mcJj, 29 D@im 2005
cvmMm$ iblJCkǮ

DL&Mm$, iblJCkMm$ bcO Sk Dmb i=nlk Dmlb k, cCm mJ& D|Lk vC& n mjmj DC lk&M Jj kv Il. (Assumption of Rationality) iblJCkMm$lu, DL&Mm$lu kn mvl, i=nlkJj DOjl Dnl, hC iblJCkyu iblJCkojb vC&, MDj ypjl D{UCN Jmbil cU i=nlkh{ MvƮvn GYb jnub DC lv Behavioural Finance Jm m Pu.
DL&Mm$, iblJCk, MDj ckx cnub cnCp lk&M Jj, Dk[c[Ǯ DYm DM i Dhuu DJll, hC Jkn L[b DJv hn. SK sM ylccU MDj ypj箳 voxMbkl GuLhuL nll k vn ? SK MDj kcl ImjCu uiu ljn l MDj Jkv l vb$Cl JCl DhC UU kjl k vn ? SK c$v mbilub cnCv SK mkccO hm iblJv DhC Hml k vn ? Mvb Gjb `n` DM Dmlu lj ci iblJCkǮ, MDj ypjlu JJnj DhC vncǮ hlMj lk&M Jj kv kjl Dmb cnCl F&u k ? `vn.` kjC n mJ& vC& ICj kC b$cvJ, k@chj vmll lj n[cbm pJbl cCmb Dmll. lbv YJ-YJv, El-kUp, lC-lCJ Dmll. DM cCmb n vC& Il DmucU l vncǮ lk&M, kkj Dmll Dmb vn. DL&J<k vC&bJj cvmMm$ km hjCc nl DYm kjCj %vMK cnCp Behavioural Finance EkJ `iblJCkǮ cvmMm$ `Behavioural Finance SJp Behavioural Economics, Investment Psycholoqy Dmn Myoi ku pll. Dvk JU MDj ypjlu EkJ Jdz ypjlu I[c[R DYm kjlv Dmb omlb k, ukbcO Hpu DlcJm Dml, Dhuu cUuu ihl cnl H Dhuu cUu Dn, Dm Yc Dml. mJ祮 hlMj DYm iblJCkǮ cvmMm$cO nl Dml. DL&Mm$ DC cvmMm$ DM ovn J<b colv n DYm nl Dml. DYmlv iblJCkojbv, iblJCk muuijbv, MDj ykm&v Ghi h[u, DM Kh i mcpll.
DL&Mm$, iblJCkMm$ bcO Sk Dmb i=nlk Dmlb k, cCm mJ& D|Lk vC& n mjmj DC lk&M Jj kv Il. (Assumption of Rationality) iblJCkMm$lu, DL&Mm$lu kn mvl, i=nlkJj DOjl Dnl, hC iblJCkyu iblJCkojb vC&, MDj ypjl D{UCN Jmbil cU i=nlkh{ MvƮvn GYb jnub DC lv Behavioural Finance Jm m Pu.
lk iblJCkoj iblJCkǮ mJl: Mu Dml. kC DlM mƬ iblJCkoj Dml lj kC v< iblJCkoj Dml. kn kbylu hl-hlv, cui-cui bv lcn lb iblJCk kM kj Dn, Dm Mv Jj. Mv箳 Gjlv JiJiU iblJCkMu lc箳h{ lu. kn iblJCkoj Dmll pb Ok hlkjC #cl Kh kc Dml. Dm iblJCkoj Jc, yBklu EkJ hmlu colJ, v@Mvu mEJnipd m|Hkmd DM kc EkJ Mv Ok DmCN kjl iblJCk kjll. pb Ok hlkjC #cl Dml DMb MDjypjl iblJCk Dml. Sko iblJCk kuJj l nlUCn JiJiU kj Dmll. mƬ / k=lMu iblJCkoj hjmLlvmj lb iblJCk mbl you kjll. Go. MDj ypjl cbo Dmu lJn kc kclu MDm& I DC ypjlu lpǮ Dbop ITv { YJu l MDm& Jk. DL&JJmLlu p #$bcO YJ<l lp Dh#l Dn l D kc kclu Jkl I DC lp DuJj vH kcJ. v< iblJCkojbb JiCb JiUb Dmlb. l Sko iblJCk kjll DC ci iblJCk mbl HjM Gu{u kjl vnl. DM iblJCkojb ynlk iblJCk coly Dml.
iblJCkǮ cvmMm$lu DCK Sk Dk<&k J< cnCp m$-h< Yo. `hM箳 JJnjlub ykbv k kUlb` Dmb klmlhC cnCC oJm Dl ci h[u uiul. Dvk c᮳Du Hb[md c@vpj cnCv m$ u#JOk kcij kju uiu Dnl. m$bv c@vp kuu c᮳Du Hb[md DC h<bv c@vp kuu c᮳Du Hb[md b SkC kcij mjKǮ Dmu lj kn Hjkn Dnl. m$ c@vpj DmCN c᮳Du Hb[lu Net Asset Flow n h< c@vpj DmCN c᮳Du Hb[h# kc Dml b kjC Dn mcp箳 cvmklcO `ykbv iblJCklub k kUCj ?` ijmcpcO! mW^u Hwuj[ Jhl Puu DYmlv Dmb omub k, mJ&mOjCl: DL&J<k cnlhmv m$bv oj Jub plb. lcU DL&J<k JJnj kjlv m$b DlcJm h<bh# kc Dml.
MDj ypj n Sk DodYl i Dn. FLu {-Gljbyu vckb kn mbiCbn Kh kC i Dn. ypj kJn lpl F&u DC kJn cboǮ ilxl kmUu K$ vml. MDj ypjlu DodYllci iblJCkojb cvmkl n cnJb kjC Dn. iblJCkojbv JCj l Yl DC vHw uY b ypj箳 lp DC cboM pJU mbybO Dn. MDj YJ {u uiu k, l Dpv {lu lJn Jk Dm uY ku pl. { YJbvn Dm MDj Jkl Ilu pll Dc lpu FbOv cUlb. Gu MDj YJ L[m Imju kbhvǮ GhomLv jpvc ou kCkC uiu k l箳 Ylv MDm& pjoj J Jnu uil DC ypj Imju uil.
Hpu DlcJm n Sk cvJ J=. iblJCkǮ cvmMm$l J=Ǯn yj DYm u Dn. Dl DlcJm DmCj ^[m& ypjl c mbKv Dmlu lj ^E[i Jn@uc J{l. MDj ypjlu Dvkbv Dhu Dbopyu cCynj DlcJm Dml. Hpu DlcJm DmCN iblJCkojb ypjlub OjC Dck Dmlb. Go. SK kbhvyu Dhuu cUuu ihl cnl n Kj Dn DC H Dhuu cUu Dn, Dm iblJCkoju Jm Jl Dmu lj l cUu l YJu l kbhvǮ MDm& Il.
SK iblJCk h& cnl Dhuu kM hlv ou pl Jj l cnlu ou pCj lƬ jl. Go. SK iblJCkl `l Mkwl 10 kwk Dn` Dmb mbilub DC `vHw Mkwl 90 kwk Dn` Dmb mbilub lj iblJCkojb lƬ JiU Dmlu. l箳 MkwlcU iblJCkoj pJ{ DmJmL nll lJ{ vHw箳 MkwlcU KM nl vnl. lcU l UCm pJ{ lv iblJCkoj kjll, Ok mJkjll lJ{ lv vH kcJCm kjl vnl.
iblJCkǮ vC& Ilv Dvk JU kn M@&kmd Jhju pll. cvmMm$箳 hjY<l u Heuristic Driven Bias cnCll. n M@&kmd cnCp k? lcn Dmbn cnCu k, ov-j pCbv JjuMJ Dcn iblJCkǮ vC& Il vn. hC SKo Jc h@um k{lv DhC l h@umǮ mJ& Ho-l mcpJv Il k? k n DhC Dhu hjƮl Jc Spbk[ mhJl. SK vlJFkv, c$v mbilub cnCv SK kbhvl hm iblJu Dmb nlb Dvk JU. kbhvlu iblJCk Dhuu mǮ Dn, vn Hjm Jj nl vn.
DL&JJmLl iu kn J<hmv Phv you nl Dnl. iblJCkǮ JiJiU h& iblJCkojbv GhuyO Jnu uiul. Jpoj ImjucU yBklu JRmjK hjbhjk h& Dl hJamjK Dk<&k jnu vn. mJsvJ=, hl-hlv oIb vkj cU iblJCkm GhuyO DmCj hm (Investible Income) J{l Dn. DL&JJmLlu JiJv youbcU YJ<yu Dmj#ll Jl. lcU i iblJCk kjC ijp J{l Dn. lb$%vlu ilcU, yBEki #$lu KmikjC箳 yJcU Online trading mjK m GhuyO Jnu uiu Dnl. lcU Ijymu, D@Hmlv iblJCkǮ JJnj kjCb Mkw Pub Dn. iu Sk- ov J<l yN kbhvb MmJ Intial Public Offers cU mcv cCmn MDj ypjlu iblJCkk[ JUu uiu Dn. miU hjmLll iblJCkǮ cvmMm$ DYm cnJ jCj Dn. iblJCk vC&Jj YJYJvb kmkm hjCc nl n u#l Ilub lj DOk i iblJCk vC& Il lu. ykjp nTmmd, Jdz muuij bv cvmMm$dz Cb Ghi kv iblJCkojb iblJCk Mu jJl F&u DC Muu Dvh iblJCk h& lbh{ Jl lu. mJ&l cnJb cnCp Rational Investor n i=nlk DC `cvmMm$ Dbop vck vmll` n mcp D|Lk JJmLhkbv hvn Sko lhmv hnJ uiCj Dn.
m oJmLU-kul
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