FYI: In my experience, investors sitting on a lot of cash are usually worried about equity valuations or the economy, and tell themselves and others that they're going to buy gobs of stock after a crash. The strategy sounds prudent and has commonsense appeal—everyone knows that one should be fearful when others are greedy, greedy when others are fearful. But historically waiting for the market to fall has been an abysmal strategy, far worse than buying and holding in both absolute and risk-adjusted terms.
Regards,
Ted
http://svrn.co/blog/2017/5/14/waiting-for-the-market-to-crash-is-a-terrible-strategy
