Quote for the Week
It’s no secret that traders and market timers who come in and out of the market will miss some of the bad months, but they will also miss some of the good ones as well. When the market goes up, it often goes up rapidly. If you jumped in and out of the market and missed the best 40 months during the last 40 years, you would have reduced your average annual return from more than 11% to around 3% (less than you would have gotten from a money market fund). Market timing is speculating and it rarely, if ever, pays off. — Peter Lynch, 2001 (source)
From the Archives
Last Call
- Long-Term News – M. Housel
- Should You T-Bill and Chill? – Morningstar
- Trigger Happy: the Maths – Klement on Money
- Climbing the Maturity Wall of Worry – OSAM
- Pattern Recognition: Opportunities and Limits (pdf) – M. Mauboussin
- The Insight: Conversations with Annie Duke and Howard Marks (podcast) – Oaktree
- Joel Tillinghast on Fidelity Investments (podcast) – Masters in Business
- Behavioral Science in the Backcountry – Behavioral Scientist
- The Age of Doom – Infinite Scroll
- The Year A.I. Ate the Internet – New Yorker