Full text of investor Vijay Kedia’s talk: Investing in the Stock Market at TEDxDSBinternationalSchool conference. In this talk, he discusses the benefits of investing in the stock market through his own life examples and the way he became financially independent.
Listen to the MP3 Audio here:
Vijay Kedia – MD of Kedia securities
My failures in life have been my biggest assets. If I was not in stock market, I would have been in the army.
So, when I was in class seventh, I wanted to join NCC. So, when I approached the NCC Department, I was told that I am late for the admission, because admission is closed 15 days back, so now I have to come back next year, so, but I was very much desperate and didn’t want to lose by one year.
So, every day whenever NCC class used to take place, I would just go and stand outside the NCC class and watch and listen what is happening inside.
So, one army officer used to come there to take classes. One day he saw me after three or four classes, he saw that I’m always standing outside the class. He called me in and asked me why you were standing outside. I said because I wanted to get in but I am late for the admission.
So, somebody from the class told him that sir, he’s a good singer. So, he told me: Okay, sing one song. So, I started singing a song, then he asked me to sing another song, like this I sang four or five songs. He was very much impressed and he took me into NCC.
So, there I learned this lesson that perseverance, if you want to get something in life, you have to be asked for it. Don’t just give up.
When I was in class 10th, suddenly my father died. And I had to appear for the exam… for the final examination, which I failed. So, the future for education was over for me from that day.
But one of my distant uncles approached headmaster and told him the fact that my father had died three months back. So that headmaster actually gave me another chance to reappear. And the question papers were also set little easy so that I can pass; I somehow passed.
But after that I was no more interested into study, I was only interested in grow faster so that I can support my family, as I am coming from a humble background in one bedroom, we six of us, our family used to live and we did not have any savings or any capital and all.
So, I thought that let me… I should do something for myself or for my family. So but somehow actually, my mother approached one astrologer and astrologer told my mom that don’t worry, your son is going to be in the biggest University of India. But actually, astrologer was also failed because I did not go beyond my graduation.
When I turned 19, I joined the stock market and started trading, because that was the only thing I could do in my life without education, without experience, without capital, without savings. It was that time it was very much unorganized, like gambling.
So, I started doing trading. And I really did well for six months or one year and I started supporting my family. I thought that I’m really invincible, and I have really learned the trick of the trade and I am going to become a crorepati, millionaire very soon.
But suddenly that luck, which was actually doing that, what was playing with me, the opportunity started slipping out of my hand. And now my losing trades were more than my winning trades.
So, there was one incident where I, you know, received a lot of… I had a lot of losses. And the situation came to this extent where I had to… where the situation came where my mother had to sell, about to sell her jewellery to pay off my dues. So, I was in really distress, I prayed to God to save me and somehow God actually saved me.
So, there I learned this lesson that nobody in the world is invincible, and I learned the lesson of stoploss in life. And also, I learned that prayer really works in life.
After that, after a few years, I got married with a lot of difficulty, because nobody was willing to give me their daughter to a person who does not have a separate room to keep… to live with his wife and who does not have a stable income. So, somehow a girl you know got ready, bad luck to her or good luck to her. And I got married.
After a year I got a son also. But things were little hand to mouth only. There was one incident where I did not have even 14 rupees to buy a box of milk Lactodex to feed my son. So, things were going on.