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No market timers

Sep 29, 2022

The 2% rebound in the Nasdaq and S&P 500 yesterday took many investors by surprise and is a reminder how difficult it is to time the market. The founder of Vanguard and inventor of the index fund, the late Jack Bogle, is quoted: “The idea that a bell rings to signal when to get into or out of the stock market is simply not credible. After nearly fifty years in this business, I don’t know anybody who has done it successfully and consistently. I don’t even know anybody who knows anybody who has.” The below analysis from Banc of America illustrates what happened if you missed the 10 best or worst days per decade in the US stock market since the 1930’s. At ECP, we consider ourselves as long term investors sticking to our investment approach without wasting time, energy and transaction costs to time Mr Market.

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