In an interview with ETMarkets, Joshi said: “Get in bed early, get up early in the morning, meditate for 10 minutes, pray for some time, and begin your daily routine with a healthy breakfast,” Edited excerpts:
With decades of experience under your belt in capital markets – how do you maintain your cool?
Warren Buffet had a fascinating take on his investing journey. In an interview, he said that when he was 11 or 12 years old, he looked at the equity markets as “stocks” and saw their prices moving daily.
He then read a lot about the technical aspects but needed help comprehending the logic behind them. Over time, he understood that owning great companies or growing businesses is important.
The lesson here is that once you have spent enough time in the markets, which are ultimately a reflection of how the underlying economy is progressing, you own part of great businesses that can do well over market cycles and economic conditions or phases that will occur regularly, and you will have the patience to let pass the setbacks from economic data or black swan events that do not matter as much.
The Great Depression of the 1930s, the OPEC event in 1973, the Asian crisis in 1997, the Financial Crisis of 2007-08, and the COVID crash in 2020 are all examples of global economies being hit but eventually returning to their growth trajectory.
In retrospect, I, too, was influenced by the adrenaline rush of the markets and the disappointments of market crashes when I first started out, but the realization of being patient and consistent in the approach to look at great businesses, sense opportunities to understand market cycles, set risk accordingly and let the markets do their thing over a longer period of time has made me more .
Exercise is a great way to keep mentally fit. What is the regime that you follow on a daily basis?
Being mentally and physically fit is an essential requirement in the competitive environment that we are all living in. My routine is straightforward.
Get in bed early, get up early in the morning, meditate for 10 minutes, pray for some time, and begin your daily routine with a healthy breakfast.
I take breaks during the day to listen to music and watch sports-related videos as it takes the mental stress that is silently building up.
Having food on time is equally important, and my better half ensures it is a balanced intake. Timely food helps you stay sharp and focused.
Post markets hours, I take time to speak to friends or family on other subjects, as it takes the entire mental load off.
At 6pm, I hit the gym to take a break from watching the screen all day because physical fitness is equally important. After dinner, I read a light book to take my mind away from the markets.
Mind Over Money: 10-minute meditation & gym help this research head to stay focused
“Get in bed early, get up early in the morning, meditate for 10 minutes, pray for some time, and begin your daily routine with a healthy breakfast,” Mayuresh Joshi, Head of Research – Equity, William O’Neil India, said.
What about weekends? Do you push yourself extra over the weekend to beat market volatility?
I have dedicated a specific time to reading articles & other materials associated with the markets and other developments.
But weekends are the time to largely unwind, spend time with family and friends, go on drives or nature walks, and play a sport.
It is necessary to do these activities as it helps unwind and makes one feel fresh and rejuvenated. P.S.: In a roaring bull market, I have seen many people wishing the markets were open on weekends, and in bad times, many people saying TGIF…..
What triggered you to focus on mental health?
The phases that the markets go through, affect us all in some way or another. We have to eventually answer investors in those phases, especially the difficult ones.
The decision to focus on mental health stemmed from the realization that one cannot always be right and that if we are wrong, we should accept it, analyze the omission, and move on.
The stress that comes along with market phases and the burden of expectations takes a toll. Still, one needs to remain careful to not let situations overwhelm oneself; therefore, being calm and poised helps one pass through those stressful periods.
Being strong mentally and taking steps towards it, helps. As the saying goes, “It all begins in the mind”; if we can control this, our reactions, and emotions can be kept under check.
What would you recommend investors/traders do in 2023? What could be the ideal new year resolution?
2023 might be a year that tests the patience of investors/traders, and it will also be a period where opportunities will come in the Indian context.
With the macro setup, and our internal demographics holding up, India stands out to be the shining beacon over the next few years. We are at the cusp of a solid economic upcycle with all these factors acting as tailwinds.
This decade and the next belong to us. Maintain your faith and focus on your mental and physical well-being to reap the benefits of what the next few years or decades will bring for all of us.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)