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"Buying stocks no matter what the stock market condition is a ridiculous way of investing. Most investment clubs that follows that kind of a philosophy lost more than half of their portfolio's value."

I wonder if you have any data to back up this conclusion? Somehow I seriously doubt it. I've been an investor for 18 years and I have never let the whims and emotions of the market keep me from constantly and persistently investing. It's not the "market" that I'm buying, but rather individual companies with strong fundamentals and growth at their core. This method has paid off handsomely for me, and has proven itself over many decades for individuals as well as clubs. Nor have I ever seen my portfolio or that of my club lose half it's value. Not even close!

"I think that in order to survive in this maket is to stay in cash until there is a clear sign that the market has bottomed."

Is that all there is to it? Just look for that inevitable "clear sign" huh? I'd be careful what you label as "ridiculous." Who among us doesn't wish it were so easy?

"The person who ... invests on a regular schedule is better off than the person who studies and tries to time his investments, getting into stocks when he feels confident and out when he feels queasy."
-- Peter Lynch, Beating the Street, p. 36

"Don't try to buy at the bottom and sell at the top. It can't be done except by liars." -- Bernard Baruch (1870-1965)

It's not timing the market, it's time in the market that counts.
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