Based upon feedback I received from one of my valued seven readers, what follows is a refinement of the views expressed in the previous post about market timing.
Recall we're talking about predicting the direction of the equity market as a whole, or a large swath of it like the S&P 500 --- not individual stocks.
I didn't mean to imply that one cannot utilize deep experience and technical analysis to correctly predict a stock market peak (or trough) some of the time.
There's an old saying that even a broken clock is right twice a day.
However, who's consistently made these bold calls with enough accuracy to "beat" the market? If you accept the proposition that the answer to that last question is nobody -- why would one ever wager more than they could afford to lose by trying?
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