Risk hai toh ishq hai

A dialogue that all of us love. But only few may have understood !

Note: The dialogue is from the popular web series “Scam 1992: The Harshad Mehta Story” released in October 2020. It captures the rise and fall of Harshad Mehta – the famous Indian stockbroker who is also called the original Big Bull of the Indian stock markets. The series is adapted from the book – “The Scam: Who Won, Who Lost, Who Got Away” written by journalists Sucheta Dalal and Debashish Basu.

“Risk hai toh ishq hai bhaaaai”

“Harshad bhai jaisa paisa banana hai toh risk toh lane padega naaa”

“Nestle toh sabko pata hai. Kucch naya dhoondo – multibagger types. Bhool gaye – risk hai toh ishq hai”

and many other statements like above…

I have heard so many of these in the last few months, that sometimes I wonder how much impact the dialogue actually had on our thought process !

Infact, now I truly believe that it has also influenced many new people to enter into the stock market.

Consider these –

  • A rags to riches story
  • Scene of the person playing golf on the terrace of his lavish flat and hitting balls into the sea
  • Rubbing shoulders with the most powerful people and in most situations outsmarting them

Everyone of us would want that. Won’t we?

Combine it with Covid forcing people to sit at home at muted income levels and it’s natural to try follow the trail.

and what is the most relevant dialogue associated with the personality…

“Risk Hai Toh Ishq Hai”

I have no doubt that web series has over dramatised the dialogue. One can see it’s reference in almost every episode with the result that it has left a lasting effect on everyone of us.

Dialogue has a swag, machoism and provides a sense of empowerment.

However, problem is not the dialogue but what inferences we are drawing from it and how it’s impacting our activities in the stock market.

I have come across two kind of inferences in the last few months –

  1. Risk taking is an integral part of stock investing and one can not avoid taking calculated risks; or
  2. We need to run wild to make it big in the stock markets

and sadly it’s the second category that I am coming across more.

Reason – that’s what is conveyed by the life of Harshad Mehta and the web series in general.

“Ab meri tarah risk se ishq hai to kood pado, ya to duboge ya udoge” – a popular dialogue from the web series.

These are very powerful words and leave long lasting impact. Combine this with the current bull market and it’s not hard to imagine why the second category of inferences are more common.

So how differently are these two categories of people behaving in the stock market?

Category 1 – calculated risk taking is an integral part of stock investing

  • diversify portfolio towards mid and small caps and also cyclicals
  • increase allocation towards well performing stocks in the portfolio
  • consolidate mutual fund holdings – say hold 6 instead of 20 portfolios
  • perfection is a myth – don’t get obsessed with it

I am sure you got the idea.

The effort is towards realignment of the thought process instead of changing it completely.

Fundamentals continue to remain intact.

Stock selection, exits, leverage levels etc – broadly continue to be tightly controlled as before. Just that the flexibility to try new approaches has increased somewhat.

Category 2 – Ab toh dubenge ya udenge

  • solid stock tip mila hai on whatsapp group
  • Bank has provided good margin on my portfolio. I can build large position.
  • F&O is the name of the game. Delivery needs too much patience.
  • I have developed the algo to crack the stock market. You can not believe how easy it is to make money. No one can stop me now.
  • ab toh phod doonga

And if you try to counter any of this. One dialogue that always comes back… Risk hai toh ishq hai bhaaai… bahut sochte ho tum !

I become speechless and the below picture summarises for me this category in the current market conditions.

[I will also accept here – when sometimes those strategies work for them, I actually start thinking whether I am being too cautious. But then suddenly all the gyaan I have written on inves4 comes back to save me from any diversion.]

I am sure you could find the above relatable. Would love to get your comments on the post.

I have used lot of hindi in this article and it was important for the purpose. Didn’t provide parallel english translation to not bore the readers. Apologies to my non hindi audience.

Also a big thank you to the whole Scam 1992 team for a brilliant web series that will remain one of the best ever.

In the end, I hope that along with “Risk Hai Toh Ishq Hai” there is another verse that becomes equally popular… and that is NSE’s “Soch Kar Samajh Kar Invest kar”.

Two together are actually what stock market investing is all about !

Other related articles you may find interesting –

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Harinder Singh
Harinder Singh
2 years ago

So true …
I am not into markets but commonsense wise can relate to it.
You rightly summarised the use of two in some balance of “risk ..” and “soch ..” 👍

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