Timing the Markets
Mark Dorfman:
I hear this conversation all the time about markets being overheated, being overvalued. But I think that's really a function of time, right? So do markets go up, do markets go down? Absolutely. Anybody who's trying to time the market is destined to fail. There is no way we can predict exactly when markets go up and when markets go down and typically what happens is when the news comes out and it says that markets are overvalued clients call up and they go, "Oh, am I in the right spot? Should I be taking my money out of the market?" Invariably, when you remove your money from the market, the market's smarter than you are. It's going to go up and you're going to be sitting on the sidelines. That just seems to be how it works. Remember we're at practically all time highs in almost all the markets. So, I've had these conversations like last year, people moved some money to the sidelines, fearing it, but the NASDAQ's up 20%, the S and P's up 22%, the Dows up 17%. Some people put themselves in Bitcoin, which is more double this year. Okay. Even oil is up 70% this year. So, you can't make timing the market a strategy. It's not timing the market. It's time in the market that counts.
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