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<p>[QUOTE=&quot;Cloudsweeper99, post: 1438343, member: 3011&quot;]While I think it is probably true that most people can&#039;t time the market, and that many institutional investors aren&#039;t permitted to time the market, I don&#039;t believe it is as hopeless as you suggest.&nbsp; So here are a few thoughts...</p><p><br /></p><p>Benjamin Graham confessed to having a lot of interest in market timing.&nbsp; He suggested that the average investor can do well by adhering to the advice of &quot;never buying stocks immediately after a significant rise, and never selling stocks immediately after a significant fall.&nbsp; In his book, &quot;The Intelligent Investor,&quot; he suggests a few ways for the average investor to take advantage of market fluctuations [i.e., market timing].</p><p><br /></p><p>Warren Buffett has freqently commented on the random walkers like Malkiel, indicating that it is enormously beneficial to value investors for people like Malkiel going around trying to convince people that there&nbsp; is no point in trying.&nbsp; His speech, &quot;The Superinvestors of Graham-and-Doddsville&quot; is available on the internet and is worth reading by anyone tempted to believe in random walk.</p><p><br /></p><p>There are several enormously successful investors [e.g., Richard Dennis] who all seem to use variations on trend following in their investment processes, which is essentially a form of timing.</p><p><br /></p><p>Jim Rogers states that he has been successful because he stays in cash until he spots something financially sound, cheap, and with a catalyst for change -- &quot;money lying on the ground&quot; -- and then he just picks it up.&nbsp; This is another form of timing.</p><p><br /></p><p>Robert Lichello has written books on various timing systems that have worked and continue to work.&nbsp; I have personally used this in my own investing since the 1970s and can attest to the soundness.</p><p><br /></p><p>So timing is more than luck.&nbsp; It is a combination of skill and science.&nbsp; EMT and MPT are a false investment religion, IMO.</p><p><br /></p><p>...just food for thought...[/QUOTE]</p><p><br /></p>

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