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Originally Posted by Phanuthier
Thanks again to our 2 resident experts and others
To follow MoneyGuy's advice (and I realize the dangour of believing too much of the internet)...
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The difference is I'm not shy and am willing to tell people who I am. Otherwise, I agree; you could be taking advice from a 10-year-old kid. I don't mean Slava, who I know and is who he says he is. Unless he's a very old-looking 10.
Quote:
Originally Posted by Slava
I do agree with your sentiments about timing the market though moneyguy...but suffice it to say that there are a lot of people who try this, and over the past 12 months they have been rewarded for doing so.
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Sometimes you get lucky and it works, sometimes you lose those bets. I have a friend (not a client) who told me in 1995 he would not buy into the U.S. market because it was overpriced. He missed out on years of 20%-plus returns. My point is, it may have worked this time, but anyone who keeps making those bets over time is very likely to lose more than win. I'm old than 95% of you and have a large portfolio and I'm not willing to time the market with my money. I'm willing to sit tight and take another (possible) 15% decline for the assurance of knowing that I'll be there for the recovery, all of it. Someone who times the market has no such assurance.