Momentum investing has become one of the most talked-about factor strategies in India. The headline numbers are attractive — Nifty 200 Momentum 30 backtests often show 14–15% CAGR, and AMC momentum funds have seen rapid AUM growth. But a 19-year NSE backtest raises an uncomfortable question: is the momentum premium real, or is it simply…

A frequent criticism by those who encounter freefincal articles or videos is, “This guy is very pessimistic about equity investing”. I also often get asked why that is the case. Please allow me to explain. There is a difference between lack of faith and pessimism. If I lack belief in equity, I will not go…

The freefincal low volatility and momentum stock screener (based on BSE 500 and BSE 100 stocks published since Jan 2020) has just received major upgrades. In this article, we list the major changes. What is low-volatility investing? Low-volatility investing refers to identifying stocks with low price volatility and investing in them. Again, this is based on…

I argue why we should use a personal inflation rate while planning for retirement. My family’s inflation rate was about 8% some years back – Inflation in India: Some Real Numbers. So, that was the rate I started with when planning for retirement. Eight per cent before and after retirement. Then, as our economy grew,…

On Feb 26th 2026, SEBI updated its Categorisation and Rationalisation of Mutual Fund Schemes, introducing a new category -life cycle funds. We discuss whether it makes sense for investors to consider these funds. The formal definition of life cycle funds is, “An open-ended fund with attributes of predetermined maturity and glide path for goal-based investing”. …

Here is how you can be a successful equity mutual fund investor. This also applies to the long-term direct equity (stock) investing. Understand the true nature of the stock market: All those stories of “compounding” that you have been fed do not pan out in real life. See: Don’t get fooled: Mutual funds have no…

Whenever I talk/write about the stock market and mutual funds, I get a lot of flak about how “discouraging” or “negative” I am. Even after all these years, I find it bizarre that despite the disclaimers and the warnings, people believe that simply staying invested in the markets will guarantee good returns.  And I am…

Readers often ask us, “I have a moderate risk appetite; how should I invest in mutual funds?” or “Which mutual funds should I choose with a moderate risk appetite”? “What does moderate risk appetite mean?” We cannot define in any meaningful way what risk appetite is, let alone categorize it as low, medium, or high. …

PPFAS AMC has begun onboarding clients to its Gift City retail funds: Parag Parikh IFSC S&P 500 FOF and Parag Parikh IFSC Nasdaq 100 FOF. We discuss what investors should consider before investing. From the investor’s perspective: As usual, investors should first consider their needs and avoid focusing on product features or succumbing to FOMO….

Several investors often ask if they should stop their investments and wait for the market to cool down or pick up after a sideways market. Or they are waiting for the right time to invest a lump sum or start a sip. Our short answer is: If you want equity to change your life, don’t…

A reader says, “I have invested in equity mutual funds for the last four years. Can I now start buying stocks?” Here are some guidelines to decide. Why do you want to invest in stocks? Is it because you heard multibagger stories on social media and feel you are missing out on something? Or did…

Readers often ask us,  “What return can I expect if I invest via SIP in an equity mutual fund for 10 years?”. The honest answer to “What return can I expect from a 10-year equity MF SIP?”, is “no idea”.  We have discussed this at length before Do not expect returns from mutual fund SIPs!…

With the SIP campaign a grand success, the mutual fund industry has started promoting SWPs. The sales pitch is this: Invest a lump sum in a hybrid fund like balanced advantage, dynamic asset allocation, aggressive hybrid and the like. As you keep systematically withdrawing, the remaining corpus will grow. Don’t worry about intermittent volatility; the…

We discuss some minimalist equity MF portfolios. This is intended for beginners new to the capital markets. Existing investors with multiple funds need not act on this. However, they should tell themselves not to buy more anymore and try to de-clutter as and when possible in the future. New investors should also recognise that a…

This is a list of the worst-performing equity mutual funds across every possible five-, four-, and three-period study period from the inception of direct plans (Jan 2013) to Dec 20th 2025. Some caveats before we begin:  (1) The definition of a “worst mutual fund” is as arbitrary as the definition of a “best mutual fund”….