Classical investment theory says that we should hold on to our winners and sell our losers, if needed. I was reminded of this when I met Sunil, a 40-plus executive with a multinational corporation. Sunil had a few good equity mutual fund investments and fixed deposits, but a significant part of his investment was tied up in a house (not his residence) which he had bought around 10-11 years back, fuelled by a low-cost loan from his employer and the great deals on offer in the aftermath of the 2008 crisis. Sunil now needed funds for his daughter’s overseas education
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