ICSA a mutual fund over the many years or last many years has published an equity values in index that seems to have worked very well for you. The recent index suggests that we are in a situation that warrants incremental investment in debt and even partial profit booking. What are the biggest risks you see on the horizon that investors must take care of? I think the biggest risk at this point of time is the kind of investment that retail investors are making an IPO, he says.