Introduction
It is better for me to read the study notes compared to watch the video. I like to read and also I have to push myself to learn some basics first. One of ideas is to read as many pages as I can.
Study notes
Here is the study notes written by a finance professor. Here is the link of study notes.
Chapter 7. Technical analysis and the random walk theory
Page 14
Using technical analysis for market timing is especially dangerously. Because there is a long-term uptrend in the stock market, it can be very risky to be in cash. A study by Seybun found that 95% of the significant market gains over the 30 year period from the mid-1960s through the mid-1990s came on 90 of the roughly 7500 trading days. If you happened to miss those 90 days, just over 1 percent of the total, the generous long-run stock market returns of the period would have been wiped out. The point is that market timers risk missing the infrequent large sprints that are the big contributors to performance.
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