Uncle’s Hot Tip From the Wedding

At the wedding buffet, Uncle Prakash leaned in close, the way people do when they are about to ruin your week. ‘There is a small stock,’ he whispered, ‘my friend’s cousin’s colleague says it will double.’ Ankit nodded politely and bought it that evening, between the paneer and the dessert. By Monday it had dropped nine percent. By Friday it had dropped fifteen. At the next family function, Uncle Prakash was asked about it. He looked at the ceiling and said, ‘Long term investing means being patient.’ Ankit is still patient. The stock has also been patient, in the wrong direction.