FYI: Next month, the respected investor Howard Marks is coming out with a new book, “Mastering the Market Cycle,” whose title might inspire many readers to scour it for evidence that short-term market timing can work.
They will look in vain. You should scale back or crank up the level of risk you take in the markets, says Mr. Marks—but only when signs of euphoria or despair become extreme. The more often you do change your stance, the less likely you are to be relying on valid indicators.
Regards,
Ted
https://www.wsj.com/articles/you-can-time-the-market-just-not-all-the-time-1536922831
