 Hello everyone and welcome to another episode of Entrepreneur India's Smart Investing series. I am Shibra Singh. I am Chief Correspondent and Entrepreneur in India and I will be moderating today's panel. So this week's episode is focused on equity investing and we kind of draw up a comparison between the two, you know, the two most popular avenues of equity investing which is through stocks and mutual funds. So the primary focus of our discussion is to, you know, inform our, inform small investors about whether one should take the MF route or the direct stocks route and if you're taking the direct stocks route then what are the common mistakes to avoid. So let me start the session by laying the ground rule for our attendees. Please sit in the area with maximum internet signals to avoid any lag in the webinar. We'll be putting up polls during the webinars. Please do participate and all attendees will automatically be muted but we encourage participation. So please drop your questions in the Q&A box right at the bottom of the screen and on Facebook Live for those who are attending the Facebook Live. We will spend approximately 15 minutes at the end of the session to answer questions. So please stay with us, keep your questions ready, drop them in the Q&A box of Facebook Live and we'll pick up each and every question. So let me start the session by introducing our speakers today. We have with us Archana who's the co-founder and CEO of Pickrite. She's in charge of product ownership, marketing, partnerships and growth among other things in Pickrite. She has previously worked with the Global Financial Services from UBS and a Silicon Mellon starter that was later acquired by Oracle. So Pickrite is not her first stint as in 2014 she founded a startup in the B2C space for hobby partners called WantHandway.com. You know after facing intense operation pressure she had to wrap it up and then she joined ShopX and eventually she founded Pickrite and her vision behind creating Pickrite is to create a company that makes investing as easy as ordering food from online delivery platforms. Welcome Archana, thank you very much for joining us today. Thanks for a lovely introduction. Thank you. Our second speaker is Harsh Jain, he's co-founder and CEO of Grow, Harsh heads customer acquisition, retention and business expansion at Grow and prior to Grow, Harsh has been product manager at Flipkart where he built products for marketplace and logistics. He has also been founder of a storytelling startup named Rujan Stoles and Harsh is an IIT dealing graduate with the VTEC Electrical Engineering and Masters in Information and Communication Engineering. Welcome Harsh, thank you very much for joining us today. Thanks Shibara. So we begin the discussion and you know I want to start by pointing out a very interesting trend that I have noticed when I was kind of collating data for this discussion which is that there's been you know in the last 4 to 5 months that it investment in the stock market appears to have found favour among retail investors and this is despite the volatility you know brought on by the COVID-19 pandemic in the ensuing lockdowns. So you know on one hand we have amphibetal which shows that net inflows and equitimetry funds have plummeted and you know if one has to simply infer it would be that you know because of the volatility people are moving out but on the other hand we you know are the appropriate forms and have reported a massive surge in the number of investors you know who are opening accounts for the direct equity investment and then there are large trading volumes delivery etc. So I want to ask both of you, you know both of you can take turns to answer this question. What do you think is actually driving this retail behaviour, the sudden shift from you know to direct stock trading? Okay I'll go. So yeah so I think the main sudden shift is two things one the pandemic literally forced everyone to be in the houses and having time and see basically for stock trading it's it cannot be your main job as you are going to office and doing you have a family to take care you cannot do trading at that time you need to be a long-term investor but the main thing now the pandemic has actually given time for everyone and like even in US you know this Robinhood investors like we have discount brokerages like Xeroda and now Grow also has come in yeah so the reach the digital reach to the traders has increased and because of free opening of accounts and the less brokerage charges in the sudden dip which has come in March people started investing and quickly realizing 20% 30% 40% returns and that's where people so there are two sides of this coin one great everyone started getting interest into investing and trading this negative side it is more like people think that actually they have ace the market or they know how to control the market or they can predict the market but that's the biggest challenge market cannot be predicted so I think both of these things because of the reach the digital sitting at home and the knowledge and of course people are talking about it and everyone wants to go put money here put money they take out and that's what encouraged people to start trading for for us for India it's especially really good because we have a very less percentage of population who actually trade or invest so any type of opening or encouragement awareness is very right for the for this particular generation because going ahead it's all investing yeah so I would agree with you Arjuna so the trends we are observing a lot of people are at home and what we're talking about the new set of new like the investors are coming in the industry if you look at the age if you look at what segment they are they are the younger millionaires like 25 to 35 40 years old people now they the disposable income in their hands is increasing now obviously they don't have much to spend they are sitting at home they have much more time to study research I mean how much ever they're capable to do but they still have more time to spend before you know investing in any product and also this is the kind of you know the markets are volatile then there are more you will anyway see more interest because people can see that how you know the money is moving up and down within few days whether it's for the right direction that they are learning from it or it's just from the entertainment point of view but both ways volatility adds more interest from the investors so that is the reason primarily by you know the stocks investment is increasing obviously you have the broader global reasons that there are the other asset classes like real estate and others are not as attractive so people would want to have an alternate source of income in long term they would want to have diversified investments and being digital being more accessible because of the you know digital products the apps and the websites which are making onboarding very simple very easy so there is a way for them to get into it there is a knowledge information available time available and there is an incentive for them to do so all the three you know checkboxes are there for people to get into it but having said that I just want to add so you compared mutual funds you know degrowth so to say so that's a very industry level phenomena not really with the retail investors so we on our platform we like we are we are probably you know we are kind of representing the retail investors in mutual funds on growth and we are seeing continuous increase in the number of SIPs or the equity investment inflows also so while the interest for stocks is going and maybe that's going 4x 5x from January February numbers but mutual fund in retail investors who are again digital savvy in the same millennial population and it's not going down okay I mean we would still be if you are doing 1,50,000 new SIPs a month now you'd be doing maybe 50,000 60,000 in you know mid of last year maybe in January a lack so this has been increasing continuously month or month and the shift is more in the millennials and the new generation I would say okay so I mean you both you know I mean whatever you said is completely true but that said I mean I don't think just this possible income and time is not enough you also require a kind of skill set because stock selection is a herculean task so you know like there are over 5,000 listed stocks and if I only have to look at the top 50 which make up the largest market capitalization even looking at how the top three performers and underperformers you know on 50 50 cents say 2016 it indicates how difficult it is to identify the top performance so in that case I mean just having time disposable income is enough they'll take that and you know it's top investing really for everyone because yes of course everybody wants to make money but what are the chances of losing money then making money so what do you have to say on that is it really as is it really for everyone just because you have the time for it I'll harsh can't take this I have taken the first one no worries so uh shipper is the stocks for everyone I mean my answer would be yes my answer would be yes so for the people who so for whom the stocks is not the right investment is someone who doesn't want to you know doesn't want to get higher returns doesn't want to increase their net worth over long term doesn't want to uh I mean he's happy with the is happy with you know the fixed deposits or the cash line in the bank is happy with the real estate or the gold or different asset classes it's really happy and satisfied and and it's not bad thing it is just a different mindset I would say but for anyone else I wouldn't I wouldn't disqualify a person who is not yet informed not yet knowledgeable about equity in capital market to be able to invest in the stocks or direct equity good so you know why I why I ask is that you know often when I speak to case studies for my stories I've come across people you know who can turn the stock market you know yeah for whatever reason maybe because their friends encouraged them to or just you know what we call FOMO they lose money and then I mean they have gone forever from stock then they don't even want to take the you know the safer route of mutual funds or whatever so from and from that you know a point from that place I'm asking that how how should retail small investors really look at stocks you know or I mean of course there's never a right on long time or whatever however you want to put it but I mean you know is it real for everybody because I think it also here I think I would like to touch upon the you know the point of risk capital and maybe people have I mean they just look at returns but what they don't maybe don't look at is that there's also a very huge risk involved yeah no I completely agree see that's what I wanted to just touch upon that I come up from a though I started my career in UBS Swiss Bank but I later on I was a core product tech architect person and I managed teams and launched great tech products so I come from a non-financial background and for me as a common person for me having that research to have the skills to do the research which is both fundamental and technical and having that time is a definitely a mammoth and a Herculean task right knowing what the company's fundamentals are where it has in what the investments are cash flows it is not every person's cup of tea and see and I think the while you rightly said stock market investing in equities is not for everyone because it is not just entry it is about averaging and exiting right time to average and right time to exit when this happens then only in the long term or even in the short term or whatever term gains can be otherwise people just dabble they come they dip they dip their feet and then they lose money and that's that's exactly how equity but having said that if you have a right self-directed platform okay and if you have a right advisory which we are actually pick right is trying to build we but if you have a keeping that to say if you have some right advisory who actually does this particular research not at a interest level where they have to promote penny stocks or what because of the commissions or anything but if someone does in a right way the research and does the exact what stocks when to enter average and exit then equity is really a best bet for any investor in the long term or in the short term but again not everyone has access to that type of research neither time and patience so we need to rely on the third party somewhere outsourced and add to that when I said everyone it's like whoever desires to get higher returns they should invest so when I'm suppose the things like right from you don't need to invest 100% of your income of course you know so people who are not understanding and not able to take their own calls can have a lower investment you can have as low as 5% of your portfolio so that you have the 95% probably in mutual funds or any other product that you believe understand them but like if you are if you desire to have higher returns if you desire to participate in the growth story India growth story and you you know desire to have long term goals to be met financial goals then everyone should ideally be investing they may take help from advisors of course if they're not able to do on their own so it's more like you want to climb Mount Everest right but if you don't start then you can never some of the people that's okay but some of the people will take others help and then they will climb so you know at least go for it that's the reason why everyone should start investing and then they will figure out what's the right thing and the best thing so you know what Arjuna said about I mean if you don't have the skill set then maybe you know looking at professional advisory or whatever in that sense do you think mutual funds is a more suitable you know avenue for the uninformed investor because you know they have experienced and skilled managers to look after the portfolio so in that sense do you think that's the that's the better route to maybe start with if not direct stock investing yeah say mutual funds definitely if you if you ask me yeah probably to start with for an uninformed investor they might be a great avenue to start getting into investing but having said that even choosing the right mutual fund is still a task right even in a direct platform where you can go and invest in the direct mutual funds you need to really know what is that mutual fund whether it suits you you used the right word which actually we are building a smart profiling risk appetite hyper personalization is one thing which needs to be coming into investment sector and it is that's where if I go to a direct mutual fund there might be buckets of mutual funds great mutual funds which actually matched more age and everything but not right to my investment thesis what is the sector probably I have invested in earlier what should I be investing so that level of intelligence still a user or an investor should be having when they have to put into a mutual fund again when they go with a distributor the same challenge distributor should be working for the investor to understand more and tell what they have to do then go for a distributor commission right so and so just I'll just end with one line for an investor to invest it is not just the previous two years three years return where a fund must have given 20% 30% returns but knowing where the complete asset allocation of the fund is and what is his or her risk appetite thesis and that's where but to start with mutual fund is the right way to start at least to see how it is because it is all sorted out and there are fund managers who can take care of it anything you would like to add here yeah absolutely so mutual funds are very very good products and they're there for masses there are fund manager professional fund managers sitting out there who are taking the calls and I mean sorry this is some pop up points it's the point all right yeah so so definitely people should invest in mutual funds and again I'll reiterate the point so I think it's a balance right you know and the younger you are you have a higher risk appetite and you have more you know interest in how your investments are doing I mean it's not really a black box this younger generation they want to see what's happening with the investment so that is why you have mutual funds which you are invested in you are secured you can do continue your SIPs and those that is your savings and investments your goals are being met and on the top of it if you have interest and if you have you know time or access to the right advisory or the right information that you understand to consume then you can start some part in the equity at some time and then overall you balance between the two so I'm not it's very difficult to you know compare these two products I think both of them are required in in a good portfolio how much of which depends on how much of how much time you can spend and how much help you can get yeah so this is essentially you know what you just said is I mean it's essentially refers to diversification so this is my next question I think this is a very interesting one I have often you know heard people have these conversations that you know has so for instance now that the market you know it's rallyed between May to July has your mutual funds been given you similar you know similar returns as compared to a large cap stock in that period and all those things and then they go on to say that I mean if not then what is the point of investing in mutual funds you know why can't you invest directly in stocks so I think in such conversations you know what is lacking is people don't really understand the point of diversification which mutual fund helps you you know kind of achieve because in a mutual fund a fund manager is typically investing in sympathy stocks and you know they would be large cap stocks and then they would be mid cap stocks and all those things so yeah I mean let me ask you Archana do you hear your plans I mean do you hear these kind of queries from your plans like mutual funds did perform in fact I am one of them even I don't I see that's exactly why I started Picret I said Picret needs to be a platform where diversification is the name of the game entry average exits are the rules of the game and it's not just like what Harsh was touching upon it is not just about mutual funds and equities in fact we are building a platform where you can actually diversify in alternate instruments as well there is so much out there we are based on different user behaviors risk appetites terms goals timelines when they want to actually get the money for the millennials mutual fund is a long-waited game you need to be really invested so that's that's where and definitely see when I say mutual funds didn't perform we can it see there is always a period where mutual funds can hit stagnancy and then they pick it up so patience is patience is really a virtue here right so people need to be very patient and when you say whether they gave returns what is returns it's again perspective for me 10 percent is a great return problem for someone 20 percent is a great return for some no 50 60 percent should be out there because I'm voting my great earned money because I'm entitled for it right so that's where the biggest that's exactly the biggest challenge what I see is it's it's always we need to keep calm invested stay invested in the right mutual fund and definitely returns would come but we cannot actually even compare happens to our in this mutual funds as you said it's actually different portfolios where you have different combinations and different stocks have been taken and you cannot really compare that with the reliance rally or a glenmark rally which has happened right now right six months seven months is nothing when you are talking about data we need to really compare the historic and and again as I again said it's very important to pick the right mutual fund or the right investment which you can effort and it should support your thesis it should support your different personalization then definitely I think every investment will return and that's where mutual funds too are pretty good in instruments I felt it but I want to keep invested in that we also have a question from our one of our viewers Lallik Sulanti Lallik please switch on your mic so that we'll be handing over the mic so you can ask the question between our speakers Lallik Sulanti hello like I'm audible yeah please go ahead Lallik actually my office then people say that you should always go for long term investment right so like I always wonder that like if I would have invested two years back into a stock market and in a hope of long term investment right and like then I would have lost my money in this I would have lost my money in this March right so like I'm always confused like what is the right time to exit you know the stock market like so I always wonder that okay I'll just answer it then and probably Harsh can be a bit because I he can take it up I'll just tell this so one thing is exiting is not always an option averaging is something which we really don't consider doing it and a long term is anything about for us we in peak right and for us as a thesis we think long term is anything about six months or 12 months is a long term for us and when in March the dip happened if we if there is money that the smart move was to keep averaging to accumulate more because what I understand from your question probably you are a well versed you know what you're doing you must have done your research and I put in the right stocks where fundamentals are strong and if you know these are the stocks then people should keep averaging and if they are the stocks which they don't hold any strength then then of course that's exactly what stock market teaches us that always go for fundamentals and technical analysis over gossips and rumors so I would suggest that keep on averaging if you know they are the strongest stocks than exiting and that will actually give you more returns and long term again it depends anything about one year is a long term to me so Harsh to you yeah so so really short answer to that is you should exit when you need the money okay done your homework right if you have been whether you're buying stocks or the mutual funds and you have gone through the process of you know why you want to invest in that company or in that mutual fund if you don't need the money then don't don't I mean don't exit that's that's a very very short simple answer is what I feel is that I think do having said that see anytime you see there's a fundamental change in the company or in the industry which is going to affect it in long term or in case of mutual funds and you see the fundamental you know change because the company that investment strategy if you go that level that investment strategy itself is not now applicable so more most of the times are smart or right chosen fund manager or the fund would have taken that step and change things but if you still disagree then that's a thing that's a time where either you know you exit and put some put investments in other products or you just exit it and you see but just timing the market is not not really a you know I mean it's not really the best thing that is work for people understood thank you so much thank you Lalit so I'll take one more question from Facebook so one of our viewers writes that if someone is expecting seven to eight percent returns from their investment and is equity really an appropriate vehicle for them who would like to take this so it's a quick before I actually get into the you know the details I would say see see equity is not an equity like it's not one product you know there are hundreds of companies listed like good companies out there listed and expecting seven to eight returns percent returns is a it's a fair I mean if that is the expectation I think there are a lot of lot more safer venues also possible both from even equity also you can look at the companies been growing consistently at that growth who are very you know big in size as much as you can consider how the country's GDP is going to grow for next three years five years and that kind of impact they will have on that company also so there are different ways to figure out you know if you have the set goal in your mind how you can achieve that but that doesn't get disqualified equity or mutual funds I think you can you can plan again in so the difference between short term and long term in the goals is like if you have a seven to eight percent or nine to ten or 15 20 whatever is your expectation in a long term then don't worry about the ups and downs in the short term yeah because if you're thinking that okay five years in five years I want a cumulative return of X percentage so then one year two years it can be double of it or it can be half of it it could be negative also but if you have the appetite to see that how that's going that's going and be able to stay with it and not you know exit if the fundamentals will write in your investment choice is correct then you will achieve it all right okay one more question what is the optimal number of mutual funds and stocks to have in one portfolio actually why don't you take it it's a very subjective question it depends on what exactly users how much he has a capital how much he can put it how much he can diversify what is his risk appetite so so ideally it depends on so if if he is a moderate risk then probably we would say put around 50 percent in mutual funds and 50 percent in equity in equity returns where you can get like what hash was in the fundamentally strong stocks and you can do but if you are a very very low risk taker then probably I would suggest more on your mutual funds right your own debt funds and you can actually then go ahead and see and slowly start getting into equity funds and then see then get into stock market investing because again as we know stock market investing is not every it's you need someone you need to understand you cannot be just going with the herd mentality or looking at the news and buying because nobody can predict what's going to happen so it again depends on the user profiling based on how much money they want to invest and based based on the risk we would say 30 percent or 70 percent that's where I would suggest all right. Okay we'll take one more question from Rishabh Kapoor. He's attending on Zoom Rishabh he's asked a question for his speakers please switch on your mic. Rishabh you're muted you need to unmute your speaker okay it's I think it's not getting through so I'll ask on behalf of Rishabh his question is what what is your view on forex trading? Harsh do you want to take that? No views. My answer is simple right if you understand see traders are very different mentality than investors. If you have that nick and if you understand how the markets move what are the factors you know what that changes the the currency rates and if you are I mean really really keen then I start small and then see how it goes but no specific you know view how where it is going what it is doing maybe your question. No probably no that's true so though in Picret we have forex trading advisory on it but again it again depends on how see even even you need to know that you need to be getting currency you need to enable currency trading in your DMAT account so it starts from there it's not just equity trading and from there you need to understand how the forex indices are moving what factors are exactly impacting your US dollar to change or what is that foreign policy just now came and like you there are so many things which happens even a 0.01 cent change as well so I would say go ahead for it if you really know how to do it it's it's a great one of the one of the asset class which is doing well and it's a niche asset class very few players actually do that and because not everyone can understand forex moment. Okay this this is an interesting one this has come from Facebook how important is the age factor while investing in different types of products so I think he's this gentleman Amit Bangya he's referring to all kinds of investment products which includes debt equity stocks which are funds and all these things so who would like to take this so I I mean I'll just add one line then that's now you can take it on see younger you are more time you have for taking the risk for seeing the effect of the compounding for diversifying and a lot of things so age obviously the only factor I feel is the risk appetite and not really about the age it's more of your life cycle where you are so a lot of younger people are nowadays earning really good salaries and they have a lot of disposable income and they feel very secure based on their you know education or the kind of jobs and all so they have they can go all in I mean they can you know do more investments they don't need you know different kind of planning so they can do different investments a lot of generation which was above us you know now they are financially stable settled so they are also able to take risk like for example my father he's investing in equity also right now I mean he's 60 plus and he's still doing it but if you you generalize things then you know age will not have you know the investment strategy it's more to do with your risk appetite and goals that's what I would say anything you would like to add here no no I completely resonate with Harsh on that it's it's very important to understand yourself in when you're investing how much risk how much you are every investment I strongly feel whenever even I'm investing am I ready to lose this one like rupees okay I was putting in I'll just take an example I was putting in gold commodity exactly when gold was falling so I was I was like I you should be ready like the happiness I think investing is like your meditation yoga if you get great returns you should become if you get lost you should become that's where you can keep on investing keep on averaging and you will see definitely returns in the long term so it all depends on how much you have the appetite to lose and how much you have the knowledge to invest right if you and and that's where you're and what see if you don't have enough money to even experiment or to invest then I should say go ahead and be very safe go into the mutual funds go into the equity put in the blue chip stocks where you can actually see your 8 to 10 percent returns and it is a safe bet it's it's very important to see your principle is always protected whichever age whichever life cycle whichever stage you are in I I think that's the advice what I want to give to everyone who is investing all right one last question we'll take it up this is on zoom so me and palm please unmute your speaker and please ask a question yeah good afternoon everyone so I have my question is let's say for a person or for a millennial learning a lack a month and you know what should be the considering that for a ratio of 0.3 to 70,000 how should you distribute this in mutual funds and stocks what should be the ideal percentage yeah how she want to go ahead take it I I don't know again I mean this answer is not straightforward so I would say you should have some percentage in equity and some in mutual funds is what how I would start if I were you and I have a saving and I'm young I don't have too many liabilities on me then I would I would you know put some amount maybe 450,000 in SIPs and the rest of the money will be more like a start with the play money and then over time learn about the stock investing pick the right companies start with them and then keep increasing my exposure if I have the interest and if I'm able to understand the how the direct equity market works I mean not really an advice I think this is what I would sorry yeah probably in six months we will release our self-directed investment platform where we know of your one like how your multiple assets you should be actually divided based on the personalization what we give but right now again I said I'm not really qualified to save just like we're looking where one like how much 70,000 where you should put it we need to understand what liabilities everything and still since you are a millennial and I would agree with her I start putting it in mutual funds where you know they have the portfolio asset is into the strong where your mutual fund doesn't really tank and start investing in strong fundamentally strong equities start putting around 40 30 or even like 40k in mutual funds 30k in equities and start playing around there are different investment options available too as you start in your investment journey thank you thanks a lot okay so I'll wrap up the discussion with you know one last question and I want to go to take up this one by one so if somebody has to invest in direct equity what are the three you know common mistakes that one should avoid so let's start with you Parish okay so the most I think people should not chase returns so I mean just don't go by you know the numbers that you see on the dashboards or I mean all the pages that this mutual fund or equity that gave so many returns so much return last one year three or five years definitely that adds some information in your choice how you should use that you should see how consistent that has been how based on the fundamental it has been things like that and second I would say is don't I mean if you're investing in stocks per se then don't get you know emotionally attached in the way that don't feel it's a there's a there's a bias because you took a decision now even if you know your decision was wrong the the price is going down and you now believe the fundamentals change but there's a bias no I don't want to see losses I will wait till the profit comes but that's not really the right strategy again it's very a lot of it depends on how much research you've done what you believe in and strongly things like that but don't go by that and third I would say is don't you know don't follow the like recommendations available on internet and just by the you know face elephant just just do your research just because there'll be a lot of people giving you tips information there'll be a lot of places so try to understand try to question them so there may be some good advice also good recommendation also in that noise but then you have to ask right questions I mean you have to ask why why why three times and then you'll know if you know the person who's recommending you is actually giving you some information and the same apply on when you're doing on your own research if you're reading you know content and you're reading different news they also ask the same question you know if the company some publisher is saying this is good option whether it's a mutual fund the top mutual fund or it's a top equity then just try to find why are they saying and if you then agree with that then I mean that you'll make less mistakes learn more all right what about you what do you have to you know what are the three things you have to say I think hush covered all of them it's the same the very first thing is selling when somebody has to buy the panic selling needs to be stopped first thing is yes of course fundamental research you need to know which stocks you can invest in and what are the stocks not coming under pressure not really getting into gossips rumors or reading some news and knowing yes I need to invest here and the impulse buying that is something which people need to control and thinking we should be thinking more like a business owner like how he rightly said that emotional attachment it's it's a business you need you need not be that that it's not like you got a stock and you're selling it keep it the more and if you believe it and you understand in and out of the company start building in the average it and then that's where equity I think that's those are the main common mistakes one is following others what they're doing not understanding what really they can buy or they subscribe to and selling when they should be actually buying so those are the main mistakes and research of course I wouldn't and fundamental research and technical analysis is top for every person who wants to do equity investment otherwise find a right advisor who help who can help you to do I have one more question here so I quickly take this up and then we'll grab up so Mishi no sorry okay I seem to have misplaced that question yeah so this is again the way he's asking that why is the market despite such a huge decline in GDP all over the world and is it the right time to invest like you know in fact this is this is a very appropriate question which I also have on my mind that you know I mean the economy and the markets seem to be behaving exactly opposite so what do you think is driving it and is it the right time to invest and is it the right time to invest is not my question this gentleman's question but yes yeah so even see I we are a pick right platform we have one of my co-founder is a registered investment advisor he has done it and I ask him every day and say that should I invest today tell me will the market go up so what what's his thesis is there is there is no reason no answer on why markets are behaving like this and markets can go and up this volatility will continue till probably next year even US elections probably next year till June when via a vaccine comes stabilizes and people really see through what damage the covid has done but having said that every day start if you really believe there are five stocks which you have done fundamental research start buying even if there is a minus 0.04 or a 0 1% default so start keep investing don't buy that's that's exactly what we tell to our clients and that's what Sid has taught me that you need to start slowly investing if you have 1 lakh distribute it across 10 days or 20 days across all those four five stocks and keep on investing because there is no right time or wrong time to enter into the market that's that's what it is you have to enter somewhere and Harsh's first centers investments has to start somewhere people have to be self dependent they have to because we are looking at a pensionless retirement and uncertainty people have to start investing so start investing small every day slow small dips keep keep on investing no right time wrong okay all right anything you would like to add here can you conclude the remarks no I think very very well articulated I think the right time to invest was yesterday the start investing was yesterday so true all right we had a really great session thank you viewers for taking up the time to attend our discussion today and thank you Buddha speakers for joining us it was a very insightful discussion and I hope that our viewers you know some takeaways from it thank you very much again everybody and have a good day