Although trading focuses on short-term profits, it takes patience to create trading income of any note, especially if the trading capital is not very large. During bear phases, it doesn’t take much for a trader to throw his towel in despair. At such times one would do well to remember companies that were started by Parsis that are older than more than a century or two. They survived challenging times and thrived when the winds changed. Apart from big business houses, even the old Iranian restaurants have staunchly endured even though hip restaurants come and go.
One of the secrets of the Parsi success story is their ability to focus on the little details. This is visible in the way they maintain their vintage automobiles, classic radios, antique clocks etc. Similarly, traders can pay attention to technical indicators by scrutinizing charts, trends, patterns without ignoring fundamental analysis by studying ratios, cash flow statement, profit and loss statement and balance sheet of the company
Godrej Industries, Britannia, Tata Group… the list goes on. This is enough to indicate the sharp business acuity the Parsis possess. From helping the Chinese build the Silk Route to Jamshedji Tata forging India’s industrial landscape, aspiring traders could do well to imbibe the twin abilities to think big and take risks.
The success of a Parsi is an extension of the success of the Parsi community as a whole. Any individual, who tastes success and amasses wealth, looks out for the community in particular and the society in general. They believe in giving back to the society that allowed them to achieve success. They are clock-builders rather than time-tellers as can be seen from the activities conducted by charitable institutes like the Tata Trust. Similarly, it is important for the investor community to share knowledge with other like-minded individuals. Never hesitate to discuss stock ideas and reasons to invest in a particular stock with people you trust. It will only help in clarifying your own thoughts and building your community’s knowledge base.
As the old saying goes, winners don’t do different things, they do things differently. By observing the difference, each of us can learn a lot and taste success going forward.
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