New Delhi, May 18 -- In 1945, the Second World War ended. Hiroo Onoda did not get the memo.

A Japanese intelligence officer stationed in the Philippine jungle, Onoda kept fighting for nearly 30 years after Japan surrendered-dismissing every leaflet as enemy propaganda, ambushing patrols, living off the land. He laid down his arms only in 1974.

I think about Onoda when I watch investors react to volatility-not the ones who panic and sell, but the ones who say: "I'll wait for clarity. I'll get back in when things settle."

They are waiting for a signal that may never come.

Do not seek certainty in inherently uncertain domains.

Since US and Israeli strikes on Iran began in late February, that instinct has been everywhere. Oil surged. The...