Some stalwarts of the Indian markets are citing the floods in Mumbai to teach lessons about stock markets to investors. In one such lesson, Nilesh Shah, managing director of Kotak Asset Management, tweeted that on Tuesday when there was heavy rain in Mumbai, everyone was out on the streets, which led to a panic. On Wednesday, there was no rain, but everyone stayed home in fear. The underlying message was that investors sell in panic and then don’t buy at lows due to fear; the opposite is the right way to invest. Three other market bigwigs, including the CEO of Axis Securities, Dharmesh Mehta shared a similar message.
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