Recently a Mumbai-based senior citizen lost 2 Crores to a WhatsApp scam. Investors are always in a hurry to make more money. They will accept help from any corner that shows quick results. Strong markets increase the urgency.
In wealth creation, we associate speed with action. We believe that somehow doing more means that we will get to our milestones faster. This is probably why so many people take to day trading and F&O.
The illusion of activity provides investors with comfort while being treacherous. Investing is an imprecise art. Even the best investors are often wrong. So, the way to bear the game is to play less. They learn to channel their energies into fewer well-thought-out decisions instead of many hasty ones.
It’s time to get rich slowly.