Kerala man opened a demat account for maid to invest in stocks on Zerodha, internet has mixed views
Kerala-based investor Sudheep sparked debate on social media after helping his domestic helper open a Zerodha account to invest ?1 lakh in stocks, which grew by 30% in a month. While some praised him for empowering the underprivileged, others criticized the high risk of investing in small and mid-cap stocks, urging safer options like mutual funds.
A Kerala-based investor has sparked debate on social media for assisting his domestic helper in opening a Zerodha account to invest in equities. Sudheep, an investor, assisted his domestic helper in opening a Zerodha demat account. She subsequently invested little more than ?1 lakh in several companies.
While some people applauded him for uplifting the underprivileged by introducing them to new economic opportunities, others believed that investing in stocks was a hazardous move.
Who invested money for her maid?
I helped my maid open a demat account through zerodha..
¡ª Opportunistinvestor (@Sudheep8531) September 11, 2024
She invested 1 lac last month..
Now current value at 1.28 lacs
Almost 30 percent a month.
Empowering the non empowered by giving them knowledge to invest.
Yesterday's screenshot..would have gone up again today pic.twitter.com/dkyjJzmM8V
Sudheep, whose X bio claims that he is not a SEBI-registered investment advisor, posted a screenshot of his domestic worker's investment portfolio to the social networking platform X. She invested ?1,05,970 in several small and mid-cap stocks. The current value of her possessions is ?1,28,462.
¡°I helped my maid open a demat account through Zerodha. She invested 1 lac last month. Now current value at 1.28 lacs,¡± Sudheep wrote on X (formerly Twitter). He said that the portfolio saw an increase of almost 30% in a month and added: ¡°Empowering the non-empowered by giving them the knowledge to invest.¡±
How did people on the internet react?
His post has become popular on X, with over half a million views already. However, the post sparked strong reactions. Many others criticized the investor for recommending small and mid-cap equities, which are normally regarded as riskier than large-cap stocks.
If you geniunely want to enpower them then you should've started with mutual funds, not SMALL CAPS... They probably have this as their only savings... Stock investing is not this easy, and if done without adequate knowledge can wipe out your life savings.
¡ª Harsh Jain (@Saangharsh) September 11, 2024
Please sign a security bond stating any losses incurred will be compensated with principal amount returned by you. I don't think you can call this as a 'help' since direct equity investment that too on micro caps is termed as very high risk investment.
¡ª ThirdEye (@3rdEyeDude) September 11, 2024
I too once told my maid that she should start investing with small amount in Sukanya for her daughters.. She start giving n number of excuses.. I dropped the idea to guide her... Knowledge is not for everyone... But happy to see your maid understand...
¡ª Swasti MJ (@SwastiMJ) September 11, 2024
How is this giving "them" the knowledge to invest? Your investing her money in her trading a/c is not empowering.
¡ª Nneha Chamaria (@NehamsChamaria) September 11, 2024
Does she know what stocks mean, how the markets work, what these companies do, their profiles, management, fundamentals, the risks, even the meaning of "investing"?
That's why rbi is worried that tradition bank FD customers are on decline as more people sending money to stock market rather than FD
¡ª Changyan (@Changya29646500) September 11, 2024
Also read: Watch: Zerodha CEO Nithin Kamath joins colleagues in exciting push-ups challenge
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