Sunday, October 26, 2008

Today Is Dhanteras, First Day of Diwali!

Diwali is here, but in a muted sense, today being Dhanteras, the worshipping of "dhan" meaning money and the buying of gold, silver, and precious metals. No deafening crackers that would shatter the ear, less colour, less parading of finery. Let's learn to be subdued. The market fell another 1000 points on friday, and we said "Oh, God, not again!"

There's a saying in the Bible, "Who lives by the sword, dies by the sword." The same goes to speculation, we guess. "Who lives by speculation, dies by speculation." The market was bloating like the mid-region of a properperous shetji these past few months and when time came to deflate the bowels with a well-deserved enema, all the shit came out.

Our wealth enjoying brother Dhansukhbhai is sad on Dhanteras. I say, "Kem cho bhai," and he doesn't even look up. Usually he is driven in his Toyota lexus to office, but today he is commuting by the humble local train. He can't afford a driver anymore, and is cutting costs.

"Bajar ma mandi che, thame nathi khabhar?" There's a depression in the market, don't you know. "But," we say, "You are responsible, no? The market moves in cycles of highs and lows, and you people mopped up the funds of a lot of people who lost during the lows, isn't that right?"

We notice the bags under his eyes, his hunched shoulders, his drooping lips, a picture of lonely agony, but his talk is bullish about the future. "I am saving every penny these days. Getting rid of bad stocks and buying only blue chips. You see, with reliance down to 1200 or so, I would definitely buy some more.

Guess he is right. Wasn't it Warren Buffet who said, "When the market is high be concerned and sell, and when the market is down, be happy and buy." Well, not his exact words, but something to that effect.

Happy Diwali, Dhansukhbhai!

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