Ladies in their chiffons, pearls and coiffeurs discussing stocks and the implications of the recession in the US economy over tea. Welcome to Millennium Mams, the next generation of homemakers who make tough investment decisions with as much ease as they flip a paratha.

Started by Bishnu Dhanuka and Sanjay Bhuvania, Millennium Mams is a two-year loosely-structured programme that disseminates investment information among homemakers. Interactive classes are held every fortnight and involve reading financial newspapers, understanding jargon, spotting market trends and tracking industrial performance.

More than 1,000 ladies have completed this course since its inception in 1994. The students come up with presentations, analysis as well as their own version of the finance minister’s Budget prior to the reading of the real one. “My father-in-law used to look after the family’s investments and I used to listen to the men gossip and discuss balance sheets, not knowing what was going on,” said Aruna Dhanuka, one of the earliest members. “After joining Millennium Mams, I learnt about the basics of debit and even how to read and make balance sheets. Today there are three analysts under me and I handle the investments for my whole family,” she smiled.

“Ultimately the idea was to give these women a chance to utilise their education and resources and enhance their confidence and awareness, helping in all-around development,” added Bishnu Dhanuka.

There are two other units under Millennium Mams — Mam’s Forte, where members of the business community are invited for talks and interactive sessions, and Millennium Youth, which holds summer camps and field trips for the youth.

Tips for first-time investors:

Keep your investments simple and easy to understand. The business should be fairly simple so that things don’t change rapidly and there is some amount of security with respect to the general performance of the product/industry.

It is far better to look at long-term investments, as these tend to survive volatility in markets. Short-term investments are far more risky as all factors are not in one’s control and global dynamics also end up affecting your portfolio. “Just like a normal delivery takes nine months, the stock market also delivers results after many months,” said Bishnu Dhanuka.

One must do one’s homework well. Keep track of the companies and their earnings based on their profit and loss account and/or their assets based on their balance sheets.

One must have a target to exit a stock and not keep changing one’s target without very good reasons. The lack of such a target can make the investor vulnerable to market dips and crashes.

Finally, it is not advisable to remain invested if the company is doing really badly. It is better to book your losses.

Diya Kohli