Despite equity investment grabbing the headlines and sound-bites, it is yet to capture the major population of investors in India. The reasons are not hard to guess. Equity investment is risky. Coupled with weak regulation and poor implementation of standards, equity investment, apart from in few blue chip and few well-governed smaller firms, turns out to be a losing proposition for majority of investors. I am not advocating that investors stay away from equity investment but they should mix their portfolio with right exposure to equity, mutual funds, and debt to achieve a stable return which suits their risk profile.