Markets Test Patience, But Eventually Reward It The Indian market peaked in April 1992, but it took until 1999/2000 to break that level—only to fall again. It wasn’t until October 2003 that the market decisively crossed its 1992 peak, never looking back. Must often ignored fact is market delivered staggering 18/19 times gain in just 10 years as on April 1992. There were no equity funds in 1992, but many launched a few quarters later. I tracked their performance from inception to November 2003. The result? A good fund manager added value then, just as a good FM will today. And here’s the kicker—if you waited just a few more quarters beyond Nov 2003, all returns moved into double digits! Meanwhile, gold—often seen as a “safe” asset—had two long periods of stagnation: 🔸 1946 to 1966 – 20 years of no returns 🔸 2011 to 2018 – 7 years of no returns But no one talks about this! Investors focus on short-term drawdowns in equity but ignore similar struggles in other assets. The key lesson? Patience pays. Staying invested in good funds with a long-term mindset is the real edge. #equityinvesting #marketcycles #longtermmindset #patiencepays