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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.)

Tibet’s Future, Beijing’s Dilemma

Feb 11, 2025
3 min read

Updated: Feb 12, 2025

A jittery China ramps up its attacks on the Dalai Lama ahead of his 90th birthday.

Dalai Lama

For years, China has oscillated between portraying the Dalai Lama as an irrelevant relic of Tibet’s past and a dangerous ‘splittist’ who threatens its territorial integrity. But as the Tibetan spiritual leader nears his 90th birthday, Beijing appears to be growing increasingly anxious. A recent barrage of state-sponsored propaganda, spearheaded by China Global Television Network (CGTN), marks a notable escalation in its rhetorical offensive against the exiled Tibetan leader. The timing and tenor of these attacks reveal a deeper concern of the unresolved question of the Dalai Lama’s succession and China’s faltering grip on the narrative surrounding Tibet.


The Dalai Lama fled Tibet in 1959 after a failed uprising against Chinese rule, taking refuge in India. Over the decades, he has advocated for Tibet’s autonomy through his ‘Middle Way’ approach, which concedes that Tibet could remain part of China while securing genuine autonomy for its people. For a time, Beijing appeared to tolerate this stance.


Now, the latest barrage against the Dalai Lama comes from CGTN, China’s state-run English-language network, which recently released a flurry of articles and videos condemning him as a Western-backed separatist. Beijing had, in recent years, moderated its rhetoric, possibly in the hope that the Tibetan leader’s middle path approach, which accepts Tibet’s place within China while advocating for genuine autonomy, could be used to its advantage. That line of thinking appears to have been abandoned. The CGTN’s campaign is directed at an international audience, suggesting that China is no longer confident that its grip on the Tibet narrative is unchallenged.


China’s insistence that Tibet was ‘peacefully liberated’ in 1951 contradicts the historical record. In reality, the Chinese People’s Liberation Army invaded Tibet in 1950 and imposed the infamous Seventeen Point Agreement under duress. By 1959, growing discontent led to mass protests in Lhasa, culminating in the Dalai Lama’s flight to India. The Chinese state claims that the rebellion was orchestrated by a self-serving elite to preserve their privileges, but contemporary accounts tell a different story.


Beijing’s renewed hostility coincides with speculation over the Dalai Lama’s successor. In 2011, the Tibetan leader stated that he would clarify the future of his reincarnation when he turned 90. With that milestone approaching in July 2025, the Tibetan government-in-exile (Central Tibetan Administration, or CTA) has begun preparations for the Dalai Lama’s birthday celebrations. There is widespread speculation that he may soon make a major announcement on his succession, potentially identifying his reincarnation outside Chinese control.


China is desperate to prevent this. It has long asserted its right to oversee the Dalai Lama’s succession, even passing regulations in 2007 declaring that reincarnations of ‘living Buddhas’ must receive state approval. But Beijing’s claims are rooted in political expediency rather than religious legitimacy. Tibetans overwhelmingly reject China’s interference in their spiritual traditions, and should the Dalai Lama name a successor outside Tibet, Beijing’s attempt to install its own puppet figure will likely fail to gain credibility.


Adding to Beijing’s discomfort is India’s growing assertion along its Himalayan frontier. The deadly border clash in eastern Ladakh in 2020 exposed China’s military vulnerabilities while spurring India to accelerate infrastructure development in its border regions. Moreover, China’s push for the ‘sinization’ of Tibetan Buddhism has only reinforced Tibetans’ spiritual and cultural connections with India, where Tibetan Buddhism continues to thrive.


China’s attempts to delegitimize the Dalai Lama have done little to dent his moral authority. Even without formal support from world governments wary of antagonizing Beijing, his standing among Tibetans remains formidable.


Beijing’s aggressive posture suggests it is bracing for a future where it has no control over the Dalai Lama’s succession, and by extension, Tibet’s spiritual and cultural identity. The question is no longer whether China can suppress the Dalai Lama’s influence but rather how it will respond when the next chapter in Tibet’s struggle is written beyond its reach.

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