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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.)

Trial By Fire

Writer: Abhijit Mulye
Abhijit Mulye
Nov 11, 2024
2 min read

Updated: Nov 12, 2024

Chandrashekhar Bawankule

Maharashtra BJP President Chandrashekhar Bawankule’s meteoric rise in the state politics is a mesmerising story of the success of democratic process and how even a common man can make to the top in a democracy.


Chandrashekhar Krishnarao Bawankule, born on January 13, 1969, in Koradi near Nagpur had completed his graduation in Science, but had no means to run the family and hence had started running auto-rickshaw on the Koradi-Nagpur road. He has a natural knack to connect with the people and this very skills carved a labour leader out of him. He use to chit chat with the labourers he use to ferry to and from the Koradi thermal power station which made him aware of their real issues and the exploitation they were facing. He built their union and fought for their rights.


Bawankule’s political journey began in the early 1990s when he founded the “Chhatrapati Sena,” a social organization aimed at addressing local issues. His dedication to social work caught the attention of senior BJP leaders, and in 1995, he joined the Bharatiya Janata Party under the mentorship of Gopinath Munde and Nitin Gadkari. He quickly rose through the ranks, becoming the Vice President of the Bharatiya Janata Yuva Morcha, the youth wing of the BJP in Maharashtra.


In 2004, Bawankule was elected to the Maharashtra Legislative Assembly from the Kamthi constituency defeating senior Congress leader Mukul Wasnik. The party had no good face to field from the constituency and was considering it as a lost seat and hence Bawankule was fielded from the constituency. However, his victory came as a pleasant surprise for the party and it raised his stature within the party. He successfully retained his seat in the subsequent elections in 2009 and 2014. His tenure as an MLA was marked by his focus on development and infrastructure projects in his constituency


Born into a Marathi Teli family Chandrashekhar Bawankule grew up in a farming family with no prior political background. His political acumen and leadership skills earned him several key ministerial positions in the Maharashtra government. From 2014 to 2019, he served as the Minister for Energy, New and Renewable Energy. During his tenure, he was instrumental in implementing various energy projects and reforms aimed at improving the state’s power infrastructure.


In 2019 assembly election he was denied party ticket owing to come corruption charges. However, later he was sent to legislative council and in August 2022, Chandrashekhar Bawankule was appointed as the President of the state BJP.


As the state president of the BJP Bawankule has a herculean task to deliver a desirable result for the party on the backdrop of its under performance in the Lok Sabha elections. If he could deliver his status in the party would rise. A failure will confine him to Nagpur only.

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