What can we learn from Rahul Dravid in the world of investing Investing and sports may seem like two very different worlds, but they share many things in common. Cricket is one such sport that offers great insights even for the world of investing. When we talk about Cricket, the name that instantly comes to everyone’s mind is Rahul Dravid. Rahul Dravid is a name that resonates with excellence and discipline, both on and off the cricket field. His career in cricket spanned over 16 years, during which he earned a reputation as one of the greatest batsmen of all time. His career in cricket has some striking similarities with the world of investing. Let’s take a closer look. Just like investing, Dravid’s career was marked by discipline, patience, and a long-term approach. Dravid holds the record for facing the most number of balls in Test cricket, with a total of 31,258 balls faced in his career. This shows that staying on the pitch for the longer term is very important. Similarly in the market, longevity and making fewer mistakes is the most important attribute of a successful investor. Dravid’s career was also marked by his adaptability and versatility in the sport. He was known for his ability to adjust to different game formats, playing both as an opener and a middle-order batsman. In the 2003 World Cup, Dravid played a key role in India’s campaign, scoring 318 runs in the tournament, including two match-winning innings in the knockout stages. In investing, adaptability is the key to success. Markets are dynamic, and a successful investor needs to adapt to changing conditions and make decisions accordingly. A good example of this is the COVID-19 pandemic, which saw the market crash in early 2020. Investors who were able to adapt and make the right decisions, such as buying stocks during the dip, were able to reap the benefits when the market rebounded later in the year. Another key trait that Dravid demonstrated was his ability to remain calm under pressure. One of his most famous innings was the match-winning partnership with VVS Laxman in the 2001 Kolkata Test against Australia. India was forced to follow on after being bowled out for 171 in the first innings, but Dravid and Laxman put on a mammoth partnership of 376 runs, with Dravid scoring 180 runs. His calmness under pressure was critical for India’s historic victory. Similarly, in investing, remaining composed and not making rash decisions is crucial during uncertain times for the market. As Dravid once said, “I’ve always believed that if you put in the work, the results will come.” Investing is a long-term game, and success requires discipline, patience, and a well-composed approach. Finally, the career of Rahul Dravid has several lessons that investors can learn from. Discipline, patience, process orientation, adaptability, and calmness under pressure are the key traits that are critical for success in both cricket and investing. As Dravid himself said, “To be successful, you have to be able to relate to people; they have to be satisfied with your personality to be able to do business with you and to build a relationship with mutual trust.” Trust, discipline, and long-term vision are essential ingredients for success, both on and off the cricket field. (Pankaj Tibrewal is Sr. EVP & Fund Manager (Equity) at Kotak Mahindra Asset Management Company. Views expressed are author’s own.)
Retail inflation in milk was reported at 8.85% in May 2023. The milk inflation has remained elevated at over 6% since August 2022. Despite India being the largest milk producer since 1998, the commodity has been the second biggest factor after cereals such as rice and wheat in driving up retail inflation in the last fiscal.
Milk has the second highest weight in the food and beverages basket of the consumer price index at 6.61%, a notch lower than cereals and products with a 9.67% weight. Organised players, including Mother Dairy and Amul, hiked prices multiple times in the last one year citing higher fodder cost, robust demand and some impact due to reports of lumpy skin disease.
Industry sources said feed cost, which has a share of more than 65% in the cost of production of milk, has increased to Rs 20/kg from Rs 8 a year ago. The finance ministry in April had attributed the elevated milk inflation to a demand supply mismatch and said it could be one of the factors apart from volatile international crude oil prices and constrained supplies of milk would influence the country’s inflation trajectory.
“Milk production has been impacted by a lumpy skin disease infecting millions of cattle in late 2022,” the ministry said in the monthly economic review, adding that the vaccination drive against the disease is expected to curb the spread and immune the cattle against the skin disease.
According to official data, currently India is the world’s largest milk producer, and has a share of 23% in global milk production. For the first time in decades, the country’s milk production is likely to have stagnated in 2022-23 due to Lumpy Skin Disease in cattle across several states and the lagged effect of Covid-19 in the form of stunting of the animals, a senior official with department of animal husbandry and dairying recently had stated. The milk production was estimated at 221 million tonne in 2021-22.