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Subject:  Re: 70 year old looking for asset allocation? Date:  8/31/2011  11:01 AM
Author:  drippinfool Number:  69483 of 88542

"I suppose that asset allocation is OK for somebody who does not have any idea how to evaluate and trade stocks. But it is really an admission that you do not know what is going on."

Guilty as charged. I freely admit that I cannot predict the future price of a stock with any accuracy.

"A successful trader knows what and when to buy, and also what and when to sell."

And by definition we can't all be successful traders, now, can we? Unless we live in Lake Wobegon and are all above average.

"It might be more profitable to attack that problem rather an asset allocation."

And it just might not be.

-drip (a firm believer in holding low cost, whole market index funds)
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