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Just Shoot Me

Bala, 28, Gordon Gekko in the making, pseudo-intellectual, cynic, bibliophile, obsessive compulsive ranter...

oru share inga irukku...

April 09, 2008

Today was a particularly taxing day. I was hard put to explain fungibility of a Dematted share to an investor. The investor is a mangayar malar investor (house wife-thinks speculation is part time job-tries day trading-ends up taking delivery of all she trades). She had bought 100 shares of company A a month back at Rs. 275 and 50 shares of the same company at 190 a week back. Today, she insists i sell only the shares she bought last week and not the ones bought a month back. I was trying to explain, once it comes into your D-Mat account there is no difference except in accounts keeping. The conversation started sounding like the kavundamani-senthil vazhaipazha joke. Convinced that i was somehow deceiving her, she complained to her husband and i had to repeat the entire process with him. At the end of the day i had to use a milk-in-the-can metaphor to illustrate what was going on. I don't think they got it in the end.

The next time SEBI moots stricter KYC / investor awareness norms, i won't be complaining.

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posted by Bala, 8:27 PM


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