More than a century ago, John Maynard Keynes had underscored the need to conduct banking “on the safest possible principles” in India, a Crown colony the celebrated economist had described as “so dangerous for banking.” Even a century later, bad loans regularly pile up toward the tail end of every boom-and-bust cycle in India, where the lack of a vibrant corporate bond market makes banking vulnerable to crippling periodic write-downs.
Key to long-term investing: ‘Time in the market’ more important than ‘timing the market’
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