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Research Affiliates: Calling The Turns: Why Market Timing Is So Hard
FYI: The stock market is cyclical, and any investor who could call the turns—buying when prices are lowest and selling when they are highest—would make a fortune. But only a fortuneteller would say, “The peak will arrive next Tuesday morning,” and like the rest of us, she’d be guessing (and almost certainly guessing wrong). Regards, Ted http://www.researchaffiliates.com/Production content library/Calling the Turns_Why Market Timing Is So Hard.pdf
