Classical investment theory says that we should hold on to our winners and sell our losers, if needed. I was reminded of this when I met Sunil, a 40-plus executive with a multinational corporation.
Sunil had a few good equity mutual fund investments and fixed deposits, but a significant part of his investment was tied up in a house (not his residence) which he had bought around 10-11 years back, fuelled by a low-cost loan from his employer and the great deals on offer in the aftermath of the 2008 crisis. Sunil now needed funds for his daughter’s overseas education and had approached ...
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