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Regarding "timing the market", the distinction I like to make is with "ready for events". Once in a while the market will offer a bargain price on a company you have studied, maybe have a small investment in. Knowing that price is a bargain depends upon your independent study of the company.

I always think of timing the market as making a purchase in anticipation of a near-term future move, whereas value investing often involves entering or exiting the market in reaction to a recent (presumably short-term) move. I've seen comments in TMF articles that seem to regard both of these as "timing the market" (the ol' "quality at any price" argument) and the distinction seems to be a ready source of confusion for many.

Ultimately, all you have to know is that "Mr Market" is a bit unstable, have your own reality based valuations, use a margin of safety, and stay cool.

Good advice, as always.

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