Nafisa Dada: Obsessed with the Stock Exchange

Posted on 10.17.06 by StockPK Team @ 1:00 pm    

Forty-six-year-old Nafisa Dada has been playing the stocks for nineteen years now. And she has no regrets. Sitting over a computer in a room at her apartment, she manages both home and her trading, making sure one does not affect the other.

Dada trades online now, not like the old days when orders had to be phoned in. And she is one to take advantage of technology. In the same room as her computer, on which she places her buy and sell orders, is her trusty television set, which is usually tuned in to one of the numerous business channels that have proliferated in the past couple of years.

It is from these channels that she gets information about sectors and stocks without having to step out of her Soldier Bazaar apartment. In fact, she is a living example of how a woman can earn a decent income without leaving her home.

And yet, Nafisa Dada warns that trading on the bourse is not as simple as watching business channels and taking decisions. She believes that it is pure madness to enter the field of stocks without having a know-how of the business as a whole.

Nafisa Dada comments that “It is not as simple as buying shares when they are cheap and selling when their values rise. One has to have enough knowledge and experience and understand what is happening in the background.” She notes that it is hasty decision-taking which leads to a shareholder’s downfall.

Nafisa says that dealing in shares is not a profession meant for fresh business graduates. “They usually get attracted by the high percentage of profits on single transactions and because they are desperate to earn maximum in the minimum time possible, this makes them take risks and also ignore the fundamentals of the market.”

She currently holds the shares of an astounding 750 companies and works in partnership with her nephew who is a broker in the stock market and helps her with her daily decisions about trade and investment.

Owing to her understanding of the market, Nafisa Dada comes on a daily radio show where she gives tips to others interested in investing in the stock market. She does accept that she is obsessed with the stock market and its functioning but adds quickly that she has never been greedy when it comes to profits.

“When I started dabbling in stocks and shares, naturally I was doing this for the money. But along the way, I became addicted to trading itself,” says Nafisa Dada, like a true punter. She adds: “What I am today is because of my several years experience and patience. I have never cribbed about not making enough profits.”

Unlike most women, Nafisa Dada’s lifelong ambition was to be a businesswoman and this trait was first identified by her classmates back in her ninth grade. “I always used second-hand books or pirated versions of my school textbooks because I wanted to save money.”

Her friends who usually mocked her and disapproved of this habit of hers, gradually realized that she was wiser to not spend a fortune on books that were to be used for a short time. “Later on most of my friends began accompanying me to Urdu Bazaar every time I went shopping for books,” she added with a smile.

When it comes to money matters, such is her business acumen it is not her five brothers whose opinion is taken into account but instead it was hers. This is quite a compliment in a Memon family.

Nafisa Dada has come a long way since 1987 when she brought her first share in the market that earned her a profit of Rs200. Today she confesses her salary is much more significant. “It was certainly not an easy start and I had to invest a lot of time understanding the business and the functioning of different companies.”

However, she adds, she never had to invest a single rupee from her pocket even when she began from scratch. “I wanted to earn the money through my skill and hard work so when my relative proposed the idea of dealing in company shares through banks I accepted the offer only after he agreed to make the investment, which he did.”

Shortly afterwards Nafisa got an account opened in the stock market and began her dealings on a larger scale. “It was actually after my marriage that my work started picking up and I believe it is due to my luck and my mother-in-law’s prayers that I have been able to accomplish so much. I had always wanted to earn money without having to go out because I had to look after my family as well.”

The mother of five, discussing her daily schedule, also said that after being associated with the business she lost interest in other household chores. “I’m more passionate about bonus shares than I am about cooking,” she says with a twinkle in her eye.

Juggling two jobs, however, is not easy. After taking care of her children’s needs in the morning, her trading starts when the markets open at 9AM. From then on, she sits in front of her computer and turns on the television to remain vigilant of the changes in the market.

Later in the day she maintains her ledger and the activity sometimes lasts until midnight. “I’m not a complete workaholic. I do keep an eye on the routine activities at home, in fact that is one of the greatest advantages to work from home,” she comments.

Due to her busy schedule Nafisa is unable to spend some quality time with her children, but however makes up for it on weekends when the stock market is closed. “I usually unwind with my children. We either go for dinner or shopping on weekends.”

Her husband, who is a retired chairman of the Karachi Race Club has been quite cooperative of her work too. “He knows about my passion and the fact that I have always wanted to be financially independent so he never interferes and lets me be.”

If not a stock market player, says Nafisa, “I would have been an educationist.” She regrets the fact that she was not allowed to pursue her education beyond Intermediate. “Education holds special importance for me and there should be absolutely no compromise on that. I believe every child should be given the opportunity.” Nafisa also offers personal loans to families for the purpose.

She adds that one of the basic reasons she wanted to earn more was to ensure that her children attained quality education. “What I do can drive any sane person mad. The greed for more profit leads one to give up on a lot of important things in life. Just because I am patient, I can’t be sure that my children would behave similarly which is why I don’t want them to be affiliated with stock trading. I want them to lead independent lives, instead of dependent on my money,” she maintains.

This down-to-earth lady has some strong values in life. “For me my children are my best investment. The day they are all settled with god jobs, will I believe that I have achieved something.” Dada says that to be successful one must keep three things in mind. “Be patient, never regret decisions once taken and don’t trust anyone.” Its as simple as that.

Source: Aroosa Masroor Khan @ The News