I attended on last Saturday a Retail Investors Meet organised by Tamilnadu Investors Association. The chief guest for the day was Mr Deven Choksey from KR Choksey Shares and Securities, Mumbai. He advised investors to stay invested for a period of atleast two years to get multi-fold returns rather than engage themselves in day-trading, which I think is very valid. There were questions on sub-prime issue and its impact on the Indian markets, P-Notes. Mr Choksey feels that these issues would not impact the FII inflow in 2008. Lets hope so.
It was a fairly well attended meet with around 250 participants. My observations were:
1. The most striking feature is the absence of youngsters. The majority of the crowd was above 45 years and hardly 10 people less than 30 years or so.
2. As with all retail investors meet, the idea of the people attending the meet is to get some tips or stock ideas to make some money. Deven Choksey didn't let them down and he quoted atleast 5 or 6 scrips which were duly noted by the participants.
3. People leave even before the "vote of thanks". I still cant understand why they cant spend that additional 5 minutes.
The stocks mentioned by Deven Choksey are as follows:
2. Reliance Industries
3. Micro Tech