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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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Trump Shares Pakistan PM's Iran War Mediation Post, Fuels Speculation

US President Donald Trump has triggered intense diplomatic speculation regarding a potential mediating role for Islamabad in the ongoing Washington-Tehran standoff, after he shared an official statement from Pakistan Prime Minister Shehbaz Sharif.

The move follows a post on X by Prime Minister Sharif, in which he expressed Islamabad's eagerness to facilitate a diplomatic resolution to the regional crisis. Sharif stated that Pakistan was "ready and honoured" to moderate "meaningful and conclusive talks" between the United States and Iran, provided there is a mutual agreement from both parties.

Expanding on Islamabad's position, the Prime Minister noted, "Pakistan welcomes and fully supports ongoing efforts to pursue dialogue to end the war in the Middle East, in the interest of peace and stability in the region and beyond." He further clarified that, "Subject to concurrence by the US and Iran, Pakistan stands ready and honoured to be the host to facilitate meaningful and conclusive talks for a comprehensive settlement of the ongoing conflict."

President Trump's decision to share the post on his Truth Social account without further comment has been viewed by observers as a sign of active backchannel diplomacy. This development aligns with international reports suggesting that Pakistan, alongside Egypt and Turkiye, is quietly working to broker a peace deal in the Middle East.

While Islamabad is reportedly being positioned as a potential neutral venue, the White House has maintained a stance of strategic caution. US Press Secretary Karoline Leavitt described the current environment as "sensitive" and "fluid," advising against treating unconfirmed reports as definitive.

"These are sensitive diplomatic discussions, and the US will not negotiate through the press. This is a fluid situation, and speculation about meetings should not be deemed as final until they are formally announced by the White House," Leavitt cautioned. This statement comes amidst unverified claims that Vice President JD Vance and envoy Steve Witkoff could potentially meet Iranian officials on Pakistani soil.

Despite the lack of formal confirmation, indirect communication appears to be intensifying, with Islamabad reportedly serving as a critical conduit for messages. According to reports from CNN, the United States has utilised Pakistani channels to transmit a 15-point list of requirements to Tehran. The network further indicated that high-ranking Pakistani intelligence officials have maintained active communication with US figures, including Jared Kushner and special envoy Steve Witkoff, to facilitate these diplomatic exchanges.

The sudden diplomatic momentum follows President Trump's recent declaration of a five-day pause on planned strikes against Iranian energy infrastructure. Trump attributed the pause to "very good and productive conversations" with Tehran, claiming the US is in contact with a "top person" in Iran. Conversely, Tehran continues to maintain that it has not entered into direct negotiations with Washington since the commencement of the hostilities.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)



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