This bull market is ten years old and stocks at large are richly valued. No wonder the last few weeks have been scary for some, who haven’t seen a real bear market in a very long time. Should we take our cue from the recent pullback to sell some positions, hunker down in cash and “wait things out” for a bit?
Absolutely not. First, it’s very difficult (and really, impossible) to know when it’s time to “get back into stocks.” Hulbert Financial recently ran the numbers for Barron’s on the advisors it monitors. It focused on the best “peak market timers” – the gurus who correctly forecasted the bursting of the Internet bubble in March 2000 and the Great Recession in October 2007.… Read more