Mutual fund manager extraordinaire, Peter Lynch, he of Fidelity Magellan fame, is one of the most successful and celebrated professional portfolio managers of all time, so it makes loads of sense to listen when he speaks, especially when its about the myth of market timing.
“Some other person put in the first day of the year, their return was 11%. I mean the odds of that are very little, but people spend an unbelievable amount of mental energy trying to pick what the market’s going to do, what time of the year to buy it. It’s just not worth it.”
- Lucky Timer: 11.7%
- Jackie Gleason: 10.6%
- Happy New Year Investor: 11%
Nobody, but nobody, is that smart or that lucky to find all the market tops and bottoms. Does not happen. Lucky Timer exists only in stories like this and cocktail party lies.
So, if there is a moral to the story it’s this: DO NOT worry about timing. Its not about timING. Its about time IN. Be the Happy New Year Investor. Be the Market.