I consider myself to be an average Poker player, who hasn’t gone beyond the Online leagues. I was super excited to get an invite to interact and play with Aditya Agarwal, one of the best Poker player in the World.
His story is pretty much inspiring for Traders & Punters like me , He has been playing World Series Professional Poker since he was 21 and still in the Game.
Poker player Aditya Agarwal spent his childhood and school years in Darjeeling, India. He moved to the US to study at Drexel University, first enrolling for a degree in Engineering, before switching to Marketing. Just like students at every other college across America in 2003, Aditya and his peers saw poker being played on TV for millions of dollars, and they wanted in on the action. By the time Aditya graduated, he was already a full-time poker pro.
What I really liked about his Poker strategy was to go slow, wait for your Good Cards and Not play every round for the sake of Playing or Playing and then hoping and praying .
This rang a Bell and reminded me of something what I do on a regular basis..Trading.
I would definitely consider Poker a must do activity for Trader’s along with Yoga and Meditation… Just like Trading Poker is an ultimate Mind Game of Money.
Poker can in my opinion can definitely make you a better trader.
The beautiful thing about Trading is that you never have to trade when you don’t have great cards (great trade setup).
Both are about Risk Management, Understanding your environment, Staying in the Game and going for the kill when your chips are good while being cool & humble about it.
I personally believe that Poker will go a long way in India, Reforms and legislation will happen soon, Tourism and Entertainment needs a fillip.
Million of Indians head to Macau, Singapore, Las Vegas to play and enrich foreign government in Taxes while India struggles for Tourism .
I’m Bullish on Change, After All aren’t we are a Nation with a really long history of gambling.
Some very important financial tips that everyone should know ….
1. Avoid buying property on loans as it eats most of your earnings unless you have a clear plan for its repayment. It’s important to monitor cash flow. Though, the house will be your asset, your liability will be much more.
2. Start a SIP at a very young age. Try to save atleast 15–25 % of your earnings.
3. Avoid buying a car unless you use it everyday.
4. Do not let this sentence scare you. “Mutual fund investment are subject to market risk. Please read the offer documents carefully before investing”. Most people avoid investing in mutual funds just because of this one warning. Yes, there is a market risk, but look at the history and growth of mutual funds.
5. Try having a simple wedding.
6. Atleast 20% of your wealth should be liquid so you can utilize it when necessary.
7. Considering inflation, you are actually losing money if it is in savings bank account. Do not keep huge money in savings bank account.
8. If you invest in stocks, pay due attention.
9. If you invest in stocks have a separate account for delivery investment and Intraday investment. It is easy to monitor this way and also makes tax calculation easy
10. Do not have a belief that property and car make you rich. Its what you save and invest, that is important.
11. Never invest in insurance for returns. Insurance is not an investment option. It is a risk management tool.
12. Never use credit cards for lavish spending. Use credit cards intelligently and for needs not for wants.
13. Cancel all credit cards before you die. Or inform family about all your accounts, credit cards, loans and saving now itself. Even a small residue will cost your family much.
14. Invest on yourself and then on other investments.
15. Always try to balance your earnings with your savings first, then on spending and loans. Never take unnecessary loans. Always have reserve and utilise them and unless no other go never take loan.
16. Always have a plan for future events on your career, life, spending and finance.
17. Always have a reserve on your savings for contingency and urgent situations.
18. Your personal life and health are the most important investment. Do have a regular health check and do healthy workout every day. Stay healthy and live happily.
YES Bank is India’s 5th largest private sector Bank and has been one of the best performing banks over the last decade.
The Private sector lender announced its Q2FY18 results and it proved to be a historic quarter for the Bank as its net profit rose 25.1 per cent year-on-year (YoY) to Rs 1,002.70 crores– the 1st time that the quarterly profit crossed the mark of INR 1,000 crores..While the Bank saw a rise in its Non-Performing Assets (NPA), the ratio at 1.82 percent is still better than most of its peer Banks.
Another key metric “loan growth” also showed momentum with a 35% year-on-year growth in total advances, which was spurred by 78% growth in Retail Advances. This growth in retail advances shows that the Bank is garnering market share in Retail liabilities and deposits. With the CASA ratio having improved to over 37%, this is definitely a good sign for the Bank’s performance.
The bank faced a setback as Divergence as assessed by RBI was at INR 6,355 crore. However, it was good to note that the Bank has been able to resolve/recover over 81% of this Divergence and the impact of this divergence to the NPAs was at INR 1,219 crore. This shows strong recovery mechanisms and should continue to help the Bank with its Asset Quality. Yes Bank has also been growing by leaps and bounds in the Digital Banking space and has built some great solutions to address various payments needs of consumers on corporates. Case in point, is their UPI – Unified Payments Interface leadership where they have grabbed a market share of 65% in merchant payments on the UPI platform.
In summary, except for a minor blip in Asset Quality, the Bank has shown strong operating performance and is capitalising on its growing retail franchise as well as increased digital capabilities backed by technology.