Lessons from FY20 Rout
The new financial year is beginning on a rather somber note. The auspicious festivals of Navratri, Ram Navami, and Easter are also failing to lift the spirits of the people locked down in their homes. Offices, factories and shops are shut. No one has rushed to complete the usual year end compliances. Naturally, the financial markets are also despondent. As an investors, my first instinct is to complete erase the memories of FY20. For an overwhelming majority of market participants, it has been a difficult and mostly forgettable year. Not only equity but the debt portfolios have also caused similar degree of pain for many investors. The fact that the previous year (FY19) had not been great either for most investors, exacerbates the concerns even further. However, the student of markets in me is telling me not only to remember this year but rewind it every year to avoid mistakes that would have been made in past couple of years. The following lessons in particular must...