KURLA, OCTOBER 11, 2011: On October 4, 2011 Don Bosco Institute of Technology together with Don Bosco Institute of Management and Research organised a Program for students of both Institutes on "How to be a Smart Investor". This program was done in collaboration with Consumer Guidance Society of India (CGSI) at no cost. The program was held in the Mondini Hall from 2pm – 5 pm.
Fr. Mario, Executive Director Don Bosco Institute of Management and Research welcomed the representatives of CGSI, the distinguished speakers, the staff and students of the Institutes. Dr. M.S. Kamath, General Secretary, CGSI emphasized the importance of people knowing their rights and responsibilities in various aspects of their lives as consumers and that this program on Investment had been organised keeping this in mind.
Mr. Gaurav Mashruwala a well known speaker and contributor to The Times of India on this subject then regaled the audience with very interesting insights and advice. He stressed on the importance of practicing the tenet of 'Earn, Save, Spend' in that order. He explained the ill effects of living life giving priority to either spending and then earning or earning and then spending with no thought of saving.
He also advised the students to make their own budgets starting with just a listing of the expenses incurred on a daily basis against the money which the parents give them. He also wanted students to become aware of their relationship with money. We always react to money emotionally. We need to become masters of money and not allow money to become our master. We need to save for protection against any catastrophe or other contingency. Making money and managing money require different competencies. The credit card culture is destructive. We need to avoid creating wrong assets namely assets which take money away like a car. And lastly we need to learn to donate generously.
Mr. Lokesh Jain, another eminent speaker followed up with some very useful advice pertaining to investment in the stock market. One must begin with defining one's investment objectives, analysing one's available resources, analysing the possible investment opportunities, designing one's asset allocation strategy, and finally implementing one's investment plan. He also gave one a checklist for evaluating various investment avenues. The checklist included Safety, Choice, Easy access, Tax Benefit, Affordability, Growth/Return, Liquidity, and Trust. Mr. Jain asked the students to remember that Savings is additive while Investment is multiplicative.
The last speaker, Mr. Ajit Manjure of the Central Depository Services (India) Ltd. made the students aware of the role of CDSL and the move to demit as many investment instruments as possible.
There were a plethora of questions which had to be curtailed because of the paucity of time. Dr. N. Joag, Principal, DBIT then proposed a vote of thanks.