“It’s hooey.”
So says Brett Arends at the Wall Street Journal re the “myth” (his word) that investors do not need to be engaging in long-term market timing (while of course also avoiding short-term market timing).
The column is titled The Market Timing Myth. I’ve sent Brett an e-mail expressing my best wishes, letting him know of the work we have been doing in the Retire Early and Indexing discussion-board communities for eight years now, linking him to The Stock-Return Predictor, observing that he has a tiger by the tale, and thanking him for offering us the first clear sign of a coming Spring here in the darkness and cold of our Economic Winter.
Juicy Excerpt #1: “They leaving out more than half the story.”
Juicy Excerpt #2: “Don’t let scare stories dominate your investing approach. Don’t be bullied.”
Juicy Excerpt #3: “For years the investment industry has tried to scare clients into staying fully invested in stocks at all times.”
Juicy Excerpt #4: “It was clear as a bell that investors should have gotten out of stocks in 1929, in the mid-60s, and 10 years ago.”
Juicy Excerpt #5: “Anyone who followed the numbers would have avoided the 1929 crash, the 1970s and the past lost decade on Wall Street.”
When the Wall Street Journal starts telling the truth about Buy-and-Hold, it’s OVER (all but some more stupid shouting by those seeking to “defend” this long-discredited “idea,” to be sure). Rave on, Brett Arends!
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