13 Steps to Bloody Good Wealth by Ashwin Sanghi & Sunil Dalal
13 Steps to Bloody Good Wealth is a typical self-help book that will tell you all that you probably know already. It tells you that you can never be a billionaire if you keep working for someone else. However, if that is what you enjoy, continue doing so. It tells you that you need to take big risks for big returns – of you have the temperament to take the risk or not is your call.
The author was bound by 13 steps, and he has skilfully put all his knowledge in 13 steps. The 14th step is given as a bonus. These steps are a primer on investing in the stock markets and earn money. Now, we all know that stock market is not everyone’s cup of tea although there are ample examples of people who made a killing in the market. It would clarify a few things for few and then, of course, you have to take your own call.
If I were to sum up the book in a line it would say – Identify a fundamentally good stock, buy it early and sit on it for few years and you will be at least a millionaire. Now, it does work for some people, but most people fail at each of these steps. The ones for whom it works, make it seem like a work of wisdom. Personally, I think it is a combination of analysis, risk taking with a tub full of good luck.
What I enjoyed in the book is the small anecdotes of people who made a lot of money. There are some great stories on creating good wealth and how people made it or missed it. Both kind of stories kind of make you introspect to see if you are making the same mistakes or tracking the same scenarios or not.
13 Steps to Bloody Good is a franchisee, I assume co-owned by Ashwin Sanghi & Westland and they invite various experts in different fields to write these books. This one is second in the series, first being 13 steps to bloody good luck. I kind of expected what this books would be about but I think I wanted to read about the model followed in this series. This was my primary motive to read the book. I expected the book to be co-authored, but I guess this is completely written by Sunil Dalal. There is absolutely no WE mentioned in the book. The experiences and examples all come from Sunil Dalal. I am keen to know what is Ashwin’s role in this book apart from lending his best-selling name.
Like I always say that a self-help book works at a level where it reminds you of what you need to do. Like your mother or your wife, it tells you to do what you know you should. Self-help books give you the positive nagging that can potentially put you on a track that takes you to your destination. Personally, for me, they make me stop and think and sometimes do the course correction.
So, if making good wealth through equity investments is what you are looking for, this books at Rs 150/- is not a bad investment.
Take your call.