This is inspired by a true story I heard about someone I know. If you ever read this, thank you for all the jokes!
***
The front page of the newspaper was as drab as ever. One politician made allegations against another, the other took offence and threatened to take this one to court. The Prime Minister assured the nation that the borders were safe, the Finance Minister rubbished statements linking the price of onions to an economic slowdown, while the opposition played watchdog, barking at everything in sight. The pages inside didn't make for pleasant reading either. A man killed his neighbours for the flimsiest reason. Three bus accidents on the highway caused deaths. Old men wrote letters to the editor about the dog menace in their neighbourhood. Someone wrote a lengthy opinion on the changed law of pesticide control.
Rangarajan skimmed through all these pages out of habit before settling into his favourite part of the newspaper - the sports page. He read the cricket match report in great detail, even though he watched the replay of the entire match the previous evening. His tea steamed away on the little side table next to his chair, and his wife scurried around the house finishing all the small things she had to do before they left for work. He scrutinised all the irrelevant sports news - about Canara Bank having defeated Union Bank in a twenty-over game by nine runs. He imagined a bunch of unfit, middle-aged, balding bank employees like himself running around a little red ball. He then glanced at the crossword, and nothing had changed - for years, he hadn't solved a single clue, and that morning was no different.
He left for work first, at exactly eight thirty-five. His bank was fifteen minutes away on his scooter, if the traffic wasn't too bad. He needed a five minute buffer for his conversation with his Malayali neighbour, who asked him the same question each morning, "So, have you thought about investing in the stock market?" This was followed by a report on how much money he had made in the last week, and how he was thinking of buying a new car with his earnings. Then, he'd point to his fridge, visible from the corridor through the half-open door and say, "That was from the stock market."
For Achyutan, the stock market was not only a money making enterprise. It was more. "It is such a complicated set of numbers - a summary of the actions of so many people, all acting in their own interest. Yet, there is a logic to the thing. It is more calculated than a gamble, but not yet a science." He followed this up by applying his latest pop-science theory to the stock market, either, "Oh, of course God plays dice - but even the dice follow the laws of physics!" or, "The Butterfly effect, I tell you - a workers' strike in a steel plant in Khazakhstan can cause a dip in the markets in India."
This morning, Rangarajan had had enough of all this talk. He declared, "Yeah! I bought Tata Steel yesterday. A 100 shares." The confidence with which Rangarajan made this statement got his neighbour thinking. Tata Steel was, perhaps, a good buy. He replied, "At yesterday's prices, I should have bought too. What price did you buy at yesterday?" Rangarajan was trapped. He hadn't the foggiest idea of what range the Tata Steel share operated in. He wasn't even sure when he said it if Tata Steel was an existing tradeable commodity in the stock market. But confidence was the key. "It was just off the day's low," he said.
Achyutan didn't want to seem unaware of what the day's low was. He didn't probe further.
The next morning, Rangarajan said again, "ABB is a good buy. I bought 150 shares." He'd heard this from some colleagues at the bank. Achyutan wondered if Rangarajan had some advisors, "Who is your broker?"
Rangarajan said, "Oh, you mustn't put all your eggs in one basket. Better to have more than one broker, no?" It was rubbish philosophy, and both men knew it. But again, confidence was the key. Achyutan bought ABB that evening, and over the next few days, the stock shot up. Achyutan asked Rangarajan for advice each morning. Rangarajan's portfolio also grew each day, as he cited purchases and sales with gay abandon.
But a new problem came up. Rangarajan soon lost track of his portfolio, but Achyutan didn't. "But I thought you had only sixty shares of Infosys? How did you sell a hundred?" Rangarajan escaped with the shady, "I bought more during the day - day trading, you know." The bigger problem was questions like, "Oh, so you booked losses on Ranbaxy? You bought it at a much higher price!" Rangarajan realised he had no idea of where his investments were going. He needed to be more scientific about this.
He subscribed to the Economic Times.
Each morning, after reading about the Prime Minister's repeated statements, the Chief Minister's support for violent revolutions, and the detailed scores of the football games between the local schools, he looked up stock prices in the Economic Times. He picked any stock that took his fancy, and announced to his neighbour, "Chennai Petro was a good buy yesterday in the early 200s. I think I'll sell it off in the first hour of trading today." Achyutan agreed, "Yeah. I noticed last evening that its price was abnormally high." Both men nodded intelligently.
Rangarajan had a small windfall. His ailing bachelor uncle, who was gifting away his properties to his nephews and neices, left him a large beach house on the outskirts of Madras. Rangarajan sold it, and bought a swanky car. He told Achyutan, "You see that car? Its from the stock market." Achyutan had made some money too, but he realised his neighbour had somehow been one step ahead. "You're a natural," he kept telling him, "In just about a year, you've mastered the stock market!"
However, the pressure was mounting on Rangarajan to keep track of his fictional investments. They were so large and diversified that his stories had too many holes and inconsistencies. He either used his standard weapons of day-trade, short sell, I-forgot-to-tell-you, or blamed Achyutan's bad memory to get himself out of sticky situations. But he'd had enough fun. Achyutan had already begun to suspect Rangarajan's source of funds for the investments.
One morning, Rangarajan announced, "I took all money out of the stock market. I've made enough." That very day, the Sensex fell by a record number. There were rumours of a global economic slowdown. Bad mortgages and the dubious 'sub-prime crisis' were blamed. Next morning, Rangarajan woke up early, opened the door for the newspaper guy and said, "Please stop my subscription to the Economic Times!"