Good luck choosing a multi-asset fund. You're choosing an asset allocator, not just an equity stock picker. How much goes into gold, silver, equity and debt, and when those allocations change, can make a big difference. Equity, gold and silver can all be volatile. Putting them in one fund doesn't automatically make it low-risk. Diversification helps, but the weights still matter. Personally, I'd consider this category for a goal 5-7 years away, with a return expectation somewhere between the 10-year G-sec yield and 11%. That's my expectation, not an assured range or a floor on returns. The last two years make the allocation question especially interesting: who held gold and silver, how much did they hold, and when did they increase or reduce exposure? My takeaway so far: don't choose this category only by recent returns. Understand the allocation approach and the risks you're actually buying. My research on this concept is WIP.. the allocation to an asset class is so widely different amongst funds.

Rarely tweet at this time. When my sleep got disturbed, I looked at the phone. Microsoft is laying off 60,000 employees, 27% of its workforce across the world. This includes India as well. The term used is Voluntary Exit Offers (VEOs). Mails are already out to these employees. They are offered some separation benefits and asked to leave. Usually what happens in the industry is that if they don’t accept the voluntary exit offer, they are subsequently laid off. When you get laid off, separation benefits are not provided. Though called voluntary, in all likelihood these 60,000 people would have no option but to leave the company. At least from now on, the Finance Minister should consider not taxing severance benefits. Suddenly overnight, a huge number of employees in one of the world’s largest companies are facing an uncertain future. Already Oracle, including their Indian operations, has laid off a huge number of people. The trend is expected to follow. At least now you would understand why I’ve been saying for the last couple of years to create safe money worth 3 years of living expenses and not to go for any loans, including buying a house. The impact of IT professionals losing jobs would start showing on premium consumption, real estate prices and reduced demand across the economy. As I said, things would become worse before they become better. Newer industries and opportunities would come in the future. But the transition period is going to be painful.