A time for risk? Surely not

As it happened in 2008-09, a sharp downward move in the equity markets brings out all kinds of problems that were hidden away normally. A few days back, I heard from an acquaintance who lives in UAE how a well-known international bank wiped out all his savings. Although the UAE is a different jurisdiction, the saver is an Indian citizen, the underlying product is an Indian mutual fund and the bank operates in India too. Therefore the story might be of interest to at least those readers who have relatives abroad investing in India. Moreover, the basic lesson to be drawn from this episode is just as relevant in India. This person was approached by the bank with a scheme to invest in an Indian mutual fund using a special method which