New Delhi, May 2 -- Right from the start of my career as a personal finance journalist, I've pushed one idea to anyone willing to listen: invest in mutual funds through systematic investment plans (SIPs).

Last year, I finally convinced a friend-fresh off a run of successful stock picks-to start one. My pitch was simple: use mutual funds to build a diversified portfolio alongside direct equities.

What I didn't anticipate was how quickly global events would test that conviction. A war led by the US rattled markets, sentiment turned, and many first-time investors found themselves staring at losses. My friend's portfolio is no exception. But his reaction is.

Whether it's stocks he has held for a decade or his PPF contributions, he believes...