Money management is one of the key aspects to financial freedom. Keeping this in mind, Nagpur Branch of WICASA of ICAI recently organised a webinar on the topic ‘Stock Market Beginners Pathshala’ to guide the members and students about the intricacies of the capital market and to provide insight on the concept of financial freedom and financial literacy. The session was conducted by the chief guest CA Mahendra Kamath, Past Chairman of Nagpur Branch of ICAI. Kamath said, “Investors should focus more on financial discipline than knowledge”. He explained to the audience why investment is necessary and how and when to invest. Some people earn a lot of money in their working span, but in old age they are left with very little amount of money.

 

People know how to create wealth, but wealth creation is bundled with other aspects of money which are wealth management and wealth distribution. “It is more difficult to manage money than to earn it,” he said. He discussed investor’s psychology of following familiarity bias, other person’s opinion, investor’s fear and greed. He highlighted the various aspects of wealth creation which includes risk management, asset allocation, cash flow design, expenses and debt management and succession planning. He quoted the famous quote of Dave Ramsey, “Those who don’t manage their money will always work for those who do”. CA Jiten Saglani, Chairman of Nagpur Branch of WICASA, said, “The stock market is a place of dreams. Where everyone comes with a dream but don’t know how to achieve it”. CA Saket Bagdia, Chairman of Nagpur Branch of ICAI said, “COVID-19 taught us to value life, family, friends and also to value savings”. He urged everyone to be patient during the pandemic.

 

He also mentioned about the Covid helpline group for students which is providing help to many people in need. The session was guided by CA Jiten Saglani, SEBI certified Securities Market Trainer (SMART) and Ajay Barik, technical analyst, having in-depth knowledge of markets. Both the speakers started with the basics of stock market and made students understand the terms and terminology used in the market like bull market, bear market, market capitalisation, blue chip stocks, penny stocks, stock split, consolidation, dividend, dividend yield, record and ex-date, IPO, FPO, OFS, grey market, bonus shares etc.

 

Prominently present were CA Sanjay Agrawal, Secretary, Nagpur Branch along with CA Kirit Kalyani, Past Chairman and CA Akshay Gulhane, Treasurer. The webinar was conducted by Nagpur WICASA Team comprising of Ameya Soman, Aviral Barange, Karan Agarwal, Karan Tajne, Parag Jain, Radhika Taneja and Ravina Tayade. A recording of the webinar can be viewed on WICASA Nagpur’s YouTube channel.