My father always remarks about money sitting idle in a bank account or at a home locker as the lost opportunity to increase your wealth. Oops! It was the first Foops moment shared by author Manoj Arora in his book Foops! 30 Common Financial Mistakes.
Investing money was never my cup of tea. Earning money and spending it is relatively easier than investing it and waiting for a decade or more to see it grow. But finally, the investment bug has bitten me, much to my father’s relief, and I have started reading, evaluating, and weighing various investment options. And in this course of understanding various jargons of the investment world, I came across the book Foops! 30 Common Financial Mistakes.
The author Manoj Arora works as a financial advisor with many years of experience in stock investment. In Foops, he shares the other side of many strategies and ideas used in the stock market, clearing the illusion and misconception people have regarding creating wealth through equity investment, throwing some ouch moments, and enlightening about common financial mistakes to avoid in 2022.
The book could be an informative read for readers who has a fair understanding of the stock market, have earned, and also burned their fingers. Manoj Arora offers riveting insight through examples to explain where you might have gone wrong with your strategies and how you could refrain from repeating them.
A newbie like me would feel a little lost due to little to no knowledge about many things discussed in the book. I didn’t read the book from page to page, rather in between. I read those chapters first about which I already have some prior grasp, like SIP and Index Fund. And then the rest of them. The book made me realize my poor grip on tenth standard math, which could come in handy to do some simple calculations to assess various investment opportunities. I have started working on it. The chapter on compounding was also a superb read.
Investment is a kind of field where you can’t learn without committing blunders. It is difficult to learn from others’ mistakes. The book, in general, discusses common mistakes committed during investment that might be a speed breaker for you in wealth creation. Foop! could be the book for people who have already invested and are searching for a foothold and want to avoid financial mistakes. Not really for people like me who have made up the mind to climb but don’t know how to begin.