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Strategies & Market Trends : Gorilla and King Portfolio Candidates

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To: Uncle Frank who wrote (35762)	11/30/2000 9:38:06 PM
From: Mike Buckley	Read Replies (1) of 54805

I'd like to add to Frank's great comments. [Maintaining a cash position] presumes you can identify a bargain (bottom) and profit from it, which is the cherished belief of all market timers. I don't have the exact figures in front of me, but if you were not in the market the few days the S&P 500 moved the most during the last 30 or so years, you would be showing no profit. If I remember correctly the number of days was less than 10% of the time. Is it possible to know which 10% of the time it was CRITICAL to be in the market? I don't think so. In my mind, the solution to that dilemma for people with incomes is to stay fully invested, spend less than you earn, and invest the savings as it is gradually accumulated. By spending less than you make you will have cash to take advantage of market opportunities. --Mike Buckley

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