2 replies on “Dalal Street saved by the Power of the Common Man”
This was actually needed for a saving-oriented economy like India. First to move the saving from fixed income securities to high reward riskier assets/securities like equity. Second it will surely help to thwart the over-dominance of FII money into Indian stock market and leaving the Indian markets at the mercy and vagaries of FII daily figures.
Nice info Raoji. If you come across, it may be useful to see statistics on how many of these SIP contributing individuals are making money.
I have come across a few gullible persons who were royally misled by banks, who act as marketing agents for their Life Insurance companies (like SBI for SBI Life, HDFC Bank for HDFC Life, Axis bank for Max etc) who deduct a big chunk of contribution in the name of life risk premium and other charges (premium allocation charge as high as 7-10% upfront) and then deposit the balance in some MF scheme. Even after 5 years, and even after the markets climbing all time highs twice in the last 3 years, these schemes are not making money, and the persons distraught at their losses (a simple bank FD would have given them far better results).
No need to reward me for declaring there is a huge fraud going on with people’s money.
2 replies on “Dalal Street saved by the Power of the Common Man”
This was actually needed for a saving-oriented economy like India. First to move the saving from fixed income securities to high reward riskier assets/securities like equity. Second it will surely help to thwart the over-dominance of FII money into Indian stock market and leaving the Indian markets at the mercy and vagaries of FII daily figures.
Nice info Raoji. If you come across, it may be useful to see statistics on how many of these SIP contributing individuals are making money.
I have come across a few gullible persons who were royally misled by banks, who act as marketing agents for their Life Insurance companies (like SBI for SBI Life, HDFC Bank for HDFC Life, Axis bank for Max etc) who deduct a big chunk of contribution in the name of life risk premium and other charges (premium allocation charge as high as 7-10% upfront) and then deposit the balance in some MF scheme. Even after 5 years, and even after the markets climbing all time highs twice in the last 3 years, these schemes are not making money, and the persons distraught at their losses (a simple bank FD would have given them far better results).
No need to reward me for declaring there is a huge fraud going on with people’s money.