Stock Story I : Retail Therapy
A long time ago, may be in 2003/04, I am not remembering exactly right now, Big Bazar /Pantaloon opened there first Retail store in Mumbai, at Phoenix Mill. There were lot of Ads., Campaigns during that time. May be attracted by these promotions I decided to check out the store.
So one Sunday evening I went to the store.
There was a 'NO ENTRY' sign at the entrance. The store was bursting with people. On this wonderful Sunday, I had spent so much of my 'precious!' time to come all the way to Lower Parel, and they refuse entry to ME?
Unko pata nahi hai ke mai kon huo, sabak sekhana padaega.
To make them aware of 'mai kon hu" and to teach them a lesson, I took the typical Indian 'Juggad' way out. If entry is closed, no problem, go to the Exit.
And so I went to the exit (from outside) and what do I see?
There is a huge queue at all the Cash counters. Everybody is coming out with multiple carry bags and only after paying the bill. Each bill is not less than Rupees One thousand. (One thousand was a big amount way back (!) in 2003/04).
Here I was a 'lukkha' having gone to Big Bazar for 'Time pass', enjoy the free aircon in the Mumbai summer, and have a Sunday outing at somebody else's expense.
And here was Big Bazar bringing goods on credit and selling them in cash as if there is no tomorrow and yet daring to refuse its customers a legitimate entry.
My Ego was hurt. I had to take my revenge!
Next day morning, I rang up my 'contact', to give the supari.
The don / Stock broker refused to take my order. His reasoning, the promoters of Big bazaar, are 'Chors'. ,
'unka reputation market mai acha nahi hai.' (Sorry Mr. Rakesh & Kishore Biyani).
I said double the 'supari".
My reasoning 'India mai dhandha karna hai to ch... to hona hi padagana', nahi to mai our mere sab dactar-bhai bhi businessman nahi ban jata'.
The rest as they say is History.
Share of Pantaloon was at Rs 30/- then. It's at Rs. 300/- now.
It was at a Face value of Rs. 10/- it's at a face value of Rs 2/-.
There seems to be an unwritten rule on Wall Street: If you don't understand it, then put your life savings into it. Shun the enterprise around the corner, which can at least be observed, and seek out the one that manufactures an incomprehensible product." - Peter Lynch
So one Sunday evening I went to the store.
There was a 'NO ENTRY' sign at the entrance. The store was bursting with people. On this wonderful Sunday, I had spent so much of my 'precious!' time to come all the way to Lower Parel, and they refuse entry to ME?
Unko pata nahi hai ke mai kon huo, sabak sekhana padaega.
To make them aware of 'mai kon hu" and to teach them a lesson, I took the typical Indian 'Juggad' way out. If entry is closed, no problem, go to the Exit.
And so I went to the exit (from outside) and what do I see?
There is a huge queue at all the Cash counters. Everybody is coming out with multiple carry bags and only after paying the bill. Each bill is not less than Rupees One thousand. (One thousand was a big amount way back (!) in 2003/04).
Here I was a 'lukkha' having gone to Big Bazar for 'Time pass', enjoy the free aircon in the Mumbai summer, and have a Sunday outing at somebody else's expense.
And here was Big Bazar bringing goods on credit and selling them in cash as if there is no tomorrow and yet daring to refuse its customers a legitimate entry.
My Ego was hurt. I had to take my revenge!
Next day morning, I rang up my 'contact', to give the supari.
The don / Stock broker refused to take my order. His reasoning, the promoters of Big bazaar, are 'Chors'. ,
'unka reputation market mai acha nahi hai.' (Sorry Mr. Rakesh & Kishore Biyani).
I said double the 'supari".
My reasoning 'India mai dhandha karna hai to ch... to hona hi padagana', nahi to mai our mere sab dactar-bhai bhi businessman nahi ban jata'.
The rest as they say is History.
Share of Pantaloon was at Rs 30/- then. It's at Rs. 300/- now.
It was at a Face value of Rs. 10/- it's at a face value of Rs 2/-.
There seems to be an unwritten rule on Wall Street: If you don't understand it, then put your life savings into it. Shun the enterprise around the corner, which can at least be observed, and seek out the one that manufactures an incomprehensible product." - Peter Lynch
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