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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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"Kissing My A**": Trump Takes A Jibe, Then Praises Saudi Crown Prince

US President Donald Trump said that Saudi Arabia's Crown Prince Mohammed bin Salman was effectively "kissing my ass" while working together in the ongoing Middle East war against Iran.

Speaking at a Saudi-backed investment forum in Florida, Trump said that the Saudi leader did not expect the US to make a strong comeback under his presidency. 

"He said, you know, it's amazing ... a year ago, you were a dead country. Now, you're literally the hottest country anywhere in the world," Trump said.

The Republican leader then suggested that the Crown Prince had misjudged him. 

"He didn't think this was going to happen ... he didn't think he'd be kissing my ass ... he thought it'd be just another American president that was a loser ... but now he has to be nice to me," he said.

Then quickly shifting his tone, he praised the Saudi prince and called him a "fantastic man" and a "warrior" and said that the kingdom "can be very proud" of his leadership.

He commended Saudi Arabia and said that it supported the US in its war against Iran along with other Gulf countries. "Saudi Arabia fought, Qatar fought, UAE fought, Bahrain fought and Kuwait fought," he said and noted that they "were with us ... they were with us".

Trump's comments come as the US war with Iran reaches the one-month mark.

According to a Reuters report, Gulf countries are telling the US that any deal with Tehran should do more than end the war and must permanently curb Iran's missile and drone capabilities and ensure global energy supplies are never again "weaponised".

Gulf officials, whose countries have been repeatedly fired on by Tehran during the US-Israeli war on Iran, have told Washington in private meetings that the Islamic Republic has left them no diplomatic "off-ramp", the sources said.

The officials want any deal to lock in enforceable restraints on missile and drone attacks on energy and civilian assets, threats to oil and shipping routes, and proxy warfare, the sources added, according to the report.

Over 4,500 people, including 1,900 in Iran, have been killed across more than a dozen countries involved since February 28, The Independent reported.



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