Here are 5 personal finance lessons which everyone can and should learn from the BJP win in Gujarat to become a successful investor.
Notwithstanding the anger over GST and demonetisation sweeping across Gujarat as well as more than two decades of anti incumbency, the lotus finally bloomed in the state again. Apart from brand Modi, many other things worked in favour of the BJP. However, before going into the reasons, it is only fair to assume that no significant success is achieved without a well thought-out strategy and an impeccable execution of the same. Keeping this in view, here are 5 personal finance lessons which everyone can and should learn from the BJP win in Gujarat to become a successful investor:
1. Consistency, long-term focus and patience pay in the long run. For, instance, the BJP did not wink in the face of strong agitations on Patidar reservations and anti-GST protests by traders. “Whatever was right for the economy was done without immediate political considerations. In the end that has helped rather than harm them. Similarly, if the portfolio composition and allocation is kept consistent and does not sway with moods and swings, results are always positive in the long run,” says Ashish Kapur, CEO, Invest Shoppe India Ltd.
2. Secondly, nothing is achieved by last-minute work. The Congress started campaigning heavily from August onwards after nearly being absent for many years. However, despite a lot of hard work in the end and the advantage of having tail winds of GST anger and more than two decades of anti incumbency, they could not get the desired results. In the same way, trying to time the financial markets never works. For achieving results, you have to stay invested and let your portfolio work for a period of time.
3. Results of good and solid planning always help you during adverse times. “Over the last 20 plus years, the BJP government in Gujarat has worked on building good infrastructure and development projects. This goodwill has helped them in fighting anti incumbency, rural distress and anger over GST. Similarly, portfolios built on carefully-thought strategies help you stay float even when the markets go through rough weather,” says Kapur.
4. The BJP’s strong grassroot presence and dedicated workforce made it very difficult for the Opposition to defeat it. Again this strong presence down to every village was not built overnight, but rather is a result of years of dedication and hard work. Comparing this with the financial markets, a strong and dedicated research base is needed to cement your continuous success in the markets.
5. The biggest Trump Card for the BJP is the brand Modi. “The Prime Minister’s image gives his party the extra zing required to move past rivals. For stock picking also, the best bets are shares of companies having strong and visible brands. They help you earn the extra return in your portfolio,” says Kapur.