Paul, apropos to your advice to Laura about the utter futility of market timing, here is what John Bogle, chairman of highly successful Vanguard Group, and one of my favorites on Wall Street, has said:
In 30 years in this business, I do not know anyone who has done it (market timing) successfully and consistently, nor anybody who knows anybody who has done it successfully and consistently. Indeed, my impression is that trying to do market timing is likely, not only not to add value to your investment program, but to be counterproductive.
Flamethrower, are you listening?
Paul, thanks for all your great posts. I try to read them all, and find I almost always learn something.
GN |
