My friend Anand called me a few days ago. He sounded crestfallen. He had kept in touch with me through the pandemic-fuelled crazy ride in the stock markets. Back in March 2020, when the Nifty had fallen to around 7,600 and fear was at its peak, I had coaxed him to stay invested in his existing equity mutual funds as his goal was due only 10 years later. I convinced him to look at his asset allocation, which was well below his target.
Although I could not convince him to increase his investment in equity funds, at least he stuck to
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