Rare video: Dolly Khanna Secrets To Investing & Wealth | How To Build Wealth: Rajiv Khanna

[Music] So all right fine now I come to my second part of or the third part I had the professional life I had the business life and I still run a business that's

okay and I therefore 979 95 I first time saw some money and I decided to put majority of my money in the business saying listen I'm doing it for my

personal satisfaction or gratification to be active and so on and I put part of majority of my wife's money into investment and I knew nothing at all

about investments and I put them in fixed deposits certificate of deposits and so on and somewhere around 9798

we had a neighbor whose son was working in a company called Satyam computers so I said yeah this guy is working Satyam computers let me invest some amount of money in Satyam computers

And then I realized these stocks were going up virtually 5% every day and I said this is very good and I decided

therefore to put majority of my money into the so-called software stocks and this particular point of time these stocks were going up every day and I was

a very wealthy man. I was a genius and I I did not know anything wrong could go on go on. Uh so and let's say you know

Satyam or Infosys was listed in NASDAQ and every day I would compare the prices of Infosys in India and compare its price to NASDAQ and I'd find that

Infosys was being list quoting at 30 to 40% higher valuation NASDAQ than in India. So I said the Americans are smart

India. So I said the Americans are smart guys. We are the stupid guys. If they

guys. We are the stupid guys. If they

are valuing it at 30% higher then I got it wrong and I therefore had this money and sure enough let's say if I started

with uh you know 6 rupees let's say okay I six or eight rupees by 20

March or April they had become something like 11 times h and I was a genius and then came the com bust

And the stocks fell and fell and fell and fell and at the end of it all what was left was 25 or 30 rupees. So it

started as 6 rupees and I ended up at 27 28 rupees but I still made money. So my

this particular investment group where there's another very famous uh fund manager called Narin he was also member of it and he was on the camp which felt that the software stocks were highly

overvalued. He was also right. They were

overvalued. He was also right. They were

over valued. But I hadn't done badly. I

had also made my money three or four times in those two and a half years which is a mind-boggling CAGR. And then

I said I don't understand stock market.

And I therefore decided to put back my money into uh you know back into fixed deposits or debt funds and so on so forth. But that interest in stock market

forth. But that interest in stock market was still there. And somewhere around 2003 2004 I decided to

go and buy a flat in Delhi from a company called Unitech and I went to their offices. The offices were you know

their offices. The offices were you know most builders have very good offices.

The project was nice everything. So I

decided to investigate a bit about the company. The company was available at a

company. The company was available at a valuation of about 100 crores and city bank and some other two or three very

major foreign fund managers own 55 5% of the company and I said look the office itself is worth 100 crores I'm sure it's worth a lot more and I decided to put some small sum of money maybe five lakhs

or 7 lakhs or rupees on that particular thing and uh forgot all about it those days you know I was not watching the portfolio on a daily basis and things

like that. And therefore in 2008 all of

like that. And therefore in 2008 all of a sudden there was this big boom on the real estate stocks and this five lakhs or 7 lakhs had become almost

25 crores. So therefore that was a great

25 crores. So therefore that was a great thing. I was also lucky in many other

thing. I was also lucky in many other similar things which happened in this particular period. Uh my wife used to

particular period. Uh my wife used to bring a product called FEM home which is a bleach and I saw this and I said listen this is a company which is

probably will be acquired by somebody having sold my business and sure enough it got acquired by Dber and money became free for time. So I was perhaps lucky I

was also following what Peter Lynch calls seeing what sells. Similarly

there's another product called Neutralite which my wife brought. I

found out which company was making it, invest in it, became a three four bagger. So the net result was I did

bagger. So the net result was I did particularly well from the period 2003 to 2008 and 2008 I built a case. I said

listen everybody said Indian markets are highly overvalued and I said what are we talking about? Indian markets are not

talking about? Indian markets are not overvalued. Indian markets is only the

overvalued. Indian markets is only the beginning. A small company in America

beginning. A small company in America dealing with every product. Niche

companies are worth billion billions and billions of dollars. In India, we still talking about these companies available for 100 crores or 50 crores or 70 crores or maybe 500 crores. This they India is

going to be a country as big as America and therefore this is going to be this.

And how wrong I was.

2008 the so-called leman crisis happened and stock market fell all over the globe.

The Indian small cap index from 2008 whatever time it did happen I think it peaked around January 7th or 8th and by

March of 2009 the Indian small cap index had fallen by 90%.

So if you had 100 rupees by March of 2009 despite everything that you know we talk about the big Indian story we had if you had invested just in the index

itself you would have lost 90%. I had

lost 75% of my wealth and fortunately for me I manage my wife's money. She does not ever ask me

wife's money. She does not ever ask me what is the portfolio worth? Where have

you invested in it? And you know our lifestyle has not changed whether we have the money or not. So therefore that is okay. So nobody ever asked me

is okay. So nobody ever asked me whatever it is. But uh you know we we held on to the business. And in March of 2009 I said listen I I think this is this is just too much. I had lost too

much money and I started selling it and when Rajiv Kandanda starts selling the stock market starts going up and therefore I was quick enough again

to get back to the market and therefore I didn't you know life has been very very kind. So let's say if I started

very kind. So let's say if I started with 6 rupees today it's worth about 2,000 rupees. So therefore it's it's a

2,000 rupees. So therefore it's it's a mindboggling CGR.

Do I have the capacity to do so? I don't

think so. It was bit of luck, a bit of everything. But that's how well I have

everything. But that's how well I have done. So that was that that's what I'm

done. So that was that that's what I'm writing. People put me on some sort of a

writing. People put me on some sort of a pedestal. People keep writing about my

pedestal. People keep writing about my portfolio and so on so forth.

[Music] I was invited by COC. I normally don't give interviews at all on my stock market this sing but uh I was invited by

COC and since I I requested them from charity and they' given me the charity I had no I could not refuse them and so I had to sing for my charity so I went there and I I said listen I I thought I

will call this stock of mine as the power of stupidity because I was in certain cases far too stupid not knowing when to sell a stock and therefore it held on and it did well. There is some

merit in what I'm trying to tell you.

There's a very large fundhouse called Fidelity. And now Fidelity at one point

Fidelity. And now Fidelity at one point of time decided to find out who the best investors were in their entire portfolio and they listed out some 50 to 70 names

and they said listen what makes them great and they went there and they found most of them were dead. So therefore this buy and hold

dead. So therefore this buy and hold does work.

But non-creation or wealth there is something that you you you must hear and this is the power of compounding and this is the main thing in life and I

think power of compounding Albert Einstein is rumored to have said that is the eighth wonder of the world and let me elaborate

uh it was around 1625 or 1630 the early Dutch settlers came to America and bought the Manhattan island for a

princely sum of trinkets which were worth about $24.

The entire Manhattan Island. The big

thing in the stock market that is talked about is who got the better deal.

They bought the Manhattan Island for $24. So therefore anybody will say

$24. So therefore anybody will say listen you know Manhattan Island is worth a lot lot more. But if you put in that $24 US

for this period of 390 years or whatever it is at 10% interest today you would be sitting on 150

quadrillion dollar and a quadrillion is something a billion is something which is followed by nine zeros. A quadrillion

is something which is followed by 15 zeros. And with 150 quadrillion dollars,

zeros. And with 150 quadrillion dollars, you can today buy almost all the assets in the world. So therefore, this power of compounding is something which works amazingly well and therefore first thing

that you need to do is if you're planning to invest, invest, start investing at a young age. It helps a lot. I started the age of 51 52. Please

lot. I started the age of 51 52. Please

all of you start investing and start investing way now. uh if you want to create wealth, there is nothing better than the stock markets because it's a

puzzle and you can do it. If you go and see the list of the top 200 Americans in America, at least 30 of them would be from the stock markets. These are guys

who have the capacity to risk and they have created great wealth.

[Music] I'll talk to you on some of the great investors. Now

investors. Now uh in India we have this guy called Rakkesh Chunjanwala.

Now Rakkesh Chunjunwala is a chartered accountant and started with virtually no money at all but he would in you know he was a great investor capacity to take

amazing amount of risk. Today he's worth almost $2 billion.

And there is an interesting uh conversation that he had. He said I when I got married my wife was relatively from a wellto-d do family. So he kept

she used to ask me every now and then that when is the when are you going to get an air conditioner and he says I don't I didn't know at that particular point of time when I'm going to get an

air conditioner. But then he said there

air conditioner. But then he said there was a budget of Madu Danwart which came in and everybody thought that Madu Dandwart is a socialist and I thought differently. I

had worked out some equation of what what cast or what type of family background that he came in and I invested heavily at that particular

point of time. He says that evening the day the budget came my wealth was 4 crores of rupees. I reached home at 11:30 at night. that particular evening

my wealth was 20 crores and I told my wife Raika AC a so this is in India I I don't think you

know uh there's only one guy who's made money in the stock market which is worth $2 billion and none of us have are close to a billion dollars at this particular

point of time the next rung so Rakkesh Chanula stands out for an extraordinary risk taker but he has created that amazing wealth we we may not think much

about his current set of investments but nobody can take away that success from him. So therefore that's one area who is

him. So therefore that's one area who is a great this thing Warren Buffett you people have all heard he's an amazing investor he was lucky enough not to get

into Harvard and therefore he went to Colombia University there was this great professor called Benjamin Graham who was teaching there Benjamin Graham ever

grade gave in a grade only to one person in his life and that was Warren Buffett.

Okay. So therefore

Warren Buffett is an outstanding investor. In stock market circle there

investor. In stock market circle there is a theory called uh the efficient market theory and people have won Nobel prizes for this and so on and there is a point of view

that listen over long periods of time you cannot outperform the market at all.

Now uh Benjamin Graham wrote a book called the intelligent investor. I would

urge any every one of you to read that because I think it's a great book and in the present edition of the intelligent investor uh Warren Buffett has written a

chapter about various people who trained under Mr. Benjamin Graham at least six or seven of them all in settled in

different parts of the country of United States they had outperformed the market very very substantially therefore he debunks this entire theory of the

efficient market but Warren Buffett is an amazing guy but there are others as well there's another guy called Peter Lynch now Peter Lynch is somebody I I

follow to a very great extent he was a fund manager over a 15-year-old or 18 year period that he managed funds. His

CAGGR was much higher than Warren Buffett but he worked very very hard. He

had thousand companies in his portfolio and without computers he could track it and his books are extremely interesting.

I would urge every one of you to read.

Then there's another guy called George Soros. Now George Soros is again an

Soros. Now George Soros is again an absolutely a remarkable guy. He he he was a refugee from Hungary. He did his

doctorate in philosophy from I think Oxford or Cambridge. He's written a book called the alchemy of finance and I request you to read it. I have tried to

read it four times and I have not understood a single word of it.

Absolutely none at all. But George Soros is known for various things. One is the time that when he broke the bank of England and the way it works is this. He

felt that the British pound was overvalued and therefore the British government will have to devalue the currency and the British government did

not want to devalue the currency. So Mr.

Soros kept selling the British pound and the British government kept buying it but the pressure of George Soros was so high that British government could not take the pressure and therefore the

government decided to devalue the currency. On that particular one day Mr.

currency. On that particular one day Mr. George Soros made a billion pounds.

That's a lot of money. A lot of money.

And what what is not known is that when he made that billion pounds, he had borrowings of close to 7 billion pounds.

And that's how big money is made. You

need to take big time risks to make big money. So George Soros is amazing.

money. So George Soros is amazing.

Absolutely. He had a guy who was working for him. George Soros would would uh

for him. George Soros would would uh every now and then want get a successor for himself. a guy called Stanley Draken

for himself. a guy called Stanley Draken Miller. So the Stanley Draken Miller one

Miller. So the Stanley Draken Miller one day said, "Listen, I had this particular position of close to $500 million on a particular uh thing which I felt was

going to do very well." And Soros walks in and hears him out and says, "Listen, okay, yeah, that's a good position." And

in a fraction of a second, he says, "Double the position." That that's how quick Solus is. He's worth about 28 $30 billion.

At one point of time, Standard Reken Miller told him, "Listen, I can't work with you and I'm leaving." So George Soros says, "No, you don't leave. I will

leave." So George Soros goes off to Europe. His pet hate is the communists.

Europe. His pet hate is the communists.

And therefore, for next 5, seven years he was working trying to fight the communists all over. And he left everything to Standard Ducken Miller. Of

course, he came back. Standard Draen

Miller is also worth billions of dollars today. But that that these are the

today. But that that these are the interesting guys. And since most of you

interesting guys. And since most of you are great, you know, mathematicians, there's another guy called Jim Simmons.

Jim Simmons was a code breaker in the American army, which meant that he broke the encrypted codes, how messages would be sent. And he got into trouble because

be sent. And he got into trouble because he was not in favor of the Vietnam War, all that. But he at some point of time

all that. But he at some point of time decided to leave the American army and set up his own uh hedge fund. He did not

employ a single guy from the stock market industry or from the Wall Street.

He brought in pure mathematicians to do so. And he created certain algorithms.

so. And he created certain algorithms. and what he has done over a 15 or a 20 year period he's compounded money at 98%

CAGGR for the period of 20 years this is a mindboggling performance absolutely so if any of you like mathematical

challenges please emulate Mr. uh Simmons he's also worth 20 $25 billion I you understand what a billion dollar is these are mindboggling figures

uh $25 billion would put you in the same league as MKkesh Abani Almas who's worth $40 billion is worth 1 lakh 50,000 cr so therefore that's the sort of money you can create in the stock market then

there's another guy again I would like to one last one and that's guy called Paul Johnson now the time that talking about the

Leman crisis, there were some people who realized that the real estate industry in America was a was going to bust. And one of these

guys was a guy called Paul Johnson who read a hedge fund. This thing the conventional wisdom at that particular point of time is that look real estate

industry's never done this. Property

prices keep going up and keep going up.

Now, somebody found something called credit default swaps and Paul Johnson bought it and he was a loner.

Absolutely. He would walk into the office and it was against all conventional wisdom that he was buying these credit default swaps. If things

were so bad that his investors said, "What the hell are you doing?" He was spending other

you doing?" He was spending other people's money. He could not face his

people's money. He could not face his own staff. They thought he was there was

own staff. They thought he was there was something terribly wrong with him. and

he would come to the office and he would lock himself inside the office so that he did not have to face this stuff and till the 15 days before the so-called

Leman crisis happened the entire Wall Street was saying look everything is hunky dory and then this entire collapse does happen and Mr. Paul Johnson's

company makes something like $12 billion in one year. He himself makes $3 billion. So if most of you if you want

billion. So if most of you if you want to do that, of course that doesn't cover him. But there's another book or another

him. But there's another book or another movie that's available called uh >> the big shot. Yeah, that's right. It's

available on Netflix. Please have a look at it. But again, somebody's but these

at it. But again, somebody's but these are about different set of people. But I

think it's absolutely amazing.

[Music] Okay. two things uh the best definition

Okay. two things uh the best definition that I've read and I think which is which should be followed though none of us can follow it best time to sell a

stock is when it is not a buyically speaking you know when you see a company and you say listen a great valuation and I need to buy it but at some point of time the valuation has written up and

you said I don't want to buy then theoretically you should be selling it off and buying something else which is better but I don't do that because

markets very often tend to take it to great valuations and so on and therefore for example I I stopped buying you know Amaraja batteries is 2,500

crores but I didn't start selling it necessarily and the market capitalization went to 13,000 cr okay I thought it was I remember there was a

stock uh uh called TTK prestige and I bought almost more than 1% of the company and I started buying it at 60 rupees and I kept buying it at up to 400

rupees and at 450 I thought it had reached a fair valuation. Today the

stock is worth 6,000 rupees. So I

therefore wait till the stock stops performing. H I today look my portfolio

performing. H I today look my portfolio as something which is being pulled by 500 horses. M and I therefore tend to

500 horses. M and I therefore tend to exclude out the horses which are running slowly and therefore there's bit of a technical that I did not the swiggly

charts and as Lynch would say listen all these guys take great things but do one thing take out 100 of these charts show it to a technical experts and tell him

that listen you think the stock will go up and go down the odds are there 50/50 they will get it right so therefore I don't follow that but I think that's the best definition I don't follow it I

follow it when I find something better and this stock is started tanking or alternately I al I also at that particular point of time see whether

it's worth a buy and I most of the time the valuations have anyway gone through fairly high figures therefore you do this and you get into something else for

example today I've been selling lots of stocks which are not doing well and buying rain industries cuz I think it will give me the next 10% and to me a 10% is a great return in this sort of a

market. So,

market. So, [Music] but generally speaking, if you want to create great wealth, you got to buy good businesses. You got to find good

businesses. You got to find good managements. Managements who have a

managements. Managements who have a vision. H

vision. H managements who will who will make the company grow faster. Now, I don't have the skill sets. I'm not a great businessman to be honest with you. I do

this to remain alive to the thrill of doing whatever I do whether to make cheese or ice creams or so on it keeps me busy but if you can find the person who you think has the vision or if you

have the vision please go ahead and do it yourselves but if you don't have it then I think stock market is the best place a lot of people think stock market is risky I disagree with them fully look

if you ask anyone on the man on the street and say listen how are you going to make money he'll say listen I need to put set up a business. Now all of us don't have the resources to set up a business but what is available in the

stock market both India and globally are some of the world's best businessmen and you could partner them and therefore that's that's it you you should not look

that listen I bought a stock you're buying a piece of business and therefore you don't have you know don't need to be a genius to recognize this that if

Indian economy is worth whatever it is worth $2 billion it. Thanks to all of you, this entire country is going to be worth the economy is going to be worth

$5 billion. Therefore, India is going to

$5 billion. Therefore, India is going to be a great place to create it. Now, if

you have the skill sets, go ahead and set it up. And if you don't have the skill sets, partner some of the best businessmen in the country and therefore you own businesses. I don't see myself

owning a particular stock. I see that I'm a partner to Rain Industries. here

is this great guy who can create a global empire which I don't have the ability to do so and therefore I'm partnering him and as long as he does well I'm okay and there's one big

advantage I run a business and I'm looking for a customer I'm 71 years old for the last one year I can't find a customer but when you partner a guy like this if he's not doing a job you can get

out of the business in fraction of a second and get on to another business which is far better.

So I think if you it's an interesting thing to think about but if you have the ability and I I'm not saying that you should all get into the stock market but if you're looking for the best salaries

in this world then the place to be is the stock market cuz it's it's the only business where one man can create billions of dollars in I run a business

I need to have 500 people thousand people to pay it wealth but this is this is an amazing [Music] I'll be honest with you, I don't

understand it very much.

But you know those who have invested have done well. We do not know when the regulators will put a thing on this.

Whether you're on the right side of the raw, the wrong side of the law in India, you'll be very very careful doing that.

But uh you know it's something which if you invested early and you made money I mean nobody I realized one thing never argue with success. Therefore if

somebody's made a billion dollars I say hats off to him. I don't understand it so I'm okay. But

[Music] look, I I don't understand these are stop- losses are very technical terms, but it's a good thing to happen. And I

do follow a certain degree of stop-loss and my stop-loss works not purely I I'm not a day trader. I don't trade on a daily basis. I don't have the skill sets

daily basis. I don't have the skill sets for that. I'm not saying it doesn't work

for that. I'm not saying it doesn't work but I let's say buy a particular stock and the stock over the next 2 months or 3

months goes down by 15% or 17%. I

normally would exit the position and the reason for this is that I feel that something was wrong with my thesis that others have not bought it and therefore there was something flawed in my logic

and I think it helps a lot. I think

what's important in the stock market is not necessarily to find the winners but to make sure that you weed out your losers much faster and I think that

works a lot more. Majority of my time makes goes around making sure that I remove my losers quick enough and if they if on the other hand at some point

of time they gain start rising then I again enter the stock. So I have I I suffer from something called sleep apneoa which means I can sleep for about 5 hours at one particular point of time

and then I have to stay awake for about 2 hours. So I'm awake every night at

2 hours. So I'm awake every night at about 3:00 and 3 to 5 I'm awake and therefore out goes my email every night to my broker saying please sell the

following stocks and I therefore learned this out. I I I disagree with Warren

this out. I I I disagree with Warren Buffett against buy and hold. If things

that are not doing well, I need to get them out quickly enough. Yeah. I afraid

I do not use technicals very much. I

have some idea if the stock is going up or going down. To me, that's too much of a micromanagement. But I I do believe in

a micromanagement. But I I do believe in I there's a guy called William O'Neal who's written some very good interesting books and he follows something called the Canelin model. I follow it

intuitively. I do not follow it

intuitively. I do not follow it rigorously. It's worked well for me.

rigorously. It's worked well for me.

[Music] But sometimes you get it wrong. But you

know, you start looking at it, you start looking at the business model over a period of time, you get a certain experience. But things can go wrong

experience. But things can go wrong sometimes and it has this happened to me uh with particularly with Satium computers once and I I have never never

never uh traded as I said and it was only in case of Satim computers I bought what was uh you know on futures or

something like that and um uh because I said it was a no-brainer because uh the company was available for 700 crores or,000 I don't know what the figures

were and the company claimed that it had cash of 4,000 crores or something, right? So I let's say invested

right? So I let's say invested a cr of rupees and uh in 5 days time that was worth 1

and a2 crores of rupees and I said listen this is the first speculative income I've ever had and therefore I'm going to buy myself a fancy car and uh

but next day this guy that very night he announces that listen I'm sorry all my reports were wrong and I lost almost 70 80 lakhs of rupees so that it that's part of the game it these things do

happen but uh generally speaking you develop an intuition you you see this thing you understand what business is doing well but all of us can make

mistakes despite that but u that's the kind I think you with experience you'll gain that [Music]

therefore this is it now what are the life lessons from my whatever journey my roller coaster journey Uh well first obviously I think all of

you can live your dream you only live once.

Please go ahead and live your dream.

Whatever you want to do do it please. Uh

that that that's the first thing I would urge every one of you to do. I I found this uh lovely quotation from uh George Bernard Shaw. A life spent making

Bernard Shaw. A life spent making mistakes is not only more honorable but more useful than a life spent doing nothing. So go ahead and do whatever you

nothing. So go ahead and do whatever you want to do. Please make your mistakes.

Live your dream. That that's one. The

second thing is give your give your life a best shot. You're going to live only once. Why should you succeed? To be

once. Why should you succeed? To be

honest with you. And what should be the metric for success? I don't think the metric for success should be the amount of money that you make. I think every one of you has the ability to success.

If I see my driver, he's successful. If

I see most parents bring up their children well, they're very successful.

Therefore, the metric for success cannot be money. I mean, if you're doing

be money. I mean, if you're doing research and you're doing damn good research, I think you're far more useful to the country or to anybody else or to the society than a guy who makes money.

Therefore, I think the first thing we must remember that making money cannot be the the metric for success. The

metric for success is how well you've done based on your potential. We were

lucky. We went into IIT. We were born in a particular type of family. So

therefore, don't look down at a person who hasn't done well. Every man has a story to tell. And every man is successful, who works to his full potential. And I think that's important.

potential. And I think that's important.

But you must attempt to be as successful as you are because your parents expect it of you, your institution expects it from you, your country expects it from

you and the society expects it from you.

Therefore, please do not waste your education. Please give life a best shot.

education. Please give life a best shot.

You're going to live only once. Uh but

on success, there is also an interesting quote and I would uh read it out for you. What is success? As I said, success

you. What is success? As I said, success at the age of four is not being in your pants, right? Success at the age of 12

pants, right? Success at the age of 12 is being a great cricketer or a sportsman.

Success at the age of 18 is having a boy or a girlfriend, right? And success at the age of 50 would be on to be on top of your profession. Then you when you reach the success at the age of 75 again

it's your ability to make it with your wife or companion and then at success of age of 90 it's again not being in your pants is also a great success.

So that's it. So work hard and there is a Hindi saying called basically translated it means man raise yourselves to such heights that God asks

you what you want there is no other I have no I don't know of any other way unless you work very very hard you're going to be successful bring it bring all the passion that you can do to your

job and even if things are not But you will gradually open doors. So therefore

you must be successful that everybody you know you want you to do that.

My father was in the judiciary.

Therefore we used to be in Punjab and I would shift houses every 2 years or 3 years. I had my early education in

years. I had my early education in Firospur, Ambala and then finally in Delhi and it was in those days

by the year 10th my father got transferred to Chandigar and therefore I had to stay with my aunt and I did my class the 11th class or high second year it was called in Delhi and since

everybody else was applying for IIT I also decided to apply knowing that you know maybe something would happen but it was more because others were applying

I was a below average student in the family or above average student in the school but nothing great about it. So

when I went to IIT I found that everybody had taken coaching classes and so on so forth and I was very very sure that I wasn't going to get into IIT cuz I had done none of those things. I was

so sure about it that there were four exams at that particular point of time and the final exam was on 2 to 4 in the afternoons probably an English exam and

I had fixed up my with my friends that I'm going to go and see a mishu at 3:30.

So I went into the final hall and uh I found that I had misplaced my bit card and I very despondently walked back to

the place in Delhi which is about a kilometer away on a dirty Delhi road and despondently looking down and seeing maybe I'll find that midc card and I was

just plain lucky enough to find that mid card and that's how I finally managed to write the exam but of course I did go and attend the issue. So therefore

that's how seriously I was taking I thought were my chances of getting into an IAT and then as luck would have it I we were holidaying in a place called

Delhausi because in judiciary you have 2 months vacation and somebody was nice enough to send us my interview call and I it reached in Madras in Delhausy in

Himachel one day earlier and I took a train and landed up in Delhi and they said listen if you got to do chemical engineering you've got to come to Madras. as and that's how I landed up in

Madras. as and that's how I landed up in Madras.

Having landed up in Madras, what did happen was I I felt unwell and I went to the doctor and he said how are things and I said listen I'm not too happy I'm

not feeling well I am going home. So

this was unheard of and therefore they thought I was being dragged very badly which was fortunately not the case in my case. The director heard about it that

case. The director heard about it that some student planning to go back and I had written us in those days there were no telephones and I written a letter to my father I am coming back and for next 10 days he would go to the bus stand

every day thinking that I would land up in that bus but these guys therefore decided to ask me convince me to stay and maybe I was just too lazy to anyway pack my luggage and go and I stayed back

there for the next 5 years and that that was it. There was nothing great about my

was it. There was nothing great about my IT education. I was an average student

IT education. I was an average student but there's one particular year and which must I thank all the authorities in IIAT for it and this is in the my

third year my brother was getting married and therefore I had to miss one exam and I think the subject was kind of

I did very badly in that particular subject because I missed one exam and therefore my marks were not sufficient.

I was fortunate I I didn't know I got passed and I moved to the fourth year. A

fellow student of mine who failed that year told me listen you were one shot mark shot that particular year and we had the the authorities decided to give

you that one mark extra as a grace mark and therefore I passed out in 5 years that changed my life. So thank you very much everybody in IIT for giving me that

one grace mark.

So thank you very very much. So I I I was a very average student. I was I'll tell you how average I was in a class of 40. My rank was 20th. That's how average

40. My rank was 20th. That's how average I was. Okay.

I was. Okay.

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