“Timing the market is incredibly difficult, as it’s actually two decisions to be made: when to get out and when to buy back in,” McGinnis says.
Take the early days of Covid, he says, when investors were looking to pull out of the market amid the financial chaos, claiming that they would get back in when things got better. ”[But] selling low and buying high is not a way to make money in the market.”
Instead of trying to time the market, the best route for long-term investing success is to stay the course. Avoid getting wrapped up in the day-to-day news cycle and let your initial investment strategy play out.
