You try to time your investments
People have a tendency to "shun the market when it's getting drubbed and venture back only after it has recovered," financial journalist Andrew Tobias explains in the updated version of his 1978 investing classic, "The Only Investment Guide You'll Ever Need."
However, "It is precisely when the market looks worst that the opportunities are best; precisely when things are good again that the opportunities are slimmest and the risks greatest."
In short: Don't get overly excited when the market is judged to be healthy, and remember that bad things aren't obvious when times are good. As Buffett likes to say, "You only find out who is swimming naked when the tide goes out."
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