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Last week, the stock market had some ups and downs
- Sensex: The Sensex index closed at 66,009.15, which was down by 2.70%.
- Nifty: The Nifty index closed at 19,674.25, showing a decrease of 2.57%.
These numbers represent how well the stock market performed over the week.
Now, let’s talk about a fascinating story that shows how life can take unexpected turns:
Michael Carroll’s Remarkable Journey
When Michael Carroll was just a toddler of 1.5 years, his father went to jail for a serious crime. Michael’s early life was filled with challenges, as his parents divorced when he was seven, and his father passed away when he was only ten.
His mother remarried multiple times, and one of his stepfathers treated him poorly. Due to his difficult upbringing, Michael had trouble with his studies and attention.
At the age of 13, he got into trouble and was arrested for trying to steal from a shop. It was during his time in jail that he finally learned to read and write properly.
At 19, he was working as a garbage collector when something incredible happened. He bought a lottery ticket and won nearly 10 million pounds, which is equivalent to around Rs 100 crores today.
Michael’s story is inspiring because it shows that life can change dramatically, even after facing tough times.
Investment Caution – Red and Yellow Flags
Now, let’s discuss some important investment advice:
When it comes to investing, there are red flags and yellow flags.
Red Flags: These are easy to spot and include things like unreliable management and companies that provide false information. It’s best to stay away from investments with red flags.
Yellow Flags: These are a bit trickier. Yellow flags are investments that might sometimes work but often don’t. They’re a bit like buying lottery tickets. If you don’t fully understand what you’re doing, it’s usually best to avoid them.
Here are some common yellow flags:
- “Next Big Thing”: Sometimes, people hype up investments as the “next big thing.” While this can be true, it’s often not. Be cautious and do your research.
- “This Time It’s Different”: Don’t fall for the idea that the rules have completely changed. Usually, the old rules still apply, even if there are occasional exceptions.
- “Guaranteed Returns” and “No Risk”: There’s no such thing as a guaranteed return without any risk. Even seemingly safe investments carry some level of risk.
- “Penny Stocks” and “Turn Around”: While some penny stocks succeed, most remain low-value or go bankrupt. Be careful when investing in these.
Remember, it’s crucial to do your homework and seek advice from experts before making investment decisions.
Aslo read Stock Market daily Update News
Quick Takes – Recent Financial Stock Market News
Here are some quick updates from the financial world:
- JP Morgan plans to add Indian bonds to their emerging markets government bond index in June 2024.
- The Bank of Japan has decided not to make any changes to its interest rates.
- Private equity and venture capital investments in India have risen by 18% in August compared to the previous month.
- The US Federal Reserve has paused interest rate hikes for now after increasing rates 11 times since March 2022.
- The Bank of England has maintained its rates at 5.25% after 14 rate hikes since December 2021.
- Global debt reached $307 trillion in the second quarter of this year, according to the Institute of International Finance.
In addition to financial news, “Sacred Ensembles of the Hoysalas” in Karnataka has been added to the UNESCO World Heritage List. Also, September 30 is the last date to submit old Rs 2,000 notes, and the Indian government has increased the windfall tax on domestically produced crude oil.
That’s a wrap for this week’s financial updates. Stay informed and make wise investment choices.