You don’t have to repeat mistakes others have already made. If you listen, read, and learn about investing from experts and market masters like Benjamin Graham, Warren Buffett, Charlie Munger, Peter Lynch, John Bogle, Philip Fisher, and modern-day masters, it will stand you in good stead. Ganesha’s big ears are symbolic of listening and learning. The market teaches you something new each day. You must have an open mind to learn and absorb knowledge daily. Only if you evolve as the market does will you be able to invest successfully.

Things may not always go according to plan in the market, like in life. It is, hence, important that you adapt quickly and make swift decisions to change course. For example, if you had invested in a company based on a certain thesis and that is disrupted by new regulations or a new technological breakthrough, you have to be flexible enough to quickly evaluate the new reality and change course. If that means dumping the stock, so be it. Not all your investments will be winners; the sooner you realise this, the better for you.

Successful investing is not about trading in and out of stocks at high frequency. It is about holding with patience for wealth creation. However, even so, a change in circumstances can warrant short-term action to guard against wealth erosion. Any such occurrence should also be included in your methodology when selecting stocks to invest in. This is to ensure you do more due diligence before investing in the first place.

The biggest folly when investing in the market is letting your ego get the better of your intelligence. While it is good to have conviction in your investments, such confidence should not be unreasonable or irrational. You must be ready to accept an investment gone wrong and cut your losses. Too often, even seasoned investors get caught in the ego trap. And once caught wrong, they try to rationalise to themselves that what they’ve done is right and the market will soon realise its folly. That doesn’t always happen. If you ever get caught in such a bind, think of Ganesha riding the mouse. It is humility that makes a successful investor. Follow Ganesha’s lead.

Chasing the next 10x bagger is a bad idea. Even the seasoned investors who scout for them will see more bets go wrong than right, but they’ll possibly come out tops on average. Also, avoid risks beyond your comprehension; think SME IPOs. While some might make quick bucks in these a few times in the short run, there is a far higher likelihood of retail investors getting stuck with these scrips after encountering steep losses. Ganesha’s belly is a symbol of contentment and gratitude. Aim for returns based on your risk appetite and stay content with it. To tweak an adage: more ventured, more lost. Don’t tread into waters you can’t navigate. It is better to sit on the edge and watch than sink. Happy Ganesh Chaturthi!