Lessons Beyond Mutual Funds

One of our weekend walkmates, a practising Chartered Accountant, had invited us to an Investor Awareness Program on "Designing Mutual Fund Portfolios for Every Stage of Life." He happened to be the main speaker and had personally invited me on more than one occasion. As if that were not enough, he had also circulated an invitation and called me the previous day with a gentle reminder.

He had one additional request. During the session, he wanted me to raise a couple of questions that a typical attendee might have, both to encourage participation and to help clarify some basic concepts.

After all the effort he had put in, there was no possibility of my missing the event.

The program was scheduled for 10.30 AM.

Or so I thought.

Since our morning walks and post-walk conversations have an uncanny ability to stretch well beyond their intended duration, I announced that I would be leaving the lake by 9.00 AM. This was considerably earlier than my usual departure time and was therefore treated by some as breaking news.

At around 8.30 AM, while I was recovering from my jog, another walkmate joined me and mentioned that he too planned to attend the program.

Within the next fifteen minutes, two youngsters from our group appeared and announced similar intentions. Another youngster informed me that his father would also be attending and had therefore skipped the walk that morning.

It gradually became evident that our Chartered Accountant friend had invited practically the entire morning chat group.

When I mentioned that I would be leaving by 9.00 AM, one of the youngsters looked mildly amused.

"The invitation says 10.30 AM onwards," she pointed out.

I must confess that until that moment I had not even noticed the word onwards. Even after it was pointed out, it did not significantly alter my understanding. To me, a program scheduled for 10.30 AM was one that started at 10.30 AM.

The youngsters seemed less convinced.

One of them casually informed me that he would be joining around 11.00 AM.

I remember feeling slightly disappointed. I have always been someone who takes appointments seriously and tries to keep to the time promised. The relaxed attitude of the younger generation towards scheduled timings has often intrigued me.

Shortly thereafter, one of them invited me for a cup of coffee.

I declined.

A commitment was a commitment.

I returned home, enjoyed a leisurely hot bath, got ready and left for the venue. Near the venue I met the father of one of the youngsters, who had also skipped his morning walk to honour the appointment. Together we arrived a full five minutes before 10.30 AM.

To our surprise, we were the first members of the audience to arrive.

Apart from a couple of organisers, the hall was empty.

Our speaker arrived around 10.40 AM, exchanged pleasantries with us and began making preparations.

At about the same time, one of the youngsters sent me a WhatsApp message asking whether I had reached.

He helpfully added that he was still at home.

Around 10.55 AM, another message arrived informing me that he was finally starting.

The other walkmate was somewhere near the venue but was engaged in an intense struggle with Google Maps, which appeared reluctant to reveal the venue despite placing him almost on top of it.

By 11.00 AM, around ten attendees had gathered.

It was then that a faint suspicion began to arise.

Perhaps the youngsters had understood something that I had not.

The organisers themselves seemed in no particular hurry. Our speaker quietly informed me that they were waiting for a minimum quorum before commencing the session.

By 11.15 AM, the late arrivals started trickling in. They appeared relieved to discover that punctuality had brought no tangible benefits.

At around 11.40 AM, more than an hour after the time printed on the invitation, the session finally commenced.

The youngster whose coffee invitation I had resisted arrived comfortably sometime after noon, looking entirely at peace with the universe.

The session itself was excellent.

Around thirty-five people attended. The presentations were informative, practical and engaging. Our walkmate blended technical concepts with real-life experiences and examples, making the subject accessible even to newcomers. As requested, I raised a few questions and several others joined in, resulting in a lively interaction.

The program lasted close to two hours and was followed by a well-organised lunch. By then almost our entire walking group had assembled, making the gathering feel as much a social reunion as an investor awareness program.

I thoroughly enjoyed the event.

Most of the discussions on mutual funds were familiar territory to me. Yet I returned home having learned something far more valuable.

I finally understood the true significance of the word onwards.

For decades, I had naively believed that "10.30 AM onwards" meant that proceedings would begin at 10.30 AM and continue thereafter.

It appears that many people interpret it differently.

To them, 10.30 AM is merely a broad opening suggestion. What follows is a fascinating period of flexibility during which attendees arrive, organisers assess the quorum, speakers settle in and reality gradually catches up with the invitation.

As investment lessons go, this one was entirely unexpected.

And perhaps the most memorable of the day.

Stories, not instructions. Experiences, not advice—medical or otherwise. Data, only what the internet quietly gathers anyway. Proceed with equal parts curiosity and common sense.