The fund industry continues to try to hoodwink investors. A recent ad of UTI Mutual Fund, soliciting money for UTI Infrastructure Advantage Fund, prominently mentioned that the new fund offering was priced at Rs10. This is an old trick to lure investors to subscribe by giving an impression that they are getting something very cheap – ‘at par’. Commentators have highlighted this trickery...

The Indian capital market continues to witness extreme volatility and, for over two months now, there is no discernible trend -- the market is only lurching from one extreme to the other. For instance, on 17th December, the Sensex opened weak and steadily lost ground through the day to end a shade above 19,000, a fall of 770 points, another one of those frightening declines. Over the next...