In Time
In our last blog , we spoke about the secret to investing success, i.e., Fixing a goalpost and making sure it does not move. Staying with the topic, let’s try to slay the next hurdle — the one that inevitably makes the goalpost move. Imagine having a goal and then having infinite time to achieve it. Of course, we all know that a goal without a deadline is just a dream. By now, going by the title and the hints above, one would have guessed that the next hurdle we are indicating is nothing but time. Let me re-quote what we wrote as Droplet's goalpost in the last blog: “Along with one crore, equal attention needs to be paid to the ‘time’ we prescribe to achieve it. Achieving one crore is a wonderful and reachable goalpost, but all the wonder is lost if we do not achieve it ‘in time.’” The reason is that we can only plan for a limited period (say 6–8 years), and to a large extent...