Change is the new buzzword all over the world, and if people are not quoting Gandhi on the subject, they are quoting Obama. But there’s one set of individuals who would give much to see a few days, or even a few hours, of no change. They are ordinary investors who are bewildered by the volatile movements of the key market indices, which seem to show no signs of settling down.
High as a kite one day, a benchmark index could plumb unheard of depths the next. Add to this the general economic gloom, job loss, salary cuts and rising prices. Is it any wonder that investors are no longer hoping for a turnaround? They would much rather have a couple of days of ‘no change’.
An individual investor, sadly, has no control over the direction of an index or the markets. But he does have control over how he can keep his financial portfolio relatively insulated and so protect his journey to his life’s goals. Theoretically, anyone can take charge of his own finances, deciding what to invest and where, and then actually making those investments.
But then, theoretically, all of us can perform brain surgery or build rockets that reach Mars. Practically, most of us lack the knowledge, time and inclination to manage our finances. And, pretty much like we would go to a brain surgeon if we have need of his skills, or to an aeronautics engineer for complex flying objects, it makes sense to go to a financial planner for help with our finances. Which is what the cover story is about: why you need a planner, what you should know before signing one on, and how you should choose the right adviser.
In keeping with the mood of change, the information technology industry is showing signs of a turnaround. After the first quarter results of Infosys, we ask if change has indeed come to the IT space.
Talking of change, keep an eye out for the next issue of MONEY TODAY. No, we aren’t going to spoil the party and tell you what it will be like; what we can promise you is that it will be bigger and better. The content will also see some changes, although we will retain the utilitarian value and timeless appeal of our features. And we hope that this change is what you believe in. If it is (even if it isn’t) do write in and let us know.
