Stocks
Moneylife launches Investor Club
Prof Sanjay Bakshi, professor and value investor, wows the 600 people present at BSE with a scintillating and thought-provoking presentation
 
Moneylife Smart Savers, a SEBI-registered investment adviser and part of the Moneylife group, launched Moneylife Investor Club on 23rd January 2016 at the International Convention Hall, Bombay Stock Exchange (BSE). The event was supported by BSE and Kotak Securities. The first event of the club was a remarkable presentation by Professor Sanjay Bakshi on the consequences of our risk-seeking behaviour, which can lead to huge losses for us. The event was graced by a packed audience of nearly 600, which was testimony to first, the enormous popularity of Professor Bakshi, second, to so many people being interested in long-term investing and third, to the wide reach of Moneylife. Though the event was in Mumbai, people from different parts of the country such as Pune, Hyderabad, Secunderabad, Dehradun, Bengaluru, Goa and Chennai had come down to attend. 
 
The session started with Sucheta Dalal, director of Moneylife Smart Savers explaining the planned objectives of Investors Club. The Club will promote long-term investment, encourage participants to think for themselves independently through seminars workshops and case studies. It will not offer trading and investment tips, she explained. After making a few opening remarks, Ms Dalal invited Mr Ashish Chauhan, Managing Director (MD) and CEO of Bombay Stock Exchange (BSE) to say a few words. Mr Chauhan remarked that somewhere down the line, with television and media, we have become very much trading-oriented. 
 
He remarked that despite all the transparency and efficiency of transactions that we have been able to generate, we have not been able to get more and more investors into the market somehow. In 1994, we had more investors than we have today. From 1994 to 2016, the middle class has grown by around 10 times. However, the number of investors has come down. He also mentioned that while BSE used to be ‘democracy of the brokers, by the brokers and for the brokers (in other words a brokers’ club), today it is a professional organisation which does not have a single broker on the Board. He offered his best wishes to Moneylife Investor Club and promised to support the club in its objectives. BSE is also supporting many other such initiatives across the country.
 
Mr Chauhan’s remarks were followed by an introduction by Debashis Basu, director of Moneylife Smart Savers, of Prof. Sanjay Bakshi. He sketched out Prof. Bakshi’s remarkable journey as an investor and teacher between 1994 (when he came back from UK after studying at the London School of Economics) and 2005 and invited Prof. Bakshi to give his presentation. Before the start of his presentation, Prof. Sanjay Bakshi thanked Moneylife for inviting him and called Ms Dalal and Mr Basu fearless and ethical. He gave a scintillating talk based on his personal experience of investing over 21 years during which he learned what not to do as a result of painful direct experiences as well as vicarious experiences. Through video clips, images, charts and innumerable stories, and loads of humour, his key message was that we should always try to avoid risk-seeking behavior. 
 
Moneylife Investor Club is hoping to conduct its second session on 20 February 2016 when R Balakrishnan, one of the co-founding members of CRISIL, and one who has over 30 years experience in banking, credit, mutual funds and capital markets, will speak on how to read a balance sheet for investment. 
 

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COMMENTS

BIPIN SAVLA

10 months ago

can we have prof. bakshi's video

Pushpesh Kumar Sharma

10 months ago

how can i be a member of this elite club?
pushpesh, bathinda, punjab

Sanjay Prajapat

10 months ago

I am from Surat, and we were a group of 8 fans of Professor who attended the session at BSE.Extremely delighted to meet and listen Prof. Bakshi. Thank you Sucheta Mam for bringing to us this opportunity.

SUNDARESAN

10 months ago

Good morning madam I am from chennai . I am also subscriber of money life once dvd released kindly indicate in mail or your website.




Suketu Shah

10 months ago

All moneyclub events shd be available via video at the same cost as a visitor so that those who cannot attend can watch it later on (however at the same price)

Loved Mr Bakshi's no-risk theory.Dead right not in stocks but in everything in life.

Ramesh Mehta

10 months ago

Kindly provide option to pay and watch video of the event. It would be greatly beneficial to people like me who wanted to attend but could not attend.

Thanks a lot
Regards,
Ramesh

Jason Dsouza

10 months ago

Excellent start indeed! Enjoyed it immensely. Look forward to the 20th Feb event.

REPLY

Sucheta Dalal

In Reply to Jason Dsouza 10 months ago

thank you

R Balakrishnan

10 months ago

Lot of people want access to the video. Suggest that this be made available at a fee, say equivalent to the session. Uploading it free is unfair to the audience who paid for it

REPLY

kamalakkannan duraikkannu

In Reply to R Balakrishnan 10 months ago

Agreed.

Sucheta Dalal

In Reply to R Balakrishnan 10 months ago

I agree.

And I do think we give value to ML subscribers already... after all, we know how much we sacrifice in terms of revenue to remain independent :-)

Anand Vaidya

In Reply to R Balakrishnan 10 months ago

You could make the video available for free to ML Subscribers and for fee for everyone else.

kamalakkannan duraikkannu

10 months ago

can we have access to this event video?

Thanks,
kamal.

RAMESH VASWANI

10 months ago

People are nowadays more interested, which scrip is going to give maximum returns in minimum period and they are aware that the price of many scrips have no relations whatsoever with its balance sheet or ratios or charts. It is rather some cartels in the market, who take these scrips higher or lower and create artificial hype.

REPLY

Sucheta Dalal

In Reply to RAMESH VASWANI 10 months ago

May be... but there were nearly 600 people in that room and many had come from Chennai, securderabad, goa, pune, ahmedabad, vadodara , Dehradun, Delhi and Bengaluru! So I guess there is a lot of interest in value investing too. And in hearing the fundoo professor Sanjay Bakshi!!

Ashish M

10 months ago

Even though I paid for the event, I couldn't make it due to other urgencies. Will this session be made available on any online platform as well.

REPLY

Sucheta Dalal

In Reply to Ashish M 10 months ago

Do write to MSSN.... if you paid and could not attend, we will surely ensure you get a copy of the session. We are more likely to create DVDs for a price and not load it online. As R Balakrishnan says, it would be unfair to those who paid to attend!

Ashish M

In Reply to Sucheta Dalal 10 months ago

Thanks a lot. I have sent an email to support ID.

Hoping for a positive response.

President urges innovative handling of rising tax cases
New Delhi : President Pranab Mukherjee on Sunday said the growing number of tax disputes in India and the amount involved call for innovative tax litigation management to contribute to further ease of doing business in the country.
 
"With the development of Indian economy, the direct taxes and number of tax payers have increased manifold, which have put pressures on the tax dispute redressal system," Mukherjee said while inaugurating the platinum jubilee celebrations here of the Income Tax Appellate Tribunal.
 
"The rising trends in tax disputes and the quantum involved in tax litigations, call for an innovative tax litigation management system," he said.
 
"Through speedy justice, consistent orders, fair approach and business-oriented litigation management system, you can contribute to the growth story of India, which is unfolding itself," he told the tax appellate body officials.
 
The president said tax dispute resolution is an integral component of the ecosystem for promoting investments and attracting business.
 
"As per World Bank Group 2016 report, India is ranked at 130 in the ease of doing business. This status must be improved," he said.
 
Mukherjee also said the rising number of disputes call for trained manpower in both the tax department as well as tax judiciary to keep India globally competitive in the tax judicial system.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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COMMENTS

Ganesh Kamat

10 months ago

GST / TAX SIMPLIFIED & Reforms.

1) For Big Tax collections
take 1% Tax from 20 Taxpayers
than 20% Tax from one Taxpayer.

2) Simple Tax of 1% on Receipt /Transaction /Interest /Sale /Gift /Loan /Benefit /Salary /Dividends /Rent /Custom.....
any & all inward cash, Cheque etc.

3) Average say on Rs 30 L Receipt,
Pay Rs. 0.3 Lac Tax per year.
If Taxpayers = 60 Cr.
Tax collection will be 18 L- Cr.

4) Simple Tax means more Taxpayers, more collection & No refund Problem.

5) At present, we have say @ 3 Cr Taxpayers,
with Collection of say @ 3.5L-Cr,

6) So with 1℅ Tax, the Taxpayers will work to improve Business / Goods Services/ R. & D. / Social work.
So more Employment, make in India, less Farmer Suicide & Peace of mind to the people.

7) Bank Account number is your mobile number.

8) Tax payment by your mobile number @ RBI a/c,
In bank transaction, the Bank will deposit your 1℅ Tax by your mobile number @ RBI a/c directly.

9) For cash Transaction pay similar to Post paid Mobile charges,
to your mobile number @ RBI a/c.
Most will pay if the Tax is 1% & simple to pay.

10) Your Bank Account Number should be mobile number & connected to PAN/ AADHAAR /Passport/ Election Card etc. For Simplicity.

11) Tax collection will be distributed to State & Local bodies, say 10 % each, from the place of collection.

12) Also add 1% more (L.P.F.)
Less Privilege Fund,
similar to PPF for,
social / self benefit,
to give Power to the people for Social Cause / in your bad days.

13) In short Pay Rs. 20- for every Rs. 1,000- Received.

i) Rs. 10- as tax to RBI
ii) Rs. 10- in your (L. P. F.) a/c. Could be use for social cause/ for your bad days.

14) L. P. F. (Less Privilege Fund)
of 18 L- Cr, with 60 Cr voters, will reduce dependency on the Government for the Social development. Fund will be used for the Social cause / in your bad days.

15) Keep faith in 60 Cr voters, as they will take care of their neighbours, in need.
Also most will pay, if Tax is 1℅ & Simple to pay.
Only Indian can make better India.

16) Can consider more tax for Higher Receipt, say above 0.5 Cr per year, payable at the year ending.

17) All Transactions are Traceable as mobile number is once Bank a/c number & connected to PAN/ AADHAAR / Election card.....
So, No Corruption & Black Money Problem.

18) Babus Harassing the youth,
Traders,Farmers, Voters.. who wants to work.
Babus are ruthless as they
pay "Protection Money" to......?
for Posting/ Promotion/ Permit...
Administrations Reform is a Must,
For getting Votes too!!

19) Farmers suicide can get reduced, by encouraging them to sell their farm products on Railways to commuter & roads to motorists, also we need more Passenger Train, to help farmers to sell farm products, to nearby Towns.

20) Expecting Feedback on How to make India Peaceful Place by Refined, Simple Laws.
No blame game please.
Media/ Babus /Netas /Judicial Role is Eminent along with People.

For "Sare Jaha Se Achha Hindustan Hamara." forward this message.

Gold monetisation scheme: Banks to get 2.5 percent commission
New Delhi : The government will pay banks a 2.5 percent commission for mobilising gold under the gold monetisation scheme and depositors will be permitted premature withdrawal of the precious metal deposited, an official statement said on Sunday.
 
“The banks would be getting a 2.5 percent commission for the scheme which will include the charges payable to the collection and purity-testing Centres/Refiners," the finance ministry said in a statement on the gold monetisation scheme.
 
"It is expected that the modifications will make the scheme more attractive for potential depositors," it said. 
 
As per the revised guidelines, the government will pay participating banks a fee services like gold purity testing, refining, storage and transportation on medium and long term gold deposits.
 
Premature redemption have been now permitted under medium and long-term government deposits.
 
The monetisation scheme encourages individuals, households and temples to deposit gold jewellery or bars with banks or collection agents. The gold deposited would be later refined for domestic purpose and would help cut dependence on imports.
 
"Any Medium Term Deposit will be allowed to be withdrawn after three years and any Long Term Deposit after five years. These will be subject to a reduction in the interest payable," the statement said.
 
Besides, gold depositors can now give the metal directly to the refiner, instead of only through the Collection and Purity Testing Centres (CPTCs). 
 
"This will encourage the bulk depositors, including institutions, to participate in the scheme," the statement added.
 
The finance ministry said the gold monetisation scheme, launched by Prime Minister Narendra Modi last November, provides for tax exemptions on interest earned on the gold deposited and exemption from capital gains made through trading or at redemption.
 
Bureau of Indian Standards (BIS) has modified the licensing condition for refiners from the existing three years of refining experience to one year towards making the scheme more attractive, it added. 
 
"BIS has published an Expression of Interest (EOI) on its website inviting applications from more than 13,000 licensed jewellers to act as a CPTC in the scheme, provided they have tie-up with BIS licensed refiners," the statement added.
 
The government has mobilised around 900 kg of gold in over two-and-a-half months' time through the scheme, which pays depositors interest of up to 2.50 percent per annum.
 
In an effort to make the scheme more customer-friendly, the Reserve Bank of India (RBI) said earlier this week that depositors will be able to withdraw medium-term (5-7 year) and long-term government deposits (12-15 years) pre-maturely after the minimum lock-in period, albeit with a penalty.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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COMMENTS

Nanda Patel

10 months ago

banks get 2.5%(at a go) and you as a depositor get 2.5% a year and taxable!

do you really want to take a change. what if government changes the rules after you make your gold deposit.

Look at PSU.. why would one take that huge of risk.

MG Warrier

10 months ago

The quick response from GOI and RBI to stakeholders’ sentiments make the chances of survival and success of the three gold schemes under implementation (Sovereign Gold Deposit Scheme, Gold Monetisation Scheme and Gold Coin Scheme) brighter. After decades of hesitant approach to gold management, India is now exhibiting the country’s determination to exploit the past savings idling in the lockers of families, institutions and religious centres, and bring them to the mainstream economy, to which gesture, people are responding positively.
The initiative taken by GOI to exploit the potential of domestic gold stock to country’s advantage, if pursued with will and determination, will have a great impact on the growth story of India. When credibility in the government’s ability to manage country’s resources without leakages is restored, temples and other institutions with whom large stock of the yellow metal lie idle will plough it back to mainstream economy. That is their interest also.
Centre is yet to institutionalise a system to manage country’s gold stock. Let us wait for the Budget 2016-17, for a formal announcement on this. RBI should quickly revisit the 1990’s proposal to establish a Gold Bank which can, as an apex body, coordinate the demand and supply sides of gold management professionally.

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