India, Nov. 7 -- A senior manager in a reputed mutual fund recently dropped a bombshell within the investing community. Speaking at a prominent (financial) investment conference, he said that the country's stock market has entered a new phase in this century. Unlike the 1980s, 1990s, 2000s, and 2010s, the entire set of risks are borne by the investors, both retail and institutional, and not by the financial entities. This is because the latter, which include development financial institutions, and banks, avoid stocks and equities for varying reasons. Thus, there are no safety valves for the direct investors. They are on their own, and they need to deal with their risks. There is no one to save them, and no one to make them aware of the anch...