The Ledger, every show

“No, because SME doesn't have liquidity. It doesn't make sense for a company like ours, where we offer liquidity to our customers. I can't offer them and then have companies which I can't sell in a day.”

“Most of the people who earn their first crore million, whatever, earn it from the job that they do.”

“Most likely, 24% returns are obscene. They're not going to happen to everybody. You'll make 1012, 13%.”

“So when you cross the one crore or two crore number, then the incremental money you're making, even if it's 10% is probably significant compared to your savings.”

“So if you keep saving over time and time and time and you will get to that number over a period of maybe 1520 years is when that money will come typically from your, from the savings you make and investments you make.”

“People who are truly passionate about something don't care. They will let, let go even earlier. They will find a way to make money in their, what they're really passionate about.”

“So what happens typically is people find their way behind and then they try to take extreme risks. That's a big problem. Because if you take extreme risk, you could have extreme losses. More likely you'll have extreme losses. So you won't get there and then th…”

“It could be likely that the markets are overvalued right now, but it's also equally likely markets continue to go up another 30% before they crash because that's the nature of such, such markets that they don't give you this, you know, it is overvalued now, le…”

“Naika got 18 times oversubscribed. It was valued, I think, more than 40% higher than what it was valued in February of this year. And relatively speaking, you know, this is froth.”

“So largely the behavioral challenge is to say, okay, you've got to have a broad context, create yourself a sandbox that allows you to invest in all these five lakh, 10 lakh, you know, Five X, 10 X kind of opportunities where you will invest smaller amounts of …”

“There was a time when teak plantations were the woke. You bought a share of a teak plantation and they would build the teak trees, grow it for 20 years. When the teak grows big, they will make a big amount of money and so on. This entire thing was, you know, a…”

“So for instance, more than 75%, I think, of HDFC bank is owned by foreign investors.”

“So for instance, HDFC as a NBFC could lend to land. It was one of the largest lenders to land. Banks cannot lend to land.”

“Like, for instance, HDFC bank was trading at 35 times earnings. Now it is trading at 20 times earnings. It was trading at four times book. Now it is trading at two and a half times book. Two and a half times book is also a lot, because SBA is trading at 1.5 ti…”

“RPA does not print money for the government to put money into banks. The government borrows money Ah, from the banks to effectively put money back into banks.”

“Right now, I have personally invested in the PMS myself. So, my own IRR is, 19.8 five percent as of net of everything. This is net of fees not net of taxes.”

“Add Amazon and Apple. The market caps are greater than all of Indian listed companies combined.”

“You can't really retire. You can't really stop working, but you work because you want to, not because you have to. That is the retirement concept.”

“I haven't not bought a house because of delayed gratification saying, I'll save now and buy a house later. I have not bought a house because I don't know whether this city is where I want to live forever.”

“Your PF is typically a fixed income instrument for the most part. So that's already giving you a debt allocation for your longer term. You can then therefore whatever beyond you have as savings that can go into equity”

“IRCTC, when it came out with an IPO, they said it's a 3000 crore company. This sounds a little expensive. Today it's a 90,000 crore company.”

“When it came out, it was 300 rupees per share. Now it's 4500 rupees per share in a matter of two and a half years.”

“And of course the whole world came crashing down my investment, which was in the technology fund fell 80%.”