Parimal

" Indian Reserves are not a war chest. They're a powder keg" " Equity Markets don't owe you anything: a profit; a return of your capital. And definitely not a Return on your capital. They don't you a living. But they have made excellent livings for all the folks involved in selling equity products to small investors. " " Equities aren't for the masses. Returns are sparse for years, volatile , sudden and sporadic, little predictability. Hence, they are meant ONLY for the Classy". " I have always believed and said that stock market isn't for general janata/ awaam. It's a game for pros, and should remain with pros or with people already wealthy through other means" " It's time the Govt. belled the MF equity cat: Govt is disincentivising Gold because it's a drain on FX. Well, we import around $60 billion of gold pa. And through SIPs, we have allowed knife through butter exits to Foreign Capital of around $50 billion last 12 months, around $80 billion last 24 months. Both gold and SIPs are resulting in massive similar dollar outflows so penalise ONLY gold?" " In my recent article in Business Standard, I analysed that in 35 years since 1991, our external resilience percentile rank has moved from 42 to 45. It's a tragedy that we still exhibit every characteristic of a classic Emerging Market: extreme dollar shortage, crashing currency, rising rates, firefighting at any global crisis " My interview to Mint today.