One way to become frugal is to ask yourself what gives you true happiness from within and not through the eyes of others. Citing my own example, my greatest joy comes from playing cricket and squash, reading books and trekking in the mountains. I don't compromise on quality of sports gear including shoes, books etc. But, I spend bare minimum on car, clothes and all else which does not give me joy. These are just basic utility items for a reasonable lifestyle. That is the way to minimise wasteful spending
@@hirendesai5724 Nice! You probably have - but try checking following books - world around me is not same after reading them. - Seeking Wisdom Peter Bevelin - Art of thinking clearly by Rolf Dobelli - The Art of the Good Life by Rolf Dobelli - The Manual: A Philosopher's Guide to Life by Epictetus, Sam Torode (Sam has done good work with translation) - Antifragile by Taleb - The Psychology of Money Morgan Housel - Naval Almanack - Influence Robert Cialdini - Predictably Irrational Dan Ariely - Tao of Charlie Munger (it might not seem like it. But powerful concepts packed in 1 page chapters)
Coming from a rich culture like we have here in India, a Major take away is the "Old Wine in New Bottle" which resonates with the "Lindy effect". The way he challenges ideas, his and his mentors is something which is possible only through detachment. He just redefined "detachment" which was a Knot in my thought process whenever I tried to understand Gita and the Upanishad. Thank you Vishal for the talks.
It always great to hear Sanjay Sir, had been his student in MDI in 2002 and his was the course for which students of other specialisation enrolled. He is truly a great life and investing master. Thank you Vishal to bring him on your show and asking him relevant and wonderful practical questions. Really grateful to you 🙏
At 11:50 reminded me of The Mahabharta when the Pandavas visit the enchanted pool and the Yaksha asks Yudhisthira questions. These are called 'Yaksha ke Prashn' ‘What is the greatest wonder?’ the Yaksha asks Yudhisthir replies, ‘Day after day countless people die. Yet the living wish to live forever.’
Contemplation: Michael Thorpe mentioned two habits of the great: 1. showing up for practice under all conditions 2. running simulations in the mind - this matches with the idea of contemplation
One thing I found most of the people who made it big in Indian stock market are spiritually influenced people. Control of emotion might be the reason. Loving it bro ❤️
Wonderful episode. Learned many lessions on how to live from Professor. I have been listening other episodes and found them full of wisdom. Thank you Vishal for doing this 🙏🙏
Another beautiful Gem from Vishal. Life long Learning’s. The why and purpose of life & investing - so beautifully discussed with Prof. Bakshi. 👍👏🏻👏🏻👏🏻👏🏻
In Indian context, one set of businesses which generates good returns on capital and redeploy that at the same rate of return are lenders like HDFC Bank, Kotak Mahindra Bank etc. Have you observed that in any other sectors? I can see lots of sectors generating good ROE and ROCE, but investment opportunities are not structurally present
Just to play a prank, Prof Bakshi should have said atleast once, Stupid Question! Seems Vishal you were not paying attention in my class when this topic was discussed!