I have been recently reading this book called Power of Habit which gives great insights on human psyche. Habits have a profound say in our day-to-day lives :
The decisions we take, How and why small wins matter ? The cue, the routine, the reward Can we change our habits ? Michael Phelps, Tony Dungy, Claude Hopkins all have something in common. They all created habits which made them successful.
SSY Benefits 1. Account opening The account may be opened by the natural or legal guardian in the name of a girl child from the birth of the girl child till she attains the age of ten years .
You can open only one account in the name of the girl child .
Natural or legal guardian of a girl child shall be allowed to open the account for two girl children only (exception for twins)
Monitoring helps you determine exactly when a goal is on track. It provides you a feedback which incorporated allows you to make rectifications and therefore achieve your goals which you have laid out earlier. Feedback is important as it could tell you whether the path that you have chosen to achieve your goals is correct. It is a vindication of some sort. A reality check. It gives you an opportunity to correct your deviations and take you towards your goal.
A cognitive bias is a systematic error in thinking that occurs when people are processing and interpreting information in the world around them and affects their decisions and judgements.
The concept of cognitive bias has been introduced by Daniel Kahnemann and Amos Taversky in 1972. I strongly recommend to read the book Thinking Fast and Slow which details the working of our brain.
There are several biases that we should be aware of whenever we are making decisions :
In my initial spotlight, I reviewed Parag Parikh and how well it has done giving double digit growth (50%) since April 2020 and 31% since YTD . You would think that it would be quite difficult to keep giving double digit growth. However, since my last review, Parag Parikh Long Term Equity Fund has given a growth of 12% How Parag Parikh LTEF has shifted its sectors ? Parag Parikh - Sector Exposure How has the portfolio performed ?
