When you’ve been in Financial Services for more than 5 years you will have heard the phrase ‘it’s time in the market not timing the market’ and this is usually followed by ‘if you missed the best 10 days….’This particular statistic has always fascinated me (probably something to do with being a paraplanner), I’d always wanted to understand what people actually meant when they said ‘if you had missed the 10 best days……’ so imagine my joy when I noticed Keith Robertson’s latest article in Financial Solutions – the magazine of the Personal Finance Society.
It starts on page 22 of the January/February 2009 edition and is titled ‘the best days of your life’ and in it Keith discusses the above statement and asks whether it is actually possible to miss the 10 best days. He also asks what the situation would be if you had missed the 10 worst days and whether there is any correlation between the best and worst days.
The article is excellent and well worth reading. If you haven’t got a copy yourself find a colleague who’s a PFS member and read theirs – you won’t be disappointed.