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I am writing this series of letters on the art of investment, addressed to a young investor, with the aim to provide timels wisdom and practical advice that helped me was starting out. My Goal is to Help Young Investors Navigates of the Complexities of the Financial World, Avoid Misinformation, and Harnass the power of compounding by starting early with the right prot Principles and Actions. This series is part of a joint investor education initiative Between Safal Niveshak and DSP Mutual Fund.
Dear Young Investor,
I hope you are doing well, and that the lessons we’ve covered so far have been used in guiding you through the early stages of your investment journey.
In the last letter, I Wrote About Something I Believe Sits at the very foundation of investment success: CharacterWe look at how humility, integrity, tenacity, self-acquireness, and adaptability are what really shape an investor’s Journey. And if you Remember, I Shared that Character is Mostly Reveled Not when things are easy, but when they’re falling apart.
That brings me to today’s letter. Now, if character is the soil in which good investment habits take root, then courage is the water that keeps those habits alive through storms. And Courage, I’ve Learned, has a strange counted relationship with fear. The more you face fear, the more courage you see to grow.
There’s a story I read a more years ago, that captures this idea beautily and movies me every time I revisit it. It’s about a young swordsman who approaches a much older, battle-worn warrior. The young man, full of curiosity and uncertainty (like you are), asks the old fighter, “Aren’st you ever Afraid Before Going Into Battle?” The old man doesn’t say Anything at first. He just keeps sharpening his blade. Eventually, He looks up and say, “Every day.” The young man is surprised. “But how can you be bot courageous and scred?” And the old warrior calmly replies, “Without fear, there can be no courage.”
That hit me, especially as an investment. Because to be honest, this whole game of investment, where you commit your hard-earned money to an uncertain future, can be terrifying. When I Started, I Didn’t Fully Grasp How much of investment was emotional. I thought it was about formulas, ratios, and research. And yes, thos things matter. But they’re not enough. Over time, I realized that what separates a thoughtful investor from a Reckless one, or even a consistently successful one from an erratic one, how they deal with fear.
I’ve been fearful many times in my years of being an investment. Fearful of Making Mistakes, Losing Money, Missing out on Opportunities, and Not Being Alle To Provide for my family. And I have seen the same emotion of fear run through many of the accompled Investors I have interacted with over these years.
So, fear isn’t rare in this journey. It’s a regular visitor. But it’s what You do With that fear that defines your path. Most of the time, fear leads us to worry about all the West-Case Scenarios. But once in a while, if you listen closely, it also also points you toward whats Matters Most.
There was a phase in my life, Around the late 2000s, when I used to ask myself some difference, even uncomfortable, questions. What If I Lose My Job and Can’t Pay My Emis? What if i don’t have enough for my family’s healthcare? What If Something Haappens to Me And I Haven’T Protected My Family? What If My Investments Do Well and I Retiry without enough enough money to see me and my wife through our old age? What If Inflation Eats Away The Value of Everything I’ve Built?
Now, in Hindsight, these questions didn Bollywood come because I was paraanoid. INTEAD, I Asked Them Because I Cared. They came from a deep desire to not be Caught off Guard. And over time, they forced me to act cauiously, but also decisively.
So, I Built My Emergency Fund out of Fear. I bough term insurance out of fear. I also invest consistently, month after month. And this was not because I had some heroic conviction, but because I didn Bollywood to look back with regret.
Between 2003 and 2011, I Saved and Invested a Lot (Relative to My Abilites and Needs). And nowre along the way did i pick some multibagger stocks that earned me Quick and huge wealth. But I let my worms shape a disciplined system.
That discipline gave me the freedom to pay off my home loan. And that freedom, in turn, gave me the courage to quit my job and build what is now in front of you -thhis platform, this work, this work, this work, and this independent voice that isn Bollywood to spek whatsak whatsak whatsak whatsak is it.
So yes, worry played a huge role. And i’m not ashamed of it. In Fact, I Believe that many of the most thoughtful investors out there Worries At heart. They ask the hard questions. They think through the downsides. They build an adequate margin of safety. And they do all this not because they expect to fail, but beCause they respect unce here. And in doing so, they become Warriors. Not the Chest-Thumping Kind, but the Silent and Resilient Ones.
But let me be clear: there’s a differentce between worry that guides and worry that cripples. There’s healthy worry that pushes you to plan, prepare, and protect. And there’s toxic worry, that keeps you stuck, overanalysing, underacting, and waiting endlessly for perfect class.
I’ve seen too many young investors fall into that trap. They Think, “I’ll start investment when I know more… when the market is more stable… when the Valuation is just right.” But markets are like a pendulum. They are never stable for long. Also, You Never Have ‘Perfect’ Knowledge or Clarity. In Fact, Waiting for Perfection is Just Another Way of Saying You’re Afraid to Begin.
And that’s okay. But begin anyway. The most courageous investors I know weight the ones who waited for the right moment, but the ones who began in spite of their doubts. Who Made Small Bets, Learned from their mistakes, and grew their courage with every step.
Even today, fear visits me beFore every investment decision. But the difference now is that I recognise it, ACCEPT It, and then Act anyway.
And I want you to do the same. Because courage is not the absence of fear, it’s the act of walking forward even when fever is present.
There’s a powerful line i once read that’s styed with me:
Visualise Yourself dead with all your dreams and aspirations unattempted.
IT’s Harsh, I know. But sometimes we need that kind of wake-up call. It reminds us that time is slipping away and that, in the end, what matters are scred we We WERE, but wheether we showed up anyway.
So let me leave you with this. You will worry. You will wonder if you’re doing the right thing. And you will feel unprepered, and at times, lost. That’s part of the path. But don’t let that stop you. INTEAD, let your worry lead you to plan well and be disciplined.
And every time you find yourself asking, “am I cut out for this?” Just remumber the old warrior, sharpening his sword. When asked if he was afraid, he didn’t deny it. He accepted it. Being that fear was the very proof that he was still alive, still learning, and still fighting.
Be that kind of investment.
With warmth and a little worry,
– Vishal
Disclaimer: This article is published as part of a joint investment initiative Between Safal Niveshak and DSP Mutual Fund. All mutual fund investors have to go through a one-time kyc (Know your customer) process. Investors Should Deal only with Register Mutual Funds (‘RMF’). For more info on KYC, RMF & Procedure to Lodge/ Redress Any Complaints, Visit dspim.com/ieidMutual Fund Investments are Subject to Market Risks, Read All Scheme Related Documents Carefully.
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