Advertising maverick Bobby Pawar, Chief Creative Officer – South Asia, Publicis Worldwide talks to Cafemutual about his first investment, his experience of investing in mutual funds and more.
What did you do with your first pay check?
It was a very small pay check which I gave it to my mother. I used to borrow money from mom to earn so I gave it to her.
What was your source of income during your college days?
I used to get pocket money and I did odd jobs. But by and large I survived on pocket money.
How did you manage your money back in your teenage days?
I used to write poems for my friends for their girlfriends. I used to get daru (booze) and cigarettes in exchange for writing poems.
Your first investment.
I started with spending rather than investing. My first investment was my car for which I took a loan. My money used to lie in my bank account most of the time. I didn’t invest anywhere for the first few years after I started earning. I started investing in bank fixed deposits later.
Do you read pink papers?
I get the Economic Times and ET Wealth. I have read ET Wealth once. I launched ET Wealth. Pink papers go straight to my raddiwala (scrap paper dealer) without anyone reading it.
Are you a saver or spender?
I’m a spender. I have two kids and my mom is also getting older so I have to plan my investments and savings.
Have you invested in any stocks, mutual funds or insurance? Any experience you can share with us?
I have a wealth advisor for many years now. After moving back to India my first investment experience was not good. I lost lot of money when I was dealing with an advisor of a bank. My colleague used to invest through a private wealth advisor and he advised me to meet them. I met them and moved all my investments there. They have been helping us for many years now. I had lost money in four or five mutual funds. The money was invested in small and mid-cap funds.
One investment which you are very proud of
It was when I bought a home in Chicago. It’s a great feeling to have your own house. I don’t think too much about investments. I think it’s a means to an end.
It is said that creative people are not good at managing money…
I have never given time to managing money. Most creative people are intelligent in some way or the other. If we apply our mind we’ll understand it. Money scares me. I know how to make money and spend it. I don’t know what else to do with it. That’s the problem most creative people have. We have a fear that if we start to understand money and investments we’ll become less creative.
Your favorite commercial so far…
There are many campaigns which I like. Nike always does great work. A favorite ad is the silent national anthem done for BIG Cinemas.
I had done a campaign for Prudential USA on retirement. The toughest part of retirement is day one. You have been used to getting up in the morning and going to office. You don’t know what to do on the first day after retirement. You are so lost. The ad showed how to deal with it. It talked about retirement in a very different way.
One memorable day in your professional life…
Most of my memorable moments are unprintable because it involved drugs and alcohol. They certainly did not help me with my career which is why I dropped out of engineering.
I have learnt to be fearless. You may screw up a lot of things but as long as you know what you want to do and are committed towards it then you’ll always find a way. You’ll always be happy because you are doing what you love. Nobody can take that away from you.
How can we raise awareness about investments through television commercials?
You need a strategy and not just communication. People think that if they have to start investing they need a lot of money which is not true. You can invest as little as Rs. 5,000. People are averse to doing it. All mutual funds carry risk but the large caps are comparatively safe. You have to understand where people are coming from. One needs to understand the problem and devise a strategy that will solve the problem for you.
How do you feel when you see mutual fund commercials?
Usually the advertisements come across as they are meant for people who already know about investments. You need to talk about basic human motivation. They make stupid claims without getting into what people are about. You should talk about something which inspires and moves people. I don’t think advertisements on TV can communicate these messages. It has to happen on one-on-one basis. Most mutual fund ads come across as they are selling you something. It makes you feel that if you are not investing then you are an idiot. If your teacher taught you like that you won’t learn.
What would be your advice on money management to youngsters who have just started earning?
I would advise them to invest somewhere rather than putting it in bank. One should invest through SIPs. I have two SIPs for my kids.
If not an adman, you would have been…
I have no idea. Probably begging on the streets! I would be writing something as that’s the only thing I know.
