India 
The Dog and the Owner
Ralph Wanger may not be familiar to many investors but he was a very successful portfolio manager.
Ralph was also a great communicator and would regularly pen updates to clients. One of the best was this analogy of the stock market.
A man was walking his dog in New York. The man has done the same walk for years, starting at Columbus Circle, strolling through Central Park, and ending at the Metropolitan Museum of Art.
The dog has boundless energy and never walks in a straight line.
He leaps randomly from one direction to the next, stops to smell every leaf, barks at other dogs, and jumps on you for no reason.
His movements are totally unpredictable. But you know he's heading northeast at about 3 miles per hour, toward the museum, where he'll eventually end up – because that's where the owner is taking him.
"What is astonishing," Wanger said, "is that almost all investors, big and small, seem to have their eye on the dog, and not the owner."
As an investor who wants to create long term wealth, pay more attention to the owner (process) and less to the dog (markets).
The process is consistent while markets are volatile.
About the author
Satish Prabhu is an avid blogger and has written close to 300 blogs on the basics of investing. He prefers the short story-telling format for his blogs and writes motivational life stories which are then weaved to give a message on investing. While content writing is his forte, financial literacy initiatives are close to his heart. He feels that investors can create wealth not by investing more money but by improving their behaviour with money. His stories give the message of patience, perseverance and resilience, the keys behavioral traits to be imbibed by investors. He is greatly inspired by the book ‘Psychology of Money’ by Morgan Housel. You can read all his blogs on his LinkedIn page.
On the professional front, Satish is the Vice President & Head of Content & Direct Customer Engagement at Franklin Templeton (FT) Asset Management (India) Pvt. Ltd since December 2013. Prior to FT, he worked for 8 years with CRISIL Ltd. (a Standard and Poor’s Company) and for over 7 years with the Stock Holding Corporation of India Ltd. (SHCIL).
He speaks at various investor education forums, conducts knowledge sharing sessions, webinars, podcasts for investors, advisors, relationship managers, corporates, among others.
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