What a dismal status of financial literacy we have amidst us!
Financial illiteracy among investors?
From my bag, I extracted the day's newspaper and unfurled the stocks pages. "How many of you understand these pages?" Suddenly, everybody was ominously silent. My next question was, "How many of you invest in shares?" Manyhands went up cheerfully.
"What is your investment strategy? How do you make your investment decisions?" I asked and looked around. Kiran replied first: "I ask the broker." Pavitra aunty announced, "My friend tells me what to buy and sell." And Ramu uncle said, in a hush, "Don't tell anybody. The trick I follow is to toss a coin!"
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