Facts change, principles don't

A few months after the Chinese virus had started on its trail of death and destruction around the world, I wrote the following in my regular column in 'The Economic Times': Some of my readers say that ever since the Covid crisis started, I've been guilty of repeating the mantra 'stick to the basics' too often. They are completely wrong. I have actually been repeating this mantra for the last twenty-five years; Covid has nothing to do with it! I hope to keep repeating it for decades to come. Let's re-affirm something that is fundamental to Value Research and indeed to all investing: facts change, principles do not. Back in September 2002, when I and my (then tiny) team were struggling to bring the first issue of 'Mutual Fund Insight' into this world, the facts and information regarding Indian mutual funds were very different. Just as an example, the list of fund compa