Originally Posted by cashmoney
Interesting to read all the genius investors posting how they successfully timed the market. Hope they realize they don't need to work a job for a living since they appear to be able to accurately predict market direction and timing. Sorry but I call BS. Study after study has been published that show market timers have significantly worse investment results than buy and hold investors. In fact trading frequency is directly tied to worse results.
Long term buy and hold dollar cost averaging investing, not panic selling or thinking you are smart enough to time the normal up and down market cycles, is what produces consistent good results. Positive investment results requires time in the market not timing the market.
well, I for one am not a genius investor, I was just sorta lucky. If I were a genius, I would have pulled out at the peak--I pulled everything out about 1.5% below the peak...
Sorry, but it's not rocket surgery to look at the overwhelming indicators that we were headed for a huge correction. It was a matter of "when", not "if". Corona virus was just the pin in the balloon.
In the aggregate you're right.--but just because most people don't time the market correctly, doesn't mean it can't be done. I'll be eligible to draw on it in 10 years, so for me this was an easy decision. "Buy and hold" through this would have been been ugly, so yeah, I'm glad I "outsmarted" the market. Keep in mind, this is the first time I changed the allocations in over 10 years. I'm generally a "buy and hold" investor, but it's insane to believe this wouldn't end.