GYC by Dinesh Aneja

म्यूचुअल फंड्स अब निराश कर रहा है। पैसे बढ़ने के वजाय घट रहे हैं यानी माइनस में जा रहे हैं। पिछले एक साल से यहाँ स्थिति सही नहीं है। म्यूचुअल फंड्स पैसे निकालने का क्या यही समय है? या अभी इंतेजार करना चाहिए?

US–Israel–Iran tensions have increased volatility. History says this is temporary. Sensex has corrected ~10% on avg , recovering within ~38 days. In 2022 (Russia invasion), Sensex fell ~8% &,made new highs within 45 days. Markets react to fear.
They recover on fundamentals.

Jan 2000 Tech stocks have only one direction : UP India’s software companies will dominate global markets in the new millennium Tech stocks feel unstoppable I FELL FOR GOOD STORIES - invested Next 18 months, the tech fund I invested in dropped 80% Jan 2008 Large caps had run up 7 x in last 4 years Small caps 15x India was growing at 10% We were dreaming of overtaking China I Invested again. In Infra fund and many infra stocks. A wise man said sell infra stocks and invest in these pharma stocks (had gone no where) I invested in that one pharma stock and said - I’m wiser - I’m a long term believer of the infra story - shouldn’t sell Next 12 months, infra fund fell 70% As of today, the pharma stock is 90% of the stock portfolio. Not because the pharma stock did well. Because all other infra stocks (poor quality - poor governance) lost 90% These two are my most defining mistakes in investing Thankfully, on small pool of money. Since then, stopped reading narratives that sound intelligent, interesting and popular All that matters is - don’t want to lose hard earned money stupidly by blind faith investing Respect valuations. Respect quality. Respect luck. Avoid greed of past returns and envy for others returns. Accept the truth that most things are unknowable