Think Hatke – Book Launch

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It gives me great pleasure to write Foreword to Sunil aka MisterBond’s book ‘Think Hatke’.  In the 1970’s ‘Think out of the box’ originated with the study on creative by J.P Guilford.  He gave a nine-dot puzzle and asked his research subjects to join them by four straight lines without lifting their pencils from the paper.  Most of the attempts failed.  The reason was the lines were limited to the imaginary box containing the nine dots. The solution was to extend the lines beyond the box and then one could easily connect the dots. This led to a line of thinking both academic and its application thereof in business to improve creative solutions while approaching problems.

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Mr. Kalpen Parekh

MD & CEO – DSP Mutual Fund

“Great creators don’t necessarily have the deepest expertise but rather seek out the broadest perspectives.” – Adam Grant.

Over the years, I have had numerous interactions with Sunil. Each interaction has been ‘Hatke’ and a reminder of why the moniker of MisterBond, as he is popularly known in the mutual fund industry, suits him very well. Today, as I write this Foreword for Sunil’s latest book, Think Hatke, I recall all my interactions with him. He is someone whom I have known to be a change-maker, a person who is not afraid to innovate and apply logical solutions to bring about positive change in the industry. From suggesting rolling returns as the go to measure of a fund’s performance to spreading awareness on risk in investments and asset class valuations, Sunil’s voice has always been one of the loudest and the strongest.

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Ms Radhika Gupta

MD & CEO – Edelweiss Asset Management Limited

It is my pleasure, privilege, and honour to write this Foreword for Sunil – aka MisterBond’s book – Think Hatke. I personally believe in this mantra of “Think Out of the Box” which is also aligned with this Alvin Toffler quote I like – “The illiterate of the 21st century will not be those who cannot read and write, but those who cannot learn, unlearn, and relearn.” The Covid-19 pandemic and the changes it has brought to the fore, has shown the relevance of this quote beyond a shadow of a doubt. Therefore, the timing of this book couldn’t have been better.

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Mr Sanjay Sapre

President – Franklin Templeton Asset Management (India) Pvt Ltd

Writing a Foreword to MisterBond’s book Think Hatke to me is a matter of great pleasure. Not only is he a powerhouse of domain knowledge, but also his wit and charm capture the attention of everyone around him. Always courageous to speak his mind, even when it may be against the street accepted prevalent wisdom; Sunil has never shied away from sharing his views, be it through his writings or speaking opportunities at various forums.

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Mr Aniruddha Chaudhuri

Head – Retail Sales – ICICI Prudential Asset Management Company

I have known Sunil (popularly known as MisterBond) for more than 2 decades now. I have witnessed him grow from an Investment Advisor, to a mentor and now an entrepreneur running a successful fintech venture in the B2B space – educating and empowering Mutual Fund Distributors. He has amassed a wealth of experience over the tenure of his career spanning almost three and half decades and is now eager to share his stories with his readers. 

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Mr Nilesh Shah

MD – Kotak Mahindra Asset Management Company Limited

“The riskiest thing we can do is just maintain the status quo” said Bob Iger, the legendary CEO of Walt Disney company.

Sunil has lived by this quote and set an example for his fellow industry colleagues. Being a thought leader, he has been instrumental in shaping the thought process of the Mutual Fund Distributors community and investors alike.  ‘MisterBond’ is now synonymous with ‘smart investment advice’, constantly helping investors to take informed financial decisions. He has been playing multiple roles as an Influencer, an Advisor to Advisors, a Consultant to many Mutual Fund Houses, an Author, a Coach and a Mentor.

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Mr Navin Agarwal

CEO – Motilal Oswal Asset Management Company Limited

Congratulations Sunil on authoring your 3rd book around financial products and Mutual Funds – an Industry which has helped investors create wealth over two decades and it still remains as one of the most efficiently run and extremely well-regulated investment vehicles in our country. 

I have known Sunil for more than a decade and I will not shy away from stating that he has earned the name MisterBond in our Industry. I have personally attended many sessions conducted by Sunil for Asset Management Company employees as well as Mutual Fund Distributors across the country. His knowledge and ability to articulate and simplify complex Fixed Income jargons are commendable along with correlating the same with personal experiences- surely builds confidence amongst his followers and students. 

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Mr Saugata Chatterjee

Co-Chief Business Officer – Nippon Life India Asset Management Ltd

Excerpts from the Book

Interesting titbits from inside

Preface
How much is Enough?

This book is inspired from the Book titled “The Most Important Thing Illuminated” by Howard Marks. One line in this book was: “You can’t do the same things others do and expect to outperform”.

According Howard Marks: “First level of thinking is simplistic and superficial, and just about everyone can do it. First level thinking says, “The outlook calls for low growth and rising inflation. Let’s dump the stock”. Second level thinking says, “The outlook stinks, but everyone else is selling in panic. Let’s buy.”

I have always believed in this philosophy. What Howard Marks calls Second Level of Thinking – I call it THINK HATKE (thinking out of the box). Maybe my Indian version of the same philosophy.

Think Hatke has been the biggest strength in my Advisory practice and has kept me in good stead in guiding my Investors as well as my Mutual Fund Distributor (MFD) friends during times of crisis in the Mutual Fund (MF) Industry.

Another Book and Author whose thoughts and philosophy I relate to is Morgan Housel and his Book “The Psychology of Money”. I have taken the liberty to reproduce some excerpts from his book and quote them at appropriate Chapters in my Book.

In this Book, I will share my experiences of more than 36 years in the finance markets and almost 26 years in the MF Industry (since 1995 when Private Sector MFs started becoming popular) and illustrate how did I Think Hatke under various situations. These will be real life stories and experiences.  Hope readers benefit from these experiences.

Another legendary Investor who has inspired my thoughts and investment philosophy to deliver better investment experiences for the Investors is none other than Mr. Warren Buffett. Most forget teachings of Mr. Buffett in Bull Markets and remember them only during Bear Market corrections. I have ensured to remember his teachings in all Market conditions by incorporating them in my Smart Investment solutions (I have written about these in subsequent chapters).

This book was about to go in print, when I came across a Tweet by Mr. Kalpen Parekh – MD and CEO of DSP Mutual Fund. In that Tweet he had shared excerpt from the book The Craft of Advice – Essays 1995 to 1998 written by Mr. Nick Murray – an astute Investor and author of many books.

It suddenly struck me that he has said something very similar to what I have been propounding when I created Smart Investment solutions which helps Mutual Fund Distributors (MFDs) and Investors to control their emotions of GREED and FEAR. Also, I am a firm believer of the fact that MFDs are not managing funds of their Investors. They are only managing emotions (referred to as BEHAVIOR MODIFIER below by Mr. Nick Murray). Funds are being managed by the Fund Managers of the Mutual Fund houses.  

Following is a basic summary of what he had written:

Let me tell you a couple of things my job is not:

  • My job is not to OUTPERFORM the MARKET
  • Nor is it my job to pick Mutual Funds that outperform most or all other similar funds
  • My job is to be a BEHAVIOR MODIFIER – I help people to stop making self-destructive mistakes
  • If I can close the hideous gap between Investment returns and Investor returns – I have performed an immensely valuable service

My B2B Platform viz. www.misterbond.in which is created to empower the MFD community and help them manage their own emotions and emotions of their Investors through Smart Investment solutions created by me (these will be discussed in subsequent chapters) is also promising the same: we are not promising outperformance v/s traditional Mantras of Buy & Hold and SIP Karo Bhool Jao; we are only promising a) Downside Protection and b) Being in the right Asset Class at right Valuations. Outperformance can be a by-product of our strategy and their discipline to follow these strategies by controlling their emotions of Greed and Fear.

Readers will realise, that common thread and theme in the entire book is to concentrate on giving better Investment Experience and Journey and bridge the HIDEOUS GAP (as stated by Mr. Nick Murray) between Investor Returns and Investment Returns.

Who should read this book and why? I believe anyone who is an Investor and wishes to move away from traditional Mantras propagated by the Investment Industry should read this. This book and my philosophy of investment strategies aim at one single minded focus of delivering better, smoother, risk adjusted investment experience for the Investors.

We have been told: for Higher Returns – one needs to take Higher Risks – in the bargain also digest volatility attached to these investments. It is easier said than done. I am saying just the opposite: how can one have better risk adjusted investment journey even after taking Lower Risks? If you wish to know this Secret, this book is ideal for you.

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