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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Knighty Tin who wrote (263016)10/8/2003 10:41:07 AM
From: Tommaso  Read Replies (2) of 436258
 
Apparently "market timing" seems synonymous with in and out trading. For that matter, in and out trading is not nearly as risky as it once was. Still not usually a good idea, but with online brokerage fees making possible trades at 1/10 or one percent (mine cost me more) why not? Years and years ago when Merrill Lynch was all there was for me, it took 5-10% of my capital to make a round trip in a stock. So you waited two years and hoped for at least 50% capital gains.

I am not a day trader but the activity in my accounts certainly would have horrified a rational investyor of the 1950s and 1960s.

In any case, you might as well call John Templeton a market timer nowadays--or even Benjamin Graham.

Yes, the rebalancing crap is a bunch of hooey. Like the advice in the newspapers: consult a reputable agent; deal with a reputable lawyer.

Wait till all these accounts that are "balanced" between "growth stocks" and "income stocks" and long term bonds all get hit with inflation and rising interest rates.

Many brokers are going to start hearing things from clients like the things people were saying to precious metals salespeople ten years ago, one of whom called up and told my wife what a bad man she was married to who would say such things to him <G>.
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