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SIPs Are Like Marilyn Monroe: "If You Can't Handle Them At Their Worst...''

Back in 2012, I interviewed the late Parag Parikh when he was about to launch PPFAS Mutual Fund. Besides his contrarian investing style, the one thing that stood out about him was his refreshingly candid take on things. This was when mutual funds   were witnessing outflows for years and assets under management stood at a little over Rs 5 lakh crore - largely debt-oriented. When I asked him how he planned to garner investments at a time when mutual funds weren't in favour, he said: "By being on the side of the investor". He then pointed to a note he had gotten stamped on the physical prospectus of the AMC's inaugural equity fund that said: "Please do not invest in this fund if you can't remain invested for at least five years". I can't draw a straight line from the note to PPFAS' outperformance over the past decade, and the swelling of its assets. But surely, sobering investors' expectations when the temptation is to oversell helps attract...
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Video: Welding Sparks May Have Caused Huge Fire At Gujarat Gaming Zone

A CCTV footage of the fire at a gaming site at Gujarat's Rajkot that has now emerged, shows the fire had started while welding. Twenty-eight people, nine of them children, were killed in the massive blaze that broke out on Saturday.

The footage shows the fire spreading from the sparks emitted during the welding.

Despite efforts to extinguish it, the fire spread.

A police case has been filed against six partners of the game zone that was operating without a license. Two persons -- the owner and the manager of the site -- have been arrested.



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