A young economist who’s changing the concept of Wealth creation!
Sahen Karamchandani is one of the young Chartered Wealth Manager in India who’s suddenly taken wings and awaken the kings!
“Trading without an overall structure or planning in mind is like Gambling in a casino: You don’t have an edge, you don’t know why are you betting, and you don’t know what will happen.” – Sahen Karamchandani
What he meant was, all the resources in this world won’t make you successful if you don’t have a hunger for planning for your success, especially investing in the financial markets.
Sahen was one of the few Economists who had sensed the Blood in the market way before it wounded. Sahen had predicted and cautioned about a crash in the markets through his social media handle with an unrealistic fall of 2600 points target which later turned out to be a reality. (Link: Click here). Sahen had even predicted a strong rebound and vigorously pushed investors to invest… now we all know how we regret and crave for the march levels again. (Link: Click here).
Growing up, Sahen recalls business channels as screens displaying green and red arrows on which he used to bet on, with his father. He said, “As I grew up, I began learning more about the uses of the financial markets. From my father using financial markets to make his investments, to the companies using these funds for expansion and development. Learning these aspects of Financial markets familiarised me with the sheer amount of power and versatility these markets possessed”. He soon began to find traces of financial markets everywhere that he looked from MNC’s to employees, investment to speculation, DII to FII, saving to economic development; every economic variable relied on financial markets to operate.
Claiming to be a turning point in his life, he said, “My friend once told me ‘Yeh Company ke share lele bahut kamayega’ (Buy this share, you will make a lot). At first, I got carried away, but I had my doubts about whether or not it would work. I spent the night researching online and learning more about the suggested company, and by the next morning I realized that this was a dooming opportunity with the business having no future prospects.” I decided to back out on my Investment. Though I was right in the long-run, but my friend did make money in that stock in the short-run… it was that day I understood that the market don’t believe in tit for tat…numbers don’t dictate the stock price…the market sentiment decides. Numbers just tell you which stock to buy, but when to buy is the place where market sentiment walks in.
On being asked, What does it take to become a successful wealth manager? He said, “People will say investment strategies, plan, contacts, luck, etc but No…it all comes down to one word ‘Trust’, the trust that I have in my investment suggestion, and the trust that investors have in me. There will be times when things don’t go your way, that’s natural buts that when you have to be there with your investors and face it out… rather than shying away like most of the wealth managers do and losing their trust. NEVER BREAK ANYONE’S TRUST IN LIFE. It takes 30 years to build a reputation and ten minutes to ruin it. If you think about that, you’ll do things differently.”
Going forward on the Indian Growth story He said, “I never saw the Indian long-term growth story endangered. Despite, the initial contraction by almost 24% in the first quarter due to covid, we have recovered well to reach the minimal shrink of 7.5% in Quarter 2. Moving ahead, we continue to see huge potential in India in the long run and believe our growth story is intact. And it’s not just I who believe soo… it’s also accepted by others, who are ready to invest in India. We expect the country to witness a ‘V’ shaped recovery post the vaccine roll-out.
Sahen Karamchandani, aka the triple ‘M’, not only has fulfilled his childhood dreams but is also helping others achieve theirs with compassion and a positive mental attitude, becoming one of the best wealth consultants in India.
To learn more about this inspirational personality, follow his work on social media, and become a part of his large community.