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'Focus your efforts in trying to be at the top percentile of whatever it is that you're doing. That's your best chance at growing wealth and heading towards your goals.' - Jugal Paryani, Chief Marketing Officer at Tabby
Introduction: Jugal Paryani, Chief Marketing Officer at Tabby
In November 2023, Tabby became the MENA's first fintech unicorn, crossing a $1.5 billion valuation ahead of its planned IPO in Saudi Arabia. While Tabby is set for accelerated growth, further market penetration, and continued innovation, there’s one individual who’s seen it all since Tabby’s early stages. Jugal Paryani’s work helped scale the business significantly, growing from around 30 employees to approximately a thousand, whilst boasting over 10 million users, 30,000 merchants, and over $6 billion in annualized transaction volume since joining the company in 2021. Central to his success is a simple yet powerful belief—aiming to be at the top percentile of your job—an approach that has not only guided his decade-long career but also helped him build wealth and advance towards financial independence.
We had the pleasure of speaking with Jugal on our brand-new podcast, Vault Presents: Masters of Wealth. Here’s the rundown.
The best way to build wealth
Jugal advocates for building wealth through a combination of active wealth creation via professional endeavors and passive wealth management using stable investment strategies like index funds. A key part of his philosophy is maintaining realistic expectations, focusing on long-term investment perspectives rather than seeking quick, risky gains. According to Jugal, the path to financial independence is marked by steady, consistent efforts in one’s career and investments, supported by a thorough understanding of financial principles.
About beating the market
Jugal believes that beating the market is highly improbable, noting that even professional hedge funds often fail to outperform the S&P 500, succeeding less than 20% of the time. He advises individual investors against attempting to beat the market, advocating instead for a simpler, more reliable investment strategy focused on long-term gains through index funds.
The importance of media literacy
Jugal stresses about the importance of the ability to navigate and critically evaluate the vast amounts of content available today. He highlights the need for classical education that not only provides knowledge but also teaches critical thinking and the skills necessary to assess information objectively. It is essential for making informed decisions, particularly in financial contexts, where understanding biases and incentives can significantly impact outcomes.
UAE’s bias towards investing in properties over the stock market
Jugal believes that historically, investors in the UAE had limited access to global equity markets, which influenced the strong regional preference for real estate investments. The platforms available were more oriented towards traders rather than long-term investors, which may have discouraged broader engagement with equities. He argues for a more balanced view, suggesting that equities, especially diversified portfolios, offer significant benefits such as less management hassle, potentially higher returns, and greater liquidity compared to real estate.
Closing statement
‘We are just scratching the surface; we are only 1% of retail. We’re just starting. This is our first wave as far as we're concerned, and the opportunity ahead of us is just super exciting.’ - Jugal Paryani, Chief Marketing Officer at Tabby
Despite Tabby's remarkable achievements, Jugal remains grounded, focusing on excellence in his work—an embodiment of his core belief.
We hope you found value in this summary of our conversation with Jugal Paryani on the first episode of Masters of Wealth. You can watch the full episode on Vault’s YouTube channel.
Disclaimer:
The discussions on this podcast are based on personal views, experiences, and perspectives of the presenters for informational purposes only. The material should not be construed as a solicitation or advice, or offer, or recommendation, to acquire or dispose of any investment or to engage in any other transaction.
Vault Wealth Limited is not liable for any errors, omissions, or actions taken based on the content of this podcast.
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