The number one rule of your emergency fund cash is that it should be money you can easily access in a pinch. Anything that has a lock-in period does not qualify; money in your Public Provident Fund (PPF), Employee Provident Fund (EPF) or Equity Linked Saving Scheme (ELSS) cannot be part of your emergency fund.
Try these thought experiments to test your financial fitness
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Last Updated: May 09, 2021, 04:15 PM IST
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Synopsis
Mutual fund data shows a higher allocation happens in funds that have the best last one-year performance. What do you think these investors are doing? Chasing recent outcomes or process?
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By Amit Grover
How Einstein solved difficult problems? He used thought experiments. It’s a tool that uses impossible situations, creates hypnotical scenarios, and tries to think and find solutions. A lot of great thinkers use this method. The purpose of thought experiments is to think wild, push us outside our comfort zone and force us to think about answers which we usually try to avoid.
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NEW DELHI: As Mark Twain once said, “History doesn’t repeat itself, but it often rhymes.”
What happened to Sir Isaac Newton in 1720 might have a lesson for tip-hungry Robinhood traders in India and elsewhere, who sometimes try to judge a stock based on its name, or shun an IPO because of bad publicity only to discover that it has ended up delivering 75 per cent returns in just five months of listing.
Minneapolis-based mathematics professor Andrew Odlyzko dug out archives to find out how none other than the brilliant physicist and mathematician Isaac Newton lost much of his fortune in the South Sea bubble of 1720.