Your “risk profile” is not carved in stone. It changes with the market, your age, your job, your experiences. (AI image)

If I had a rupee for every time someone told me “Sir, I am a moderate-risk investor,” I could start my own small-cap fund.“Moderate risk” is the NSE of personal finance: everyone mentions it, few can define it, and almost nobody behaves according to it.On good days, when markets are going up, your risk appetite looks like Salman Khan on a bike. Small-caps, options, IPOs, crypto—sab chalega. On bad days, when markets are falling, the same person suddenly wants only FDs, gold and a guarantee from the RBI governor in writing.So let’s start with a simple truth: your “risk profile” is not carved in stone. It changes with the market, your age, your job, your experiences, and, most importantly, your mood.At Value Research, we try to separate three different things that people mix up when they say “risk”:

The right level of risk is somewhere between these three, not what you feel on a good market day.Let’s put some perspective to this.Think of a 30-year-old with a stable job, no dependents and a 25-year retirement horizon. On paper, their ‘risk capacity’ is high: plenty of time, no big obligations yet. But if this person panics and wants to redeem whenever the price falls by 10 per cent, their ‘risk tolerance’ is low. Now add the third piece: if they want to retire at 50 with a large corpus, their ‘risk need’ is high—they probably can’t get there with just FDs.This is the real puzzle. You can’t just say “I don’t like risk” if your goals and income require some equity exposure. You also can’t just say “I like risk” if you have a single income, EMI, two kids and no emergency fund. The numbers and the behaviour both have to be in the room.Now, why does your risk appetite keep changing? Because you are human. In bull markets, recent returns are high, and everyone you know is bragging. You feel fearless and underinvested. In bear markets, the same portfolio suddenly looks dangerous and oversized. The external environment hasn’t changed you, but it has changed how you feel about the same risk.

FOMO at the top

At Value Research, our analysis of investor behaviour shows the same pattern: search interest in equity markets rises after euphoric returns and falls during market corrections. Emotionally understandable. Financially backward.So how do you pin down a level of risk that’s right for you, without letting your mood of the month decide?A practical approach is to start from your goals and timeframes, not from products. Suppose you’re saving for three buckets:

Match risk to goal

This is not a prescription; it’s a way to think. Once you fit your money into these buckets, your “risk appetite” for each bucket becomes clearer.The next step is to stress-test your feelings. Ask yourself: if my equity portion fell 20–30 per cent on paper and stayed there for a year, would I:

Your honest answer defines your risk tolerance a lot better than any form that asks, “On a scale of 1–5, how adventurous are you?”At Value Research, we try to reflect this in the equity–debt split we suggest. If the numbers say you can and should take more risk, but your behaviour clearly can’t handle it, we don’t push you into an 80% equity portfolio just because a formula said so. A 60% equity allocation you can live with for 20 years is far better than a 90% equity allocation you abandon in three.One more thing: your risk level should change with your life, not with the market. When you’re young, single and just starting out, you can survive more volatility because you have time to recover and future income ahead. As you approach a goal—say, your child’s college in three years—you should gradually reduce equity, even if markets are booming. The goal doesn’t care about your bravery; it cares about whether the money is there when needed.So, how much risk is right for you? The honest answer is: the amount that your goals need, your financial situation can handle, and your nerves can tolerate through at least one ugly cycle.The reason your appetite for risk keeps changing is that you’re letting the market decide it for you.If you want one simple takeaway, here it is: decide your risk level on a calm day based on your life, not on the market. Write it down, turn it into an asset allocation (how much in equity, how much in debt), and then let that guide your choices. Don’t increase equity just because the index hit a new high, and don’t dump equity just because the index hit a new low.Markets will always be moody. You don’t have to be.(Dhirendra Kumar is Founder and CEO of Value Research)If you have any queries for Dhirendra Kumar you can drop us an email at: toi.business@timesinternet.in(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)

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India on Friday said it is closely monitoring developments around a proposed US legislation that seeks to impose steep tariffs of up to 500% on countries procuring Russian crude oil, amid growing pressure from Washington, PTI reported.“We are aware of the proposed bill. We are closely following the developments,” External Affairs Ministry spokesperson Randhir Jaiswal said at his weekly media briefing.

The proposed legislation, authored by US Senator Lindsey Graham, targets countries that continue to buy Russian oil and resell it, with India and China among the largest current purchasers. Graham said earlier this week that President Donald Trump has green-lighted the bill.India has consistently defended its decision to import Russian crude, arguing that it is guided by market conditions and the country’s energy security needs. “Our position on the larger question of energy sourcing is well known,” Jaiswal said.“In this endeavour, we are guided by the evolving dynamics of the global market and by the imperative to secure affordable energy from diverse sources to meet the energy security needs of our 1.4 billion people,” he added.Graham, outlining the intent of the bill, said it would give President Trump “tremendous leverage” over countries such as India, China and Brazil to discourage them from buying discounted Russian oil, which he claimed was financing Russia’s war in Ukraine. The proposed legislation provides for a 500% tariff on secondary purchases and resale of Russian oil.The issue has gained traction amid reports that India has begun trimming its Russian oil imports. Earlier this week, Graham said Indian Ambassador to the US Vinay Kwatra had informed him that New Delhi was reducing purchases and had asked him to convey to President Trump a request to “relieve the tariff” imposed on India.The US has been pressing India to cut back on Russian crude imports, arguing that Moscow is using oil revenues to fund its war effort. India, however, ramped up purchases of discounted Russian oil after Western nations imposed sanctions on Moscow following its invasion of Ukraine in February 2022.As a result, Russia’s share in India’s total crude oil imports has risen sharply—from just 1.7% in 2019-20 to 35.1% in 2024-25.

Smriti Mandhana and Harmanpreet Kaur with Honey Singh in the middle (Screengrab)

NEW DELHI: The opening match of the Women’s Premier League (WPL) 2026 had fans talking even before the first ball was bowled on Friday. After the toss at the DY Patil Stadium in Navi Mumbai, the opening ceremony got underway and quickly grabbed everyone’s attention.The ceremony began with a performance by Harnaaz Kaur Sandhu, followed by Jacqueline Fernandez, who kept the crowd entertained.

The biggest surprise, however, came when popular rapper Honey Singh made his entry. His arrival instantly drew the spotlight, especially because both team captains, Smriti Mandhana and Harmanpreet Kaur, were seated right next to him.While the moment looked glamorous on screen, the captains seemed caught off-guard.As Honey Singh appeared, both Mandhana and Harmanpreet stood up but appeared unsure of what to do next. Harmanpreet began clapping along to the music, while Mandhana stood still with her hands folded for a few seconds before awkwardly joining in. The brief moment quickly went viral on social media.Watch:Royal Challengers Bengaluru had already won the toss and chose to bowl first against defending champions Mumbai Indians. This is the first time the WPL is being played in the January–February window.After the toss, RCB captain Smriti Mandhana explained her decision and named the overseas players for the match. “Dew plays a huge role at this venue, especially in the second half, and it’s a ground where conditions can change quickly. We want to bowl tight lines early and restrict the opposition. It’s been amazing,” she said.“The girls have gelled really well. It’s a young group, the overseas players have settled in nicely, and it’s been a fun environment. Everyone’s worked extremely hard, and we’re really excited to get started.”Mumbai Indians, who have won the title twice, will miss all-rounder Hayley Matthews due to illness.MIW vs RCBW Playing XIs:Mumbai Indians: Nat Sciver-Brunt, G Kamalini (wk), Amelia Kerr, Harmanpreet Kaur (c), Amanjot Kaur, Nicola Carey, Poonam Khemnar, Shabnim Ismail, Sanskriti Gupta, Sajeevan Sajana, and Saika IshaqueRoyal Challengers Bengaluru: Smriti Mandhana (c), Grace Harris, Dayalan Hemalatha, Richa Ghosh (wk), Radha Yadav, Nadine de Klerk, Arundhati Reddy, Shreyanka Patil, Prema Rawat, Linsey Smith, and Lauren Bell

Kevin Pietersen and Brendon McCullum (Photos by Getty Images)

NEW DELHI: After England suffered a heavy 4-1 Ashes series loss to Australia, former England star Kevin Pietersen has spoken out and called for changes in the national coaching setup. Pietersen believes England should think about bringing back former head coach Andy Flower and see him as a possible replacement for current coach Brendon McCullum.

Pietersen shared his views in a post on X, where he openly supported his former coach. He admitted the idea might sound unusual but felt it was worth discussing. According to Pietersen, Flower has changed over the years and now understands today’s players much better. “This is a WILD thought. I reckon one of my wildest. Can England bring back Andy Flower now that he’s changed and in line with the modern-day player? He gets Test cricket. I’ve been told by many players that he’s changed his ways since our drama. He’s winning leagues so really does get the modern-day player. VERY IMPORTANT! Wild, I know! Thoughts?” wrote Pietersen on X. Andy Flower has a strong record as a coach. During his earlier time with England, he guided the team to the 2010 T20 World Cup title and helped them win three Ashes series in 2009, 2010–11 and 2013. Under his leadership, England also reached the number one position in Test cricket. After stepping away from the England job, Flower found great success in franchise cricket. He has won major titles with Multan Sultans in the Pakistan Super League, Trent Rockets in The Hundred, and Royal Challengers Bengaluru in IPL 2025. Brendon McCullum, meanwhile, is still under contract with the England and Wales Cricket Board until the end of the 2027 Ashes series. However, after the Ashes defeat, McCullum admitted there might be someone better suited for the head coach role.

Companies have paid an estimated $133.5 billion in IEEPA-based tariffs through December 14, according to government data. (AI image)

The Supreme Court will not rule in the crucial case of US President Donald Trump’s tariffs case on Friday. The ruling is being watched globally for its implications on all major economies. Earlier it was expected that the apex court would rule on the important issue on Friday.At the centre of the case is the legality of the so-called “Liberation Day” tariffs and whether the US president has the authority to impose them under the International Emergency Economic Powers Act (IEEPA), a 1977 law that grants special powers during national emergencies. Back in 2025, lower courts had ruled that the tariffs were implemented illegally, however, allowed the import taxes to remain in force while the Trump administration appealed to the Supreme Court.

The justices heard arguments in the case on November 5, during which both conservative and liberal members of the court expressed scepticism about whether the law gave the president unilateral authority to levy such broad duties. The ruling, issued after weeks of deliberation, now provides clarity on the scope of presidential power under IEEPA and the future of the tariffs imposed using it.The decision carries major financial implications. Companies have paid an estimated $133.5 billion in IEEPA-based tariffs through December 14, according to government data, with the total now believed to be closer to $150 billion, as estimated by Reuters. Hundreds of companies have taken legal action, filing lawsuits in the US Court of International Trade seeking to have the tariffs they paid declared unlawful and demanding refunds. More than 900 lawsuits have been filed on behalf of companies seeking tariff refunds, collectively naming over 1,000 plaintiffs, according to a tally compiled by Bloomberg. The list includes major brands such as Costco, Reebok, Peloton, Dole, Revlon and Goodyear Tire & Rubber Company, alongside firms including Kawasaki Motors, EssilorLuxottica, Bumble Bee Foods, Schick Manufacturing, Playtex, Spencer Gifts, PopSockets, Conair, Xerox, Dooney & Bourke, Barnes & Nobles, PUMA, Lane Bryant, Steve Madden, Bath & Body Works, Bose, TOMS Shoes, e.l.f. Cosmetics, J. Crew Group, Blick Art Materials and Diageo, Forbes reported. Those cases were put on hold pending the Supreme Court’s decision.

NEW DELHI: Political consultancy firm Indian Political Action Committee (I-PAC) has termed the Enforcement Directorate raids an “unsettling precedent”. The probe agency condicted searches at I-PAC offices and the residence of its director, Pratik Jain, in Kolkata a day before, in connection with a coal smuggling-linked money laundering case.In a statement on Friday, the firm categorically stated that it had worked for parties including “across ideologies” including BJP, Congress and AAP among others.

“Yesterday, officials from the Enforcement Directorate carried out searches at the I-PAC office and at the residence of our Director, Pratik Jain, in Kolkata. It was difficult and unfortunate day for a professional organisation like I-PAC. We believe this raises serious concerns and sets an unsettling precedent. Regardless, we have extended full cooperation and will continue to do so as required, engaging with the process in complete accordance and respect for the law,” the statement said.“Over the years, I-PAC has worked in a professional advisory capacity with multiple political parties across ideologies and regions, including the Bharatiya Janata Party, Indian National Congress, Aam Aadmi Party, All India Trinamool Congress, Dravida Munnetra Kazhagam, YSR Congress Party, Telangana Rashtra Samithi (now BRS), Janata Dal (United), Shiv Sena among others. We do not contest elections or hold political office. Our role is limited to transparent and professional political consulting, uninfluenced by differences in political ideology,” it further said.High drama unfolded after the ED carried out searches at the Salt Lake office of political consultancy firm I-PAC and the Kolkata residence of its founder Pratik Jain, along with other locations in West Bengal and Delhi, in connection with a coal scam-linked money laundering probe. The ED alleged that chief minister Mamata Banerjee interfered during the raids, removed digital devices and key documents with police support, and forced officials to terminate the searches without making any seizures.The agency also claimed that around Rs 20 crore in hawala funds from alleged coal pilferage were routed to I-PAC and has sought court protection, including safeguards against tampering with seized data and relief from FIRs filed against its officials.

A woman was fatally shot by a US Immigration and Customs Enforcement (ICE) agent during the crackdown operation in south Minneapolis on Wednesday.Officials said the shooting occurred amid a tense confrontation as unmarked law enforcement vehicles moved through a residential neighbourhood during the operation.

Video footage circulating online showed officers ordering the woman, who was driving an SUV, to get out of the vehicle and attempting to open her door. As the vehicle moved, an ICE agent fired three shots. The SUV then travelled a short distance before crashing into a parked car.The woman was taken to Hennepin County Medical Centre, where she was pronounced dead, according to Minneapolis police. The Department of Homeland Security said the agent acted in self-defence after the woman attempted to run over officers, a claim disputed by city leaders and civil rights groups, who have called the killing preventable and demanded an independent investigation.The incident quickly drew national attention and triggered protests across Minneapolis. Hundreds of people gathered near the site of the shooting and later attended a vigil. Mayor Jacob Frey urged federal immigration officers to leave the city, stating that their presence was “causing chaos” and putting residents at risk.

Who was Renee Nicole Good?

The woman killed in the shooting was identified as Renee Nicole Good. She is a 37-year-old poet and writer who lived just a few blocks from where she was shot. Her mother, Donna Ganger, told the Minnesota Star Tribune that the family was informed of her death late Wednesday morning.“That’s so stupid that she was killed,” Ganger said, after learning some of the circumstances from a reporter. “She was probably terrified.”Ganger said her daughter lived in the Twin Cities with her partner and was not involved in violent activity or efforts to obstruct ICE agents. “Renee was one of the kindest people I’ve ever known,” she said. “She was extremely compassionate. She’s taken care of people all her life. She was loving, forgiving and affectionate. She was an amazing human being.”Good was the mother of a six-year-old child and also had two other children who, according to family members, lived with extended relatives. She had previously been married to Timmy Ray Macklin Jr, who died in 2023. Macklin’s father said he was shocked by the news and expressed concern for his grandchild. “There’s nobody else in his life,” he said. “I’ll drive. I’ll fly. To come and get my grandchild.”The Instagram account of Good described her as a “poet and writer and wife and mom” from Colorado who was “experiencing Minneapolis,” according to the Minnesota Star Tribune. In 2020, while studying creative writing at Old Dominion University in Virginia, she received the university’s undergraduate poetry prize. A brief biography posted by the university described her as someone who loved writing, reading and making art.Friends, neighbours and community leaders remembered Good as a caring and peaceful presence. At a vigil attended by hundreds, speakers described her as a good neighbour who was trying to look out for others.“She was peaceful, she did the right thing,” said Jaylani Hussein, executive director of CAIR-MN. “She died because she loved her neighbours.”

The fourth edition of the Women’s Premier League (WPL) 2026 officially kicked off on January 9, 2026, with a breathtaking opening ceremony at the DY Patil Stadium in Navi Mumbai. Blending Bollywood glamour with the fierce ambition of women’s sport, the event set the stage for the opening blockbuster between defending champions Mumbai Indians and Royal Challengers Bengaluru.

The ceremony followed the theme of “Confidence, Courage, and the Unstoppable Rise of Women in Sport,” reflecting the league’s massive growth after India’s recent ODI World Cup success. Highlighting the evening were star-studded performances from Yo Yo Honey Singh, Jacqueline Fernandez, and an inspiring narrative by Harnaaz Sandhu, creating a cultural spectacle that went far beyond the boundary ropes. As the lights dimmed and the entertainment concluded, RCB captain Smriti Mandhana won the toss and elected to field, citing the dew factor as the first ball of the 2026 season was bowled at 7:40 PM.

WPL 2026 opening ceremony: ‘Let the game begin’- Harnaaz Sandhu’s voice of empowerment

IIn a unique departure from purely musical acts, former Miss Universe Harnaaz Sandhu opened the proceedings with a powerful spoken-word segment that served as the “voice” of the tournament. Walking onto a specially designed pedestal at the center of the stadium, her words set an emotional tone for the season, describing the TATA WPL as a testament to the power of a woman’s dreams. Highlighting the league’s massive influence on the next generation, she emphasized that the players were competing for millions of girls watching at home, proving that their ambitions truly have no limits. She celebrated this as the era of confidence and courage, noting that the rise of women in sport has become unstoppable. Her performance culminated in a spirited Punjabi call to action, “Chakk de fatte sherniyan!”, which acted as the cue for a massive pyrotechnic display that transitioned the evening into the high-energy dance segments.

Here’s the video:

WPL 2026 opening ceremony: Jacqueline Fernandez’s Juventus style and Bollywood beats

Immediately following the narrative, Bollywood star Jacqueline Fernandez took center stage, captivating the audience with a high-energy dance act themed around female resilience. In a surprising and viral fashion choice, Jacqueline performed her famous hits, including the track ‘Yaar Naa Miley’ from the movie Kick, while wearing an official Juventus (Italian football club) jersey. This cross-sport aesthetic was a deliberate nod to the global influence of women’s athletics and the merging of international sport with Indian cinema. Surrounded by a team of dancers, she executed a flawless “Confidence and Courage” segment that kept the DY Patil crowd on their feet. Her performance underscored the WPL’s position as a premier entertainment property, bridging the gap between mainstream pop culture and elite-level professional cricket.

Here’s the video:

Also WATCH: Ellyse Perry shares emotional tribute to RCB ahead of WPL 2026 clash with Mumbai Indians

Yo Yo Honey Singh and the captains: An electrifying finale to WPL 2026 opening ceremony

The energy reached its peak when rapper Yo Yo Honey Singh made a grand entrance, starting his set seated right between the two rival captains, Harmanpreet Kaur and Smriti Mandhana, in the dugout. He kicked off his performance with his new track ‘Millionaire’, directly featuring the two iconic leaders, before moving to the main stage to belt out a mix of latest hits and timeless classics like ‘Blue Eyes’ and ‘Lungi Dance’. Dressed in an all-black outfit, Honey Singh’s performance was described as “electrifying” as he engaged with the wild crowd and moved through the arena with full energy. The ceremony reached its conclusion as all three performers, Harnaaz, Jacqueline, and Honey Singh, came together on stage for a final bow as the curtain fell, making way for the toss where Mandhana chose to field first under the humid Navi Mumbai lights.

Here’s the video:

Also READ: WPL 2026 Schedule: TV channels, Live Streaming details: When and where to watch in India, Australia, US, UK & other countries | Women’s Premier League

This article was first published at WomenCricket.com, a Cricket Times company.