Meanwhile, an expectations forecast. Do not imagine that markets will rise or fall in a steady 200-250 point trot. In the information age of today, reactions to events are instantaneous and the velocity of these reactions has hyperjumped, showing just how efficiently markets absorb information. Finally, most money is made when there’s blood on the street. We saw some today. We’re likely to see some more over this week, perhaps the next as well. And lest we forget, this seven session fall of almost 3,000 points or 14 per cent still leaves the Sensex 24 per cent higher than a year ago, 85 per cent higher than 2006 and 4.2 times what it was five years ago. In a market that has only seen ‘returns’ for the past five years, it’s time to meet ‘risk’.

gautam.chikermane@expressindia.com