Having a real plan means deciding in advance the changes in asset allocation Akbar once asked Birbal to paint a wall. “Your composition should be something that will make me happy when I am very sad and make me sad when I am very happy." Birbal thought hard and painted this quote on the wall, “Yeh waqt bhi guzar jayega (this time too shall pass)".
Investors would also do well to pay heed to this advice. All too often, they get carried away when times are either too good or too bad.
They forget that nothing lasts forever. “Nothing goes in one direction forever. Trees don’t grow to the sky. Few things go to zero.
And there’s little that’s as dangerous for investor health as insistence on extrapolating today’s events into the future," said
Read more on livemint.com