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Timing The Market: Frustrating The Majority

The following quotes are good ones to reflect upon any time pundits call for investors to attempt to time the market. Everyone claims they have forward insight. A majority are wrong a majority of the time. The best approach over the long haul is to remain fully invested in a diverse group of high quality stocks.

"Money managers are unhappy because 70% of them are lagging the S&P 500 and see the end of another quarter approaching. Economists are unhappy because they do not know what to believe: this month's forecast of a strong economy or last month's forecast of a weak economy. Technicians are unhappy because the market refuses to correct and gets more and more extended. Foreigners are unhappy because due to their underinvested status in the U.S., they have missed the biggest double-play (a big currency move plus a big stock market move) in decades. The public is unhappy because they just plain missed out on the party after being scared into cash after the crash. It almost seems ungrateful for so many to be unhappy about a market that has done so well. . . . Unhappy people would prefer the market to correct to allow them to buy and feel happy, which is just the reason for a further rise. Frustrating the majority is the market's primary goal."

Bob Farrell in Business Insider

"He gave us a quiz," Buffett said, "A true-false quiz. And there were all these guys who were very smart. He told us ahead of time that half were true and half were false. There were 20 questions. Most of us got less than 10 right. If we'd marked every one true or every one false, we would have gotten 10 right."

Lessons from the Dean of Wall Street (Benjamin Graham)

"It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent. There must be some wisdom in the folk saying, `It's the strong swimmers who drown."

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