Saturday, September 5, 2009
Missing the Market's Best Days
Oh, those misleading statistics. Patrick Crook a while back did a one-page summary of literature (all available online) challenging the buy-and-hold mantra: you must stay fully invested so as not to miss those outlier "up" days that account for most of the market's return over time. Entitled Market Timing: Fact or Fiction, it's a quick but nonetheless important read for a holiday weekend.