How we miss the multi-baggers, but do we know that they would become multi-baggers?

Let me narrate my hilarious experience …

15 or 16 years ago

Citibank, Abudhabi premises

A group of reasonably young RMs (Relationship Managers) were as usual having their mid morning tea along with yummy hot cheese za’atar bread. I was one of them ?

Discussion… what stock to buy?

My flatmate (a, Gujarati – Damania), in his usual self style words…. Khareedle, Aarti Industries Khareedle – mera dost ka company hai, multi-bagger hai

We smiled, pulled each others legs with more masti, and then split up to continue with our work ?

Another good friend (he still works with Citibank, Dubai) immediately went ahead and bought the shares. Price was about ₹52, I suppose.

I didn’t buy it immediately, but tracked the stock for some time

It fell to about ₹27

I still didn’t buy

But then finally, took the plunge & purchased about 300 shares of the stock.

Meanwhile, my other friend sold the stock for about ₹34 or ₹35 ? and made a loss. My good Damania friend makes this statement…. dekh bhai, maine tujhe stock market ka funda dus hazaar rupaiya me sikha diya

The stock started moving up and when it touched about ₹54, i sold all my shares (in about 6 months time)

The story ends here 🙂

You know the price of this stock today ? ₹ 1220, about 30.86% in CAGR over 15 years, not counting for Dividends or any Bonus or Stock splits

This is a multi bagger lost based on a Tip from a friend

It’s a different story that Mr. Damania gave some other tips (he was the stock market expert for us) as well, and probably many wouldn’t have even survived today and others would have really made some money?

Mr. Damania still works in Dubai

On a lighter note…

Yes, listen to your friends for tips, but ensure that you listen to everyone of them, buy them all and most important – HOLD THEM FOR a long long time ?? ?. Even if one stock works, paisa banjaayega (pls don’t ask me on how much we loose before making any money ?)

Did Mr. Damania know that Aarti Industries would end at this price in 15 years time….DEFINELTY NO

Would the promoters themselves vision this….DEFINITELY NO (not atleast 15 yrs ago)