New Delhi, June 16 -- There's a conversation that happens in almost every investor's head at the start of a new financial year. Small-caps had a phenomenal run last year. Should I be moving my SIP there? Or mid-caps are on a tear - am I leaving money on the table by staying put?

It feels like smart investing. Responsive and informed. You're not blindly holding an underperforming category - you're adapting to where the market is going. Except there's a problem with this logic, and it's not a small one: you're not adapting to where the market is going. You're reacting to where it's already been.

WhiteOak Capital put this instinct to a proper test. Two case studies, tracking what actually happens when an investor switches their SIP every y...