“The Purpose of Long-Term Timing Is to Keep One’s Risk Profile Constant Over Time. That Aim Is Achieved on the Day That the Stock Allocation Change Is Made.”

Set forth below is the text of a comment that I recently posted to the discussion thread for another blog entry at this site:

“ We have never before seen prices remain at out-of-control levels for so long.”

Which means your timing scheme failed.

Not so. The purpose of long-term timing is to keeps one’s risk profile constant over time. That aim is achieved on the day that the stock allocation change is made.

Irrational exuberance tricks people and hurts people. All that you are showing when you point out that we have seen more irrational exuberance in recent years is that more people have been tricked and more people have been hurt than ever before.

I believe that we would all be far better off if we had been permitting honest posting re the last 40 years of peer-reviewed research all along.

Rob