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To: alanrs who wrote (113120)2/12/2002 10:08:12 PM
From: sea_biscuit  Respond to of 152472
 
...it seems more likely to me that the vast majority of investors put money into the market over many years in varying amounts as they are able.

The vast majority of the investors do the exact opposite. They put more money (even borrowed money) into the markets as we approach the top. During the bear phase, they might persist for a while. But after some time, it would begin to look more and more like throwing money into a bottomless pit, and they would stop "throwing good money after money gone bad"...