A perfect prediction

As I'm writing this page, all of the 249 diversified equity funds in India are within 5 per cent of their all-time highs. Basically, anyone who is currently invested in an equity fund has made money. Please re-read that statement carefully. The key part of the sentence is 'is currently invested'. So, I'm not saying that everyone has made money. There are plenty of mutual fund investors who have lost money. Typically, these are the ones who were timing their way in and out of their investments. There were also those who were not actively trying any such timing but invested in large lump-sums instead of SIPs. For all practical purposes, this is the same as timing, even though the motivations might differ. It never works. Since February 2020, when China unleashed its virus on the world, all simplistic predictions about how events will affect equities have failed. Those who have tried to do any front-running of the event cycle have had a bad time. I remember, last year in August, on my weekly show on All In