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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: Petrol who wrote (882)11/22/2000 10:49:16 PM
From: TobagoJack  Read Replies (1) of 74559
 
For folks who say the market is undervalued, such as Ms. Cohen and associates, they are timing the market, even as their portfolio sailboat gets a workout in the great manic washing machine. Each day they hold is another day they decided to buy at that day's price.

Market timing is not only possible, it is our duty. Whether we are buy and hold or buy and sell types, the only issue is the skill with which we do the timing calls, and ability to accept the resultant punishment when we are wrong. For 2000, Ms Cohen and the like lost big even as they have just arrived at the entrance to a deeper still abyss of vaporized fantasies. They are positioned where they absolutely have to be right, else they are history. I hope most of us on this thread are positioned so as to be able to be wrong.
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