Changing Opinions: Market and Mahatma

“When the facts change, I change my mind. What do you do, sir?” ?There is a controversy around who said these words: Keynes, Paul Samuelson or…

When the Facts Change, I Change My Mind. What Do You Do, Sir? – Quote Investigator

Regardless of who said the words, (in India the favourites are Chanakya, Ratan Tata, and Narayan Murthy to attribute quotes), the rationale behind them makes intuitive sense to most of us. ?One does not go through life following a perfectly linear path, regardless of what life throws at us. ?We adapt or change our plans as circumstances change because doing so makes us better off.

In markets, this is most applicable.?Nifty of 18000 in October 2021 is not the same as 18000 Nifty of September 2022.?There is a war now going on, plus Fed has now learned that printing too much money causes inflation, which it was ignorant about earlier.??These are facts at very macro levels, at the micro level also the same rationale applies, views on sectors and companies change and then is reflected in the price.?IT was the darling of 2021 and peaked in Jan 2022 though Nifty had peaked a quarter earlier in Oct 2021.??Now clouds of recession have clouded the opportunity to move to the cloud.?In short, markets are all about opinions, and differences of opinions (hence a trade takes place – a buyer and a seller is having different opinions). If no difference of opinions then the stock would be at either upper or lower circuit, till there are differences and trade resumes.?

So changing opinions come naturally to people dealing in any type of market: financial or physical.?

What about the Mahatma and other leaders on a pedestal?

Come October, a ritual starts in India.?Ritual of remembering Gandhiji.?2nd October is his birth anniversary.?It will start with an inevitable WhatsApp reminder a day before.

By 2nd evening itself, the ritual is over.?Politicians from PM downwards have visited Rajghat, sat to weave on the charkha, and kids have tried wearing the dhoti for the first time and hopefully not the last time, Sony and its group of channels will telecast the “Gandhi” movie and others also will telecast movies relating to him if they have the rights for the same.?That he remains the second most revered Indian in the world without a doubt.?Gautam Buddha holds first place. ?

There is a lot to learn from Gandhiji’s life:?He was not a great speaker but a very good communicator.?He said Quit India on 7th August and on 8th there would be non-violent agitations on the roads of the country.?He was able to communicate his ideas across the length and breadth of the country.?He made independence a mass movement, which the revolutionaries were not able to.?

He was a leader who counted among his followers the likes of Sardar, Panditji, Rajaji and more of their stature. ?His quote on the importance of customers in a business cannot be improved upon. ?The only facts we knew about him were all laudatory.??'Generations to come will scarce believe that such a one as this ever in flesh and blood walked upon this earth’ said Einstein and there is no controversy here on this quote by Einstein.?

All of the above is true. But are these the only truths? Fortunately, truth is not binary. ?There are many shades of Grey (Sometimes more than 50 J).?Important it is to know all the shades and then form an opinion.?The link here gives the other side.?

Dismantling Sainthood: Ambedkar On Gandhi (swarajyamag.com)

The other aspects are covered by the good Doctor Anand Ranganathan very well in his article except for the point of Dharma which just touches upon.?“Even if one side is firm in doing its dharma,”?said?Gandhi, “there will be no enmity between the two. He alone may be said to be firm in his dharma who trusts his safety to God and, untroubled by anxiety, follows the path of virtue. If Hindus apply this rule to the Moplah affair, they will not, even when they see the error of the Moplahs, accuse the Muslims.”?

This is the most deviant definition of Dharma. ?Devilishly deviant referring to only “?????? ???? ????:, ignoring the other half ???? ????? ???? ?.??Translated it means: ?

Non-Violence is the ultimate Dharma,

So too is violence in service of Dharma

If the rationale for the Mahabharat war has to be given in a minimum number of words, then it had to be in these four words -????? ????? ???? ? – violence in the service of Dharma. ??

After reading the article by Anand Ranganathan and hearing the other side, can one have the same view on Gandhiji he held before? ??If we Indians were ignorant, about the significant issues and facts, forget about the nuances but how is Einstein supposed to know about it? ?

It is not just related to Gandhiji, people stick to their opinion after new facts.?The same goes for Nehru, ?British rule and the concept of “Choice” that “liberals” flaunt on the matter of?Heejaab.?Even after unrest in Iran, LeLi’s (Left Liberals) still stick to the concept “It is choice”.

Rational and thinking people may change their opinion, but some may not.?Well, they will have to explore their behavioural biases of Anchoring, Self-serving, the Falls Consensus Effect and the Halo Effect.?These people have actually done more harm to some good aspects of Gandhi’s philosophy than the detractors by having no Gandhian Spirit but only rituals on 2nd October.?Rituals are easy, but following the spirit is difficult.?

Hence, I have changed my opinion, have you? ?