Patience or Panic

I recently received a call from a school friend, who, after much convincing had started investing his money through SIPs around two years back. He sounded panicky when we spoke.

“The markets are falling, Raju!” he said.

“Yes, I know,” I replied.

“Like you had advised, I have continued my mutual fund investments every month without fail, but I am worried now. Should I stop my monthly investment, or sell them?”

“When do you need the money you’ve invested?” I asked.

“I don’t need it for next 10-15 years,” he replied, “But I am worried that the markets may fall even further. And I don’t want to see my savings lose more value.”

I said, “If you want to take my advice, and if you don’t need the money now, do nothing.”

I tried to tell him that markets continuously test our patience, but more so at these moments when they are falling. But he wasn’t ready to hear it. A day later, he messaged me: “I sold half of my investments, and have stopped my SIPs for now. Will start when things are clearer.”

“They’ll never be,” I replied in resignation, “But do what you think is good for you.”

Markets are a mirror, and a mirror doesn’t lie, or flatter, or care about your feelings. They reflect exactly what you bring to them—your patience or your panic, your discipline or your desperation. Like they didn’t cause my friend’s panic but only revealed it. Markets are like that.

Markets reward patience, discipline, and the ability to stay still when every instinct is screaming, “Do something!” The great irony is that doing nothing is often the hardest thing to do, even though it’s usually the right move.

Now, the patience I’m talking about is not passive. It’s not about sitting around and hoping things work out. It’s about staying grounded in what you know to be true, which includes the quality of your investments.

Markets are volatile by nature. Prices will swing wildly, sometimes for no apparent reason. That’s not a failure of the system—it’s the system itself. The challenge is learning to wait without letting panic or fear take over.

When you panic, you lock in losses that could have been temporary. When you wait, you give time a chance to work its magic.

My friend’s story is a familiar one. Most of us, at some point, have felt that gnawing fear that things will never get better. Not to forget that our threshold for pain has come down, and we are easily pained, offended, and unsettled by the smallest disruptions.

But the key is to remember that panic is a choice, just as patience is.

Over time, the market can teach you resilience, but only if you’re willing to look at your reflection honestly. It will show you your strengths and your weaknesses. It’s not always a pretty picture, but growth rarely is.

So, if you are in the same boat as my friend and are worried about the recent fall in the markets, remember that the market isn’t testing you; it’s showing you who you are. And then ask yourself: is it panic staring back—or patience? Happy Investing!