Interesting point you raised and I had a Wassap conversation with Mr Kalpen parekh too on this same topic that you allude to.
Fair enough, I will give it to you that I should have talked about the good side of mutual funds. Life is not black and white after all and in India at least and so far at least they have generated decent Alpha, however I have 02 points to make.
A) This was not about mutual funds, this was a personal rant to tell the dumb IFA jackass who called me ‘Negative’.
b) The way to improve is to look at negatives, not at positives. Similarly the way to be complacent is to do the opposite. Ofcourse I buy your point that there are good things in the industry BUT that is like saying HITLER was a great HUSBAND. Well as an industry if you can shove thematic offerings like IT in 2000 and RE in 2008, I don’t care about ur goodness charade.
net net you harm people. And that can only be changed with SKIN IN THE GAME.
You see I am not saying that PPFAS won’t have losses, that is beyond the point, what i am saying is that they will not be Asset gathering monsters launching thematic funds to FUCK retail.