Tuesday, March 13, 2012


So I have started what can be termed as a proprietary fund and at times when I think back at what I have been through and what I am currently going through, especially the last 4-5 months, I feel fortunate for having access to such an opportunity. I already see myself developing in odd ways. However, the risks are difficult to comprehend.
As an employee, one's issues are competitive and seniority oriented. One looks forward to promotions, appreciation, beating another person in the team/ company, getting recognition from a senior but is never too worried because diligence tends to pay off.
As an owner and as a fund manager who is responsible for a corpus, everyday is an intellectual and mental struggle which is also very rewarding because of the freedom and control and lack of fear. However, the risks are such that I could not have comprehended them a year ago. Here I am, sitting on a corpus which needs to be invested, but I am slothy about it because it needs to be deployed qualitatively and carefully - not rapidly for the quick buck. The strain of sitting on cash is quite something. The strain of waiting for an investee company to perform is also difficult to adjust to because in a normal business, one is more in control of what is happening whereas here, one has to hope for the investee management to do good work. 

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