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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (31618)	8/26/1998 8:45:00 PM
From: Larry P.	Read Replies (2) of 132070

MB, what do you think about market-timing (which you obviously use in your own portfolio)? The most persuasive opinions I've heard usually point out that no market timer has consistently been able to spot major market moves in advance. This was reinforced by an excellent book I recently read "Contrarian Investment Strategies: The next generation" by David Dreman. He points out many examples of guru's who got one major market move called correctly, followed by many mistakes. If your time horizon for the invested money is 25 years (about when I'll be either eager to retire or physically unable to continue working) should I follow Dreman's (and Lynch and Buffett etc) advice and stay 100% long equities. Disclaimer: I am currently 55 % in cash, having had my head handed to me as my small-cap portfolio melted away over the past 16 months or so Larry

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