Humans are never devoid of setting themselves timelines , adhering to them is of course a different story altogether. I have been noticing this behaviour increasing with time but this year this “Date Fixation” reached a new paradigm. In India over the last fiscal year we had 3 important dates
- July 1 – Indias move into a uniform tax era GST
- January 31 – Beginning of the great stock market debate : LTCG
- March 31 – A recurring annual nightmare
While the above two dates are something that was beyond comprehension and its repercussions still unknown, the recurring date of March 31 is something that is always a known phenomena. The frenzy towards March 31 coupled with the other two unknown dates, impacts your normal routine. You start getting calls from your ex-employees, your clients who lost touch with you or from companies suddenly found that there was something amiss relating to a transaction they had with us.
In a nutshell it represents the people who epitomises their efficient way of functioniong stating that they are best productive under pressure. Well, my friend, how can you be productive if there is no struunder pressure if there is no structure to your working. This is exactly what happens especially the March 31 frenzy is where you are trying to sort out your accounting issues , tying up the loose ends (or atleast assuming to) to ensure that the deeds can go under the carpet. Accounts is unfortunately a never ending cycle and with the arms of tax-men deep enough to pervade into any year to dig up our records these dates are merely a formality. However, herd mentality is very much prevalent amongst the masses, we can differ by bringing about a more uniform data collection and disemanting procedure as a businessman or as salaried class to avoid the last minute chaos.
Taking a leaf out of the above situation I see this point being orchestrated by people when they are trading or investing. As taught to us by our mentor Dr C K Narayan , I continue to exhort the same in our training programs that entry is not as important as the exit from a position. Hence it becomes mandatory that we have Plan of Entry, Monitoring and Exit so that we can know when things are not in place and take appropriate decision. Humans are we are we resort to periodic fulmination of covering up our acts and that always does not lead to a very productive output. Accounting system is a little more forgiving than markets. Through Journal Entry you can sometimes correct a wrong decision , markets however are mercenaries, the only language that speaks here is money.
While there is an increasing urge to earn from the marekts it has also become imperative that one needs to shore up their mental framework to develop an ability to build a structure . A structure that one can adapt and implement consistently over a period of time.