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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Mike M2 who wrote (90282)	3/14/2001 9:20:39 PM
From: Tommaso	Respond to of 132070

I think "market timing" ought to refer to moves made in weeks, months, or even 2-3 years--not secular maladjustments of values. Also, some of the caveats on timing in the past had to do with the huge commissions--relative to what one can get now. When I first set up and account with Merrill Lynch many years ago, I considered commissions a major hindrance to profit and tried to invest with a 2, 3, or even 4-year horizon. Not very exciting, but if you were right it worked out. Now you can decide you have made a mistake and get back out, only losing less than 1% of your capital. Still not smart. But what we are--and have been--talking about is not timing, but valuation. When someting is overlaued, you sell it, Undervalued, you buy it. You don't try to guess the general direction of the markrt, at least not in the short term. And on that basis, 95% of the stocks are still greatly overvalued.