Rich People Don't Want You To Know This! Ft. @AbhishekKar | TJW-57

Shobha Rana・2 minutes read

Investing in the stock market requires skill and a long-term mindset, with luck playing a significant role in financial success. Wealthy individuals prioritize practical investments over flashy displays of wealth, focusing on simplicity and strategic choices.

Insights

Successful investors in the stock market attribute their achievements to strategic planning and a long-term outlook, emphasizing the importance of skill over luck in financial gains.
Wealthy individuals prioritize practical investments like appreciating luxury items and alternative assets, showcasing simplicity and value appreciation rather than ostentatious displays of wealth.

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How do wealthy individuals showcase their riches?
Wealthy individuals emphasize simplicity and practicality in choices.

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Summary

00:00

Navigating Wealth: Luck, Skill, and Mindset

Many people confuse luck with skill, especially in the market where lasting 8-9 years can lead to significant success.
Society is more status-driven than wealth-driven, with a focus on what others have rather than personal financial stability.
Wealthy individuals do not showcase their riches for show, emphasizing simplicity and practicality in their choices.
Investing in the stock market is often seen as a skill, with successful investors having a strategic approach and long-term mindset.
Basic books on stock market investing, like "Common Stocks Uncommon Profits" and "One Up on Wall Street," are recommended for beginners.
Developing a strong belief system and mindset is crucial for multiplying wealth and financial success.
Luck plays a significant role in financial gains, with preparation and timing being key factors in successful investments.
The journey to financial success involves navigating market cycles and developing skills over time, rather than relying solely on luck.
The concept of "the rich get richer and the poor get poorer" is discussed, highlighting the importance of mindset and belief systems in wealth accumulation.
Wealthy individuals focus on practical investments, like luxury watches that appreciate in value over time, rather than flashy displays of wealth.

13:31

Wealthy invest in watches, art, yachts, stocks.

Wealthy individuals invest in expensive watches as an alternative investment, not merely for show.
Art lovers are willing to pay exorbitant amounts for renowned artists' works, such as MF Hussain's paintings.
Owning a yacht signifies a wealthy status, with the ability to host lavish parties onboard.
International waters provide a safe haven for mega yachts, shielding them from internal agencies.
The stock market is viewed with fear due to historical events like the 1929 US market crash and the dot com bubble of 2000.
Mutual funds saw significant returns between 1997 and 2000, particularly in sector-specific IT funds.
Stock market fears were exacerbated by crises like the Lehman Brothers collapse and various scams in India.
Cardiac patients in 2008-2009 were predominantly stockbrokers, indicating the stress associated with stock market investments.
Spirituality plays a significant role in financial decisions, with some communities heavily investing in the stock market due to religious beliefs.
Manifestation practices can aid in financial goals, but action is crucial alongside positive thinking to achieve long-term success.

26:26

"Mindful Reading for Financial Success"

The speaker discusses the importance of reading and maintaining a positive mindset to achieve goals.
Emphasizes setting big but reasonable goals, focusing on incremental progress.
Shares a personal anecdote about intuitive decision-making leading to a successful investment.
Warns against the pitfalls of excessive hustle culture and burnout, advocating for balance and patience.
Highlights the negative impact of impulsive buying driven by emotions on financial stability.
Suggests content creation and monetization as a more sustainable investment compared to impulsive spending.
Criticizes extravagant spending on weddings and the emotional decisions behind it, urging for financial prudence.
Advocates for mindfulness practices, spirituality, and data-driven decision-making to counter emotional impulses.
Cites examples of successful individuals like Warren Buffett and Elon Musk who prioritize financial stability over emotional spending.
Encourages self-awareness, spirituality, and data-driven decision-making for long-term financial security.

38:54

India's Economic Growth and Investment Potential

The increase in digital awareness in India has led to more people engaging with the internet and online courses.
Despite issues like scams and corruption, India's economy is seen as a viable market for investment, with a current value of approximately $3 trillion.
India's economy is projected to grow to $9 trillion in the next 8 years, with a significant contribution from the demographic dividend of its young population.
The demographic dividend in India, driven by its youthful population, is seen as a key factor in the country's economic growth and prosperity.
India's growth phase, in contrast to the stagnation in the US and UK, presents investment opportunities, especially in tier two and tier three cities.
The shift of manufacturing and API production from China to India has already begun, driven by factors like FDI regulations and cheap labor.
The next 25-30 years are predicted to be prosperous for India, with significant growth potential and scope for innovation.
The importance of remaining loyal to investments based on the promoter's actions and business potential is emphasized, especially during market fluctuations.
Investing based on common sense and simplicity, rather than complex strategies, is highlighted as a successful approach.
The importance of maintaining balance across various aspects of life, including physical, mental, emotional, financial, and social well-being, is stressed for overall success and stability.

52:17

"Mindset, Money, and Success: A Holistic Approach"

Understanding the importance of mindset in achieving goals and happiness, emphasizing the role of balance and money in this process.
Highlighting the different mindsets towards money in various societies, comparing the West's focus on wealth accumulation with India's more recent shift towards instant gratification and investment.
Discussing the generational differences in mindset towards money, with younger generations being more enterprising and risk-taking, focusing on investments and new asset classes like cryptocurrencies.
Exploring the evolving mindset towards finance and success, emphasizing the importance of defining success on personal terms rather than societal standards based solely on material wealth.
Emphasizing the significance of enjoying the process and journey towards success, rather than solely focusing on reaching the end goal, encouraging continuous learning and growth.

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