Even though recent sell-off in midcaps and smallcaps coupled with rising crude oil prices has raised concerns, investors need not get baffled due to this as economy is currently well placed. Harsh market conditions are not unusual for investors and \u2018all is well\u2019 for the Indian economy, ace smallcap investor Porinju Veliyath told ET Now. The investors who have followed the market for 10 years, 20 years or 30 years, will not find anything unusual in the market, he added. In fact, markets now offer wonderful investment opportunity for midcap and smallcap investors, he advised. At present, there are around 800 companies in India which offer good investment opportunities, and an investor has to be smart enough to carefully choose the stocks, ace investor told ET Now. On being asked about his view on the famous trading strategy \u2018sell in May & go away,' Porinju Veliyath replied saying that this strategy is applicable only to traders and not for investors. 'Sell in May and go away' is a well-known trading adage that cautions investors to sell their stock holdings in the month of May to avoid a seasonal decline in equity markets.The Indian households have just started investing in equities which is a big positive, he added. Meanwhile, in a letter written to investors a week back, he had said: \u201cWe are going through a underperformance in PMS since January this year. An unusual sell-off in mid and small cap stocks is going on leading to irrational pricing of many of our portfolio stocks.\u201dDespite such phases of under-performance, midcap stocks have significantly outperformed the indices in the last 15 years, he observed. \u201cTo be very frank, I\u2019m a little baffled this time looking at the extent of erosion in portfolio value in such a short period,\u201d he said. \u201cWe will do some re-structuring, as required in a more rational market,\u201d he also added.