pattacharya Sansthan Math at Nandani in Shirol taluka, finally returned to the monastery on Friday night, bringing an outpouring of emotion among residents of Nandani and neighbouring areas.


Thousands of people from across communities gathered to receive the elephant, with many visibly moved to tears. The return of Madhuri, also known as Mahadevi, followed a 1,160-km journey from Vantara’s elephant rehabilitation centre in Jamnagar, Gujarat.


She was transported in a specially equipped animal ambulance that left Jamnagar at 7.17 pm on Thursday. Accompanied by the Vantara team and a medical crew, the convoy travelled through Vadodara, Surat, Vapi, Navsari, Vasai, Virar, Thane, Pune, Satara and Karad before reaching Nandani after nearly 32 hours.


At Gandhi Chowk in Nandani, thousands waited for her arrival. Drums and traditional dhol-tasha beats, flower showers and chants filled the streets as the convoy passed through the town. People lined both sides of the road merely to catch a glimpse of Madhuri. The celebrations also briefly affected traffic on the Pune-Bengaluru highway.


Former MP Raju Shetti was among those who welcomed her, while MLAs Rajendra Patil-Yadravkar and Rahul Awade, Datt Group chairman Ganpatrao Patil, and former MLAs Ulhas Patil and Prakash Awade were also present.


A specially prepared floral and fruit arrangement awaited Madhuri near her newly created residence. Banana bunches, papaya, beetroot, apples, oranges, sweet lime, sugarcane, watermelon, pomegranate, pineapple and other fruits were arranged along the route. Citizens also distributed sugar and jaggery and decorated the approach roads with colourful rangolis.


The final arrival at the monastery was an emotional moment. Madhuri was brought down from the transport vehicle and entered her newly constructed accommodation amid religious rituals and chants. The monastery’s religious heads, including Swastishri Jinsen Bhattarak Pattacharya Mahaswami, Swastishri Dharmasen Bhattarak Pattacharya Mahaswami and Swastishri Laxmisen Bhattarak Pattacharya Mahaswami, formally welcomed her.


Vantara Routine

Madhuri was among 376 elephants housed at Vantara’s rehabilitation centre in Gujarat. Two mahouts were assigned to her care. Her daily routine included feeding in the morning, a walk, food and fruits, cleaning and time in the swimming tank. She was given wet and dry fodder and water during the day, followed by another walk in the evening and fruits and fodder at night. A veterinary team regularly monitored her health.


‘Kolhapur has made it happen’

The return follows a prolonged legal and public campaign. After a High Court order resulted in Madhuri being shifted to Vantara, the Nandani Math approached the Supreme Court. The campaign subsequently received support from people across communities, while Shetti led a major public mobilisation.


The eventual return of Madhuri has been described by supporters as the result of sustained efforts by the Nandani Math, citizens of Kolhapur and neighbouring districts, and the wider public response across Maharashtra and beyond.


Strict Conditions

The permission for Madhuri’s return was granted following approval by the high-powered committee. Under the conditions, she will not be made to perform any work. She will receive round-the-clock care and undergo a health examination every 15 days. Vantara’s veterinary department will assist with medical examinations and treatment whenever required.


A 40-member Vantara team reached Nandani on Friday to assist with her care and ensure a smooth transition.


More than 27 police officers, over 100 police personnel and more than 70 home guards were deployed to maintain law and order during the homecoming.


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