New Delhi, May 27 -- Investor behaviour hasn't changed. There was a sense that investors are getting rational and thinking long term, but a sustained drawdown proved that not much has changed.

Despite access to more information and better financial literacy, investors still exhibit the same emotional tendencies: fear, greed, overconfidence, herd behaviour, and loss aversion.

Emotions override logic. Else investors would not be asking about continuing SIPs (systematic investment plans) or switching from equity to gold. These questions often stem from a desire tofeel in controlduring uncertainty. Gold may be a hedge in uncertain times, but switching purely due to short-term fear ignores the long-term growth potential of equities. SIPs are...