If someone started investing in small cap just 1 year before first covid lockdown their 10,000 SIP of one year 1.2L will become as low as Rs. 72,903 and as high as 94,338 and we are facing Covid for the first time. Despite the challenges, it's crucial to remember that investments are long-term commitments, spanning decades, even when faced with short-term volatility. For those who continued their investments a year later, the SIP returns varied from 33.65% XIRR to 69.2% XIRR, showcasing the resilience and potential of small-cap investments. The recent market correction of over 20% in the small-cap category has led to 6-year returns fluctuating between 16.55% and 32.46%. Understanding this data reveals that while small-cap investments come with significant volatility, they also offer substantial rewards. Critics who disparage small caps often fail to grasp the underlying behavior and potential for handsome returns in the long run. Life is after all full of Choices. Choices have consequences!