Denton County Living Well Magazine January/February 2017 | Page 39

The Intelligent Investor “ Learn every day , but especially from the experiences of others . It ’ s cheaper !” — John C . Bogle What Experts Say about Market Timing

The Intelligent Investor “ Learn every day , but especially from the experiences of others . It ’ s cheaper !” — John C . Bogle What Experts Say about Market Timing

Alliance Bernstein Research : “ In 2005 we interviewed more than 500 financial advisors . 83 % of the advisors we polled felt that if investors had stuck to their original asset allocation plan prior to 2000 , they could have cut their losses by more than half over the following few years .”
Frank Armstrong , author and adviser : “ Endless tinkering is unlikely to improve performance , and chasing last period ’ s stellar achiever is a losing strategy .”
David Babson , co-author of Investing for a Successful Future : “ It must be apparent to intelligent investors--if anyone possessed the ability to do so ( market time ) he would become a billionaire quickly .”
Barron ’ s Guide to Making Investment Decisions : “ If we haven ’ t said it enough , we ’ ll say it again : Market timing is dangerous .”
Bernard Baruch , famed investor : “ Only liars manage to always be “ out ” during bad times and “ in ’ during good times .”
Fortune : “ Let ’ s say it clearly : No one knows where the market is going-experts or novices , soothsayers or astrologers . That ’ s the simple truth .”
Wm . Bernstein , author and adviser : “ There are two kinds of investors , be they large or small : Those who don ’ t know where the market is headed , and those who don ’ t know that they don ’ t know .”
Jack Bogle : “ After nearly 50 years in this business , I do not know of anybody who has done market timing successfully and consistently . I don ’ t even know anybody who knows anybody who has done it successfully and consistently .”
Bogleheads ’ Guide to Investing : “ No one can predict what the stock market will do or which mutual fund will outperform in the future . This is why we diversify -- so that whatever happens we will not have all our money in losing investments .”
Jack Brennan , former Vanguard CEO and author of Straight Talk on Investing : “ If you ’ re determined to succeed at investing , make it your first priority to become a buy-and-hold investor .”
Warren Buffet : “ The only value of stock forecasters is to make fortune-tellers look good .”
Ben Carlson CPA , author of A Wealth of Common Sense : “ Not only is market timing hard , but you incur fees , taxes and market impact costs , as well .”
CDA / Wiesenberger : “ Market timing is an ineffective strategy for mutual fund investors .”
Andrew Clarke , financial adviser : “ A successful investor has a good knowledge base , a well-defined investment plan , and nerves of steel to stick with it .”
Jonathan Clements , Wall Street Journal columnist : “ Take my word for it . Buy-and-hold is still your best long-run strategy .”
Dalbar research ( 2015 ) “ Mutual fund investors who hold on to their investments have been more successful than those who try to time the market .”
Dick Davis , publisher of Dick Davis Digest : “ No one can time the market on a consistent basis .” Paul Farrell , CBS MarketWatch : “ Forget market timing in any form .”
Rick Ferri , adviser and co-author of seven books including The Bogleheads ’ Guide to Retirement Planning : “ The best practice for investors is to design a long-term globally diversified asset allocation plan based on present and future financial needs . Then follow that plan religiously , through all markets good and bad .”