Hindustan Times
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Lalit Modi makes 8 bombshell claims: On Dawood, PM Modi, IPL and more
Lalit Modi claims Dawood's network targeted him, attacks Rahul Gandhi, revisits IPL controversies and speaks on PM Modi in a wide-ranging interview.
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Lalit Modi claims Dawood's network targeted him, attacks Rahul Gandhi, revisits IPL controversies and speaks on PM Modi in a wide-ranging interview.
During a discussion on Sky Sports on the opening day of the first Test between England and New Zealand on Thursday, the idea of Sooryavanshi opening in Tests was raised.
โI called Bajaj at 8:52am and spoke for 26 seconds. I told him the fire was massive. He said he knew. I asked him to come and then hung up,โ
Labourer, sleeping on road, dies after soil for UP road project 'dumped' over him
R Praggnanandhaa boosted his Norway Chess title hopes with a third straight classical victory, defeating world champion D Gukesh in their Round 9 rematch. After weathering Gukeshโs early aggression in the Nimzo-Indian Sรคmisch, Pragg defended accurately. The win avenged his earlier loss to Gukesh and moved him within half a point of leader Wesley So heading into the final round.
Renowned constitutional law and parliamentary affairs expert Subhash C Kashyap passed away at 97. Kashyap, a former Lok Sabha secretary general and Padma Bhushan recipient, was a widely consulted authority on parliamentary procedures. His extensive writings on Parliament made him a significant figure in political science and law.
Congress reclaimed both the President and Vice-President posts in Chambaโs urban local body after 10 years and in Chuwariโs municipal body after 15 years
Sarma was sworn in as chief minister for a second consecutive term on May 12
Congress leader Pawan Khera is set to make his Rajya Sabha debut as the party has nominated him along with Mansoor Ali Khan from Karnataka.
Lalit Modi said he became a primary target for the mafia as he refused to allow match-fixing in the initial years of the IPL when he was in-charge.
John Bolton, former national security adviser to President Trump, is reportedly set to plead guilty to one felony count of illegally retaining classified documents. This plea agreement comes with a fine exceeding $2 million, as part of a case brought against him earlier this year in Maryland.
KS Bharat has retired from international cricket after playing seven Tests for India. The wicketkeeper-batter described representing the country as the greatest honour of his life and thanked his family, teammates, coaches and cricket administrators for their support. Bharat also expressed gratitude to Virat Kohli, Rohit Sharma and Rahul Dravid for their role in helping him achieve his dream of playing Test cricket for India.
The induction will take the strength of the council of ministers to 17, with two spots still remaining vacant in the 19-member cabinet.
OpenAI's CEO Sam Altman revealed businesses are grappling with escalating AI costs, with some customers exhausting annual budgets early. This surge in spending, driven by increased AI adoption and agent usage, is prompting companies to reassess their investments. Altman acknowledges the need for greater efficiency to balance expanding AI use with operational expenses.
The Arizona Cardinalsโ star player, James Conner, has been a subject of trade rumors for the last few weeks even though nothing has been finalised yet as he remains in the Cardinals for now until a deal is made.As many rival teams have been linked to him, the Las Vegas Raiders and the Dallas Cowboys have now been linked to the popular player.
Murali Kartik lauded Ajinkya Rahane as IPL 2026's top captain, highlighting his leadership of a depleted Kolkata Knight Riders squad. Despite injuries and early criticism, Rahane guided the team to playoff contention until the final league day, a remarkable turnaround from a winless start. Kartik emphasized Rahane's ability to rally the side against adversity.
For most investors, the focus is often on finding the right stock, entering at the right valuation, and identifying the next multibagger. Far fewer spend time understanding what may be the more difficult aspect of investingโknowing when to sell.Speaking at the ET Alpha Wealth Summit on Thursday on "The Art of the Exit," Rajiv Thakkar, CIO and Director at PPFAS Asset Management said that successful investing is not just about buying well but also about staying invested long enough for compounding to work. In fact, before discussing reasons to sell, he spent considerable time explaining why investors should avoid selling in the first place.According to Thakkar, one of the biggest mistakes investors make is selling because a stock has not moved for a few months.Also Read | ET Alpha Wealth Summit: Future alpha may emerge from neglected markets and asset classes, says Kalpen Parekh Investors often spend significant effort researching a company, understanding management quality, assessing industry prospects and evaluating valuations. Yet after purchasing the stock, many lose patience if prices remain stagnant for six months or a year.https://youtube.com/shorts/RiLj-X02NNE?feature=share"Investments are meant for wealth creation, not entertainment," he said, cautioning against treating investing like a source of excitement or constant action.Another common trigger for unnecessary selling is reacting to news flow. Markets are constantly bombarded with informationโwars, elections, crude oil fluctuations, interest-rate decisions, capital flows and economic data. Investors who react to every headline often end up making poor decisions.To illustrate this, Thakkar recounted the story of an investor who received advance information about the severity of the Covid outbreak in early 2020. Acting on that information, the investor sold his technology stocks before the market crash. While the prediction turned out to be accurate, fear prevented him from re-entering the market, and he ultimately missed one of the strongest rallies in technology stocks.The lesson, according to Thakkar, is that even correct information does not necessarily translate into successful investment outcomes. Thakkar was particularly critical of the concept of "profit booking."Investors often feel compelled to sell simply because a stock has appreciated significantly. However, he argued that wealth is created by allowing successful investments to compound rather than by repeatedly locking in gains.Frequent buying and selling may benefit brokers, exchanges and tax authorities, but it often works against long-term investors. Hyperactivity in portfolios can destroy wealth by interrupting compounding and increasing costs.Similarly, investors should avoid selling because another stock appears more attractive. This "buyer's remorse" mindset frequently causes investors to abandon good businesses prematurely in pursuit of seemingly better opportunities."If you manage to find a genuinely good business with strong management, a large opportunity set and reasonable valuations, the best course of action is often to simply stay invested," he said.Thakkar emphasised that investors in taxable jurisdictions such as India should maintain low portfolio turnover whenever possible. Unlike institutional structures such as mutual funds or investors in tax-free jurisdictions, individual investors face taxes and transaction costs every time they trade. Excessive churn can significantly reduce long-term returns.For wealthy investors, family offices and HNIs, the ability to remain invested and minimise unnecessary transactions often becomes a major source of compounding advantage.Also Read | ET Alpha Wealth Summit: India could unlock a $5 trillion export opportunity through FTAs, says Saurabh Mukherjea While most reasons for selling are flawed, Thakkar identified several situations where exiting an investment becomes necessary. The most obvious reason is the need for capital. If an investor requires money for a business opportunity, acquisition or personal objective, selling investments may be entirely justified. More importantly, investors must be willing to acknowledge mistakes.If an investment thesis turns out to be wrong because of flawed analysis, poor due diligence or changing circumstances, the best course is often to exit quickly rather than averaging down endlessly.According to Thakkar, investors who recognise mistakes early frequently outperform those who identify good opportunities but refuse to sell losing positions. Capital trapped in poor investments cannot be deployed into better opportunities. Fraud, naturally, represents an immediate reason to exit.One of the more challenging selling decisions arises when industries face structural disruption. Questions such as whether newspapers can survive the internet, whether thermal power can coexist with renewable energy or whether traditional automobile manufacturers can adapt to electric vehicles rarely have straightforward answers.Thakkar suggested that investors should not react impulsively but should continuously evaluate incoming evidence. Investment decisions should be driven by facts rather than sentiment. If the underlying business continues to deteriorate because of technological or structural change, investors must eventually acknowledge reality and exit.At the same time, distinguishing genuine disruption from temporary noise remains critical. Exceptional businesses are not immune to becoming overvalued. Thakkar pointed to situations where valuations become so excessive that future growth is already fully reflected in stock prices. In such cases, taking profits, paying taxes and reallocating capital may be sensible.He also noted that investors may sell a reasonably valued investment if a significantly superior opportunity emerges elsewhere.During the question-and-answer session, investors raised concerns about stocks that stop performing despite sound fundamentals. Examples such as Maruti Suzuki, Bharti Airtel and even silver investments highlighted a common dilemma: should investors exit after years of gains and subsequent consolidation?Also Read | MF Tracker: Can ICICI Prudential Multicap Fund sustain its strong track record in a volatile market? Thakkar's response was that even excellent businesses can spend years moving sideways. Companies such as Hindustan Unilever, Infosys and Bharat Electronics have all gone through extended periods of stagnant share-price performance despite remaining fundamentally strong businesses.Investors should therefore distinguish between stock-price performance and business performance. As long as the underlying business continues to execute well, temporary market stagnation alone is not a sufficient reason to sell.For investors worried about selling too early, Thakkar recommended a phased approach. Instead of attempting to identify exact market tops, investors can gradually reduce exposure over time. For instance, if a stock appears significantly overvalued, an investor might sell a portion every month rather than exiting entirely in one transaction.This systematic approach helps manage the emotional difficulty of selling while reducing the risk of poor timing. Another important consideration is position sizing. Addressing a question about highly successful investments such as Nvidia, Thakkar noted that even outstanding businesses can become disproportionately large components of a portfolio.When a single stock grows from a small allocation into a dominant position, investors face a different riskโwealth preservation rather than wealth creation. His solution is gradual trimming. Investors can periodically reduce oversized positions to maintain comfortable portfolio weightings while still participating in future upside.This approach may not maximise returns, but it significantly reduces the risk of catastrophic losses and helps investors sleep better during periods of volatility.Thakkar concluded by stressing the importance of diversification and long-term investing. Most individuals create wealth through a single business, profession or sector. Their financial portfolios should therefore diversify away from that concentration rather than amplify it.Whether through mutual funds, retirement vehicles such as NPS, EPF and PPF, or diversified portfolios, investors should focus on owning inflation-protected assets for long periods. "The lower the churn in a portfolio, the greater the opportunity for compounding," he said.Ultimately, successful investing is not about perfectly timing every entry and exit. It is about avoiding unnecessary activity, admitting mistakes quickly, remaining patient with good businesses and ensuring that no single investment becomes large enough to threaten long-term financial stability.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)If you have any mutual fund queries, message on ET Mutual Funds on Facebook/Twitter. We will get it answered by our panel of experts. Do share your questions on ETMFqueries@timesinternet.in alongwith your age, risk profile, and Twitter handle.
G Parameshwara's appointment as deputy CM in Karnataka's DK Shivakumar government revives memories of past power tussles within the Congress. Previously, Parameshwara, as state party president, clashed with CM Siddaramaiah over party control. His current elevation is seen as a move to balance caste and factional interests, pacifying him after he vied for the CM post.
Jose Mourinho could return to Real Madrid, but the move depends on Florentino Perez winning the clubโs upcoming presidential election. Perez has named Mourinho and Liverpool defender Ibrahima Konate as his priority signings if re-elected. He also dismissed speculation over Vinicius Juniorโs future, insisting the Brazilian wants to stay and remains a key part of Madridโs plans.
Sources added Annamalai is clear about his thoughts, and the party has assured him it will revert soon after discussing the issue.