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Technology Stocks : AUTOHOME, Inc
ATHM 23.48+1.2%Nov 21 9:30 AM EST
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To: ahhaha who wrote (10980)6/10/1999 10:49:00 PM
From: BGR  Read Replies (4) of 29970
 
Ahhaha,

Relax.

Now.

Market timing by any other esoteric name (e.g. taking advantage of opportunity when it occurs) is still down and dirty market timing.

Also, you need to do some reading in modern finance theory. Remaining 100% invested in the market index over the long run over bullish and bearish periods (covering, even, the Great Depression) provides excellent returns - about 10%/year over 1926-1960, which was unbelievable as the index dropped some 90% at some point during this period and the risk free interest rate as well as the inflation rate was much lower on average over the period (Fisher and Lorie, Journal of Business, Jan 1964).

Of course when times are good, like the present, the returns swell to the 30%'s (and 80% of actively managed money starts lagging the indices, as it happenned last year).

Please let me know if you need a reading list of introductory textbooks in finance.

-BGR.
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