Big bosses talking up the market is very scary because things can go wrong: PV Subramanyam

economictimes.indiatimes.com:

PV Subramanyam, CEO, www.subramoney.com, says it is better to continue SIPs and not put fresh money in the market just because the home minister has said the market is going to go up. “He can talk up, talk down, anything can happen. So, do not bother too much about what these people say.”
When the prime minister says that after 4th of June the financial markets will set new records and never before seen highs and the home minister says buy more shares before the 4th of June, is this really a cue for investors to set out a new strategy? If so, what should that strategy be? As a certified financial planner, would you ask investors to stay put?
PV Subramanyam: The market has an uncanny habit of not listening to anybody. When everybody is bullish, that is the time when the market comes down. I am old enough to remember when the market was about 21,000, people said it will touch 25,000 but from 21,000, it came to 19,000. It quickly recovered but that is a different thing. But yes, if you ask me, it is scary. But the SIP market of Rs 21,000-22,000 crore, which is increasing regularly, supports the market. However, the volatility index is nowhere near something for us to be scared about.

In March 2020, the VIX was 70. So, when the volatility index is 70, it is a fantastic signal to show that there is fear in the market and you should be buying. So, volatility of 10 or 20 just means in the next 30 days, the market will fluctuate by 20%. It is not really a big thing to worry about, nothing to be done. If you are a long-term