Quote:
Originally Posted by tvbound
I am no longer amazed at the number of people who claim to have perfectly timed the markets, when a downturn or upturn occurs.
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No one times the market
perfectly, but having a win loss ratio about 55% and having small losses and larger gains is all that is needed. Its not for everyone nor for many, but that doesn't mean no one. The outcome isn't binary, but it is easy to confuse a bull market with smarts, versus luck. . .
Even the longest investment streak with Bill Miller had a single down year, but higher every other year involves some buying / selling (or equity timing) of individual stocks. . And that's the job of an active management fund, to buy and sell stocks for gains and minimizes losses.
The phrase "No one can time the market!" is
a marketing phrase to convince/sell to the mutual fund / active management customers to give portfolio managers their money so that they can do it.
If you don't think you are being manipulated by advertising, just repeating that phrase means you are.