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Strategies & Market Trends : Gorilla and King Portfolio Candidates
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To: que seria who wrote (47339)10/1/2001 9:53:55 AM
From: Mike Buckley  Read Replies (1) of 54805
 
que seria,

Moore's call was a needed free edit to the GG, in time to do some good. Wish I'd listened better, but I had learned to "bargain" shop. If I hadn't gone partly over to the dark side early this year, I'd really be hurting.

If Moore's request that his listserv change the topic of discussion to macroenomics is good because it is the right thing to do, he should have done it about two years and 3500 points ago.

For me, the whole issue of market timing is that I don't have the confidence that I can do it properly on a regular basis. (I also don't believe anyone else in the mere mortal category of proficiency can do it either, but that's only somewhat relevant.) The whole point of the LTB&H philosophy is that it minimizes taxes and acknowledges that while successful market timing would be fantastic, it's rarely if ever successful over long periods of time. That's not to say that market timing doesn't work; it does. Instead, it says that very, very few of us (certainly not I) can make it work consistently.

While my portfolio would certainly be a lot more valuable today if I had successfully implemented market timing two years ago, I doubt very seriously that it would be as valuable as it is if I had tried it over the last ten years. Had I tried it, I can almost guarantee that I would have missed the run up of the 1990s.

--Mike Buckley
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