Ganesh Chaturthi 2021: Tips And Myths For Young Investors
Ganesh Chaturthi 2021: Lord Ganesh is considered as a symbol of good fortune, wisdom and intelligence.
September 10 marks Ganesh Chaturthi or Vinayaka Chaturthi this year. This day is celebrated as the arrival of Lord Ganesh to earth from Kailash Parvat (Mount Kailash). According to Hindu mythology, it is believed that the arrival of Ganpati (Lord Ganesh) removes all obstacles from our paths to success. The elephant-headed Lord is considered as a symbol of good fortune, wisdom and intelligence. Ganpati is popularly known as Vighnaharta (divine dispeller of hurdles and hindrances). The word Chaturthi means the fourth day of the Bhadrapada (sixth month of the Hindu calendar -- Bhadon) month.
Here are some tips for young investors:
* As per Hindu traditions, Lord Ganesh is always prayed to before starting any auspicious work. He is revered as the God of beginnings. So, those who want to start investing in markets may use it as a positive sign.
* There's a very popular story of Lord Ganesh which tells us how he won a competition against his younger brother Karthikeya. Lord Shiva asked his sons to take three rounds around the world and the one who finishes first would receive a special fruit of wisdom and knowledge.
The race began and Karthikeya climbed on his peacock and set off to take the rounds around the world, but Ganesha asked for permission of his parents to revolve around them as he considered them as his universe. This wise decision made Lord Ganesh won the fruit.
This implies that while investing in stock markets, it is very much important to take wise and timely decisions.
* There's another interesting story that included King Kuber, the Lord of wealth and Lord Ganesh. Kuber was very proud of his wealth and once he organised a feast and invited all the Gods at his palace. Lord Shiva and Parvati decided not to visit and sent Ganesh instead.
Lord Ganesh visited the palace and ate all the food he had prepared for the Gods, forcing Kuber to seek forgiveness for his ego.
This tells us that one must not get carried away during a sharp rally or plunge in stock markets.
* Lord Ganesh's big ears signify good listening skills while his elephant head indicates an open mind. Investing also requires intellect and wisdom.
And, here are the some common myths:
* Some believe that stock market investment are all about luck. No, it's not only luck. One must also understand a stock or a fund before investing. Some of the important parameters before investing include understanding the debt to equity ratio of a company, studying dividend sharing pattern and annual reports.
* Few also believe that investments aren't for common investors. This one's a complete myth as anyone with a trading account can start investing in the stock markets.
* Many say equity investments are extremely risky. Yes, there's an element of risk involved, but an investor must know the difference between risk and volatility. For instance, stock markets plunged heavily during the Covid-19 first wave last year, however, indices made a strong comeback and are currently at their record highs.
* Some also say it's all about timing. But, it's not just all about timing, there are many funds or stocks which have delivered strong returns in the long run. It is also important to take professional advise while investing.