Wise Wealth Advisors

D.Muthukrishnan (Muthu), Certified Financial Planner- Personal Financial Advisor

  • Blog Stats

    • 782,523 hits
  • Enter your email address to follow this blog and receive notifications of new posts by email.

    Join 724 other followers

  • Follow me on Twitter

Conviction is contagious

Posted by Muthu on December 12, 2013

I’m a shareholder in City Union Bank (CUB). Recently a magazine article mentioned that the CEO of CUB, Mr.N.Kamakodi does not have a demat account. The article was very brief and unclear. As a shareholder I had some queries on the issue. So I wrote an email to CUB’s CEO asking for certain clarifications. 

Mr.Kamakodi was very prompt in responding. In the course of the reply, he mentioned that nearly 100% of his savings are in CUB both in the form of shares and deposits. He also mentioned that he has not sold a single share of CUB so far.

That mail greatly increased my faith in CUB and its management. Conviction can be contagious and I was impressed with the conviction level of the CEO.

I was reading an interview in Mint this morning. It was with Mr.K.N.Sivasubramanian, CIO of Franklin Templeton mutual fund. In the course of the interview he has mentioned that almost 100% of his financial investments are in the schemes of Franklin Templeton mutual funds. Other than that he owns the house he lives in and has some exposure to tax free bonds. That’s about it.

I’m both an investor and advisor of Franklin Templeton. Such a conviction and commitment from the CIO can be a big confidence booster as I’m in the profession of managing other people money. I take my fiduciary responsibility both seriously and sincerely.

I wish that more fund managers follow his foot steps. If they are already doing it, they need to make it explicit. More than all advertisements, this one act can inspire confidence in people.

As you may be aware, Warren Buffett has around 99% of his net worth in one place- his company, Berkshire Hathaway. This conviction has inspired many of his investors.

Hats off to the above two gentlemen- Mr.Kamakodi and Mr. Sivasubramanian

Sirs- Your conviction levels are amazing and may your tribe grow.

One Response to “Conviction is contagious”

  1. Ilyas said

    I think same is the case with Mr. Prashant Jain (HDFC MF) and Mr. Parag Parikh (PPFAS).

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

 
%d bloggers like this: