I’ve posted Entry #58 to my weekly Beyond Buy-and-Hold column at the Out of Your Rut site. It’s called Nine Reasons Why Valuations Make a Big Difference in the Long Run.
Juicy Excerpt: The only difference between Buy-and-Holders and Valuation-Informed Indexers is that Buy-and-Holders say that there is no need to engage in market timing and Valuation-Informed Indexers say that those who fail to engage in long-term timing will sooner or later see their risk profiles go wildly out of whack (because the riskiness of stocks changes with changes in valuation levels). Is it really that big a deal?
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