Call him the Amitabh Bachchan of the stock market or the big bull; Harshad Mehta, the stockbroker during the 1990s, had experienced the massive favors of life. He ruled the market and showed everyone the importance and glamor of money in the stock market.
He stands among the biggest scammers of all time, but in his prime, Harshad ruled the world. Despite being unethical, people still take him as a role model.
Scam 1992 is a web series based on the life story of Harshad Mehta, and it is a worth-watch. The web series showed that knowledge is not confined to theories only. It is to be applied practically too.
The Harshad Mehta series encouraged people to trust the stock market and start investing from a very early age. It is an interesting series that gained massive popularity in India. The series beautifully showed the struggles of an Indian family. It also succeeded in inspiring everyone to take risks. It stunningly expressed how a common man took risks and became the ‘big bull’ of the Indian stock market.
As far as the life lessons are concerned, this web series teaches us a few important lessons based upon real-life examples.
Money lessons learned from this series are as follows:
1. Risk is the game changer
Harshad Mehta always calculated things beforehand. Many people who observed Harshad’s rise accepted that he took a calculated risk. This is a great lesson for young entrepreneurs. If one doesn’t take risks in life, one doesn’t succeed. One should not always play safe, but also take calculated risks.
Entrepreneurs or investors majorly play safe, and as a result, their entire life, they earn only a small portion of return. Many of them get satisfied with a small profit. Risk doesn’t guarantee success but doesn’t always come with failures. Risking money sometimes is exactly like breaking the bank.
In short, investing in PPF and FDs for the whole of your life is like playing safe. You get satisfied by earning 7-8% annual interest. However, if you are ready to take a bit of risk, you may make huge money quickly.
2. When you have money in your pocket, nothing else matters
Many people align success with education. For them, only educated people to succeed, which is not at all veracious. People who learn with experiences grow with time. One needs to know the know-how of everything.
Having strong financial knowledge is a must 21st-century skill. Just look at Harshad Mehta. His childhood went through suffering. He couldn’t get the best schooling. Moreover, he applied academic knowledge practically like no one. His determination and confidence were his prominent virtues.
3. Understand the importance of good research
As an entrepreneur, it is very important to be strong and bold during the incorporation stage. Be ready to face the criticisms and take them as learning. Your idea needs to be strong, and you must be ready to take a stand for it.
Be realistic, research well, be bold and confident, and work on the problematic areas and you are good to go. Remember when Harshad Mehta said nothing else matters when you have money in your pocket. Strive hard to reach that stage.
4. Saturation comes in business, little in mind? The human mind constantly works, doesn’t it?
The series taught us the importance of constantly learning. With a little knowledge and experience, Mehta initiates his life in the stock market. With time, he learns, explores, experiences, and discovers new ways of growth. His passion for money always grew. With new lessons, his knowledge grew and opened new roads to success for him.
If you have watched the series, you know Mehta was among the highest taxpayers of that time. Coming from a mediocre family, Mehta made money, and how his life changed is interesting.
5. Share market is such a deep well of money.
Harshad Mehta entered the stock market with full dedication and determination. His prior job experience, too, helped him. Before the stock market, Mehta worked in a sales company. This encouraged him to understand the working of money. He developed marketing skills, management skills, negotiation skills, convincing skills, analytical skills, observational skills, etc.
He could understand the market and gained more financial knowledge only because of that. So, what helped him? The market research – Sheer research and dedicated effort. He could make profits in the stock market despite not having enough money. These skills helped him use the banking loopholes smartly.
6. What is success? Post-failure story?
Have you ever come across someone who has never failed? Even those who did nothing may have lived a failed life. However, those who conquer failure not only win but also grow.
The success story of most industrialists or entrepreneurs revolves around the success-failure path. They may not have succeeded in the first attempt, but they all had a strong comeback.
Most of them failed in the beginning, learned from their mistakes, took risks again, cheered themselves one more time, healthily took criticism, and then moved ahead. They didn’t just fail and win. Learning with more passion, accuracy, and skill enhancement acted as a key.
7. You are born to win.
Don’t forget how Harshad Mehta failed and won like a wolf. Initially, he lost all his family’s life savings. But he did not accept the defeat, got up, and started walking. He was good at taking risks and his always-ready-to-learn attitude taught him risk management skills.
When everybody wants to be successful, they dare to fail. When everyone is afraid of failure, you prepare yourself for the challenges. The series beautifully showed the importance of failure. Instead of saying one should fail, the show depicted how to have a strong comeback after failure. It didn’t say one should fail for sure. It, rather, said when a failure is an assured act, why not be prepared to face it?
Let us not allow failure to dominate our dedication and discrimination.
8. Trust and grow together
In this world full of competition, hatred, jealousy, and cheating, trusting someone is a real bet. This is so because people are so into money, career, life, and success that they have forgotten humanity.
Everyone wants success, and one trait everyone lacks is trust. People don’t trust each other. They 24*7 feel someone is after their money. They believe someone is backstabbing them and will take their money if they don’t pay attention.
Due to this fear of missing out, we are so willing to grow that we don’t help each other. Harshad Mehta taught us the beauty of growing together. Give someone your trust, the most expensive thing in the world.
The bottom line
All in all, this series was a big hit. The screenplay, the background music, the acting, the direction, etc., had a great impact on the audience. The dialogues were so encouraging that many people decided to invest in the stock market just after the release. But it takes a lot more than excitement to survive in the share market, and even more efforts are needed to thrive.
Have a glance at the life lessons learned from this series:
1. You risk your life by not taking any risks in life.
2. You need strong self-confidence to compete in this competitive world.
3. You attract what you work for. The same goes for money.
4. Failure is obvious. Proper research, analysis, interpretation, and market analysis will surely steal the show.
5. Trust is everything. Grow along with your people.
In case you were inspired by these lessons, or want to pursue the stock markets to attain financial freedom, then you can enroll in this incredible course that will give you in-depth understanding of equity markets and also help you set up your own stock broking business. Follow this link to know more about it.