Yesterday was a disappointing day for me for quite a few reasons.
One of the main reason was my visit to KotakMahindra Insurance office. I have been putting aside Rs. 2,500/- every month for the last three years in one of their 'insurance/mutual fund/confusing banking jargon' scheme. Their agent, at that time three years ago informed /lectured me on what a good investment option they are offering. He came armed with comparative charts, graphs, figures, nicely drafted form, along with the bad habit of sticking his finger up his nose once in a while while explaining .Well, not being the type of person who have the patience for money to show up after many years I resisted, mustering all that I have learned......but he went rambling on and on without any respite nor mercy, this rendition of "Mahabharata" of investment and had almost started going to the intricate details like "The Adventure of Arjuna", " The Appetite of Bhima" and " The Honest life of Yudhisthira-wink&glint etc). My defenses collapsed and then crumbled further till finally I begged him to stop and hurriedly signed the documents.( flash back - Gorbachev-Yeltsin power transfer episode) After he left, I had a glass of cold water and poured some on my head and sat down for five minutes.
Corny jokes and bad grammar aside, the way I figured, I thought after 3 years on an investment of Rs.90,000/- ( 36 x Rs. 2,500/-), I should be OK if it didn't do so well as promised and I end up with a worst case scenario of about Rs. 1,10,000/- (which one can expect from any bank safely I believe). So far so good.
But wait, Life and Investments, it seems is not without its downs and downs turns. I was informed by the gentleman in the counter on the procedure of closing this portfolio and also said that the market value of my investment is now ...."GONG..NG...NG "....(Loud chinese reverberating bell sound indicating opponents can start killing each other!) about a whooping...Rs.65,000/-!!!!! ........hey, wait a moment.....this doesn't seem right..............my expectant smile gave way to a strong reaction of anger, disappointment, I need to kill someone right now kind of feeling all mixed at the same time. However,it appears that this kind of rare complex human reaction is not new to this man behind the counter..........he was calm and composed and he understood and agreed to all my rapid outbursts and reasoning.........at the end I told him that I need to scream to someone with a higher salary structure like a manager or someone............he also understood that and told me that I had to come on Monday for that as the Managers have gone for some meetings. At the end, he also informed me that he had invested on the same fund and had lost money............ hmmmm.....poor chap or clever ploy? (wink!)
Anyway, I left the office, had a small quarrel with the parking guy on the way and drove back home in a rather resigned mode .............but later through the night I couldn't help but wonder "How did this happen?" After pondering for a while I think, I know what might have happened here. This gives perfect explanation on how my money have become Rs.65,000/- from Rs.90,000/- in 3 years. The series of (unfortunate?) events leading to this very result.................... to be cont.... ( next post)
****wink&glint - ref. " how i met your mother"
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