One of the biggest disadvantages of being in high-level Government service is that one cannot invest in stocks. The reason for this is because one is privy to sensitive information and that there is likely to be conflict of interest.
Nobody knows this better than Arun Jaitley, the Hon’ble Finance Minister.
During his tenure as a top lawyer in the Supreme Court, Arun Jaitley amassed a fortune of several tens of crore. As of 31st March 2016, Jaitley’s net worth is an impressive Rs. 68.41 crore.
Ever since he was hand-picked by NAMO to be the Finance Minister, Jaitley is confined to investing his wealth in junkyard investments like fixed deposits, realty, gold etc. Equities are a no-fly zone for him.
The compulsion to invest in non-equity related investments has cost Arun Jaitley dearly. The ET reported that he has suffered a meltdown of Rs. 2.83 crore in his net worth as compared to the position in the last fiscal year.
Vijay Kedia is known to be an evangelist for stocks. He never misses an opportunity to inspire and advice us to invest in stocks. He also goes out of his way to spoon-feed us with top-quality stock picks from time to time.
Kedia couldn’t resist the opportunity to advise Arun Jaitley:
— Vijay Kedia (@VijayKedia1) July 2, 2016
Kedia had an impish smile on his face when he made the tongue-in-cheek comment.
One can well imagine Arun Jaitley also standing with a rueful smile on his face that while his own policies are creating enormous wealth for shareholders, he is unable to participate in it and has to suffer the ignominy of seeing a meltdown in his net worth!