Abstract
The persistent gap between the lucky and unlucky investors of 1987 suggests buyers should cost-average in volatile markets. The historical returns on investments bought at the very top or bottom of the volatile 1987 stock market reveals a persistent performance gap. Anecdotal evidence from the 1998-2000 technology bubble suggests longer cost-averaging periods than the 12 month buy-ins common for various mutual fund and annuity contracts. A statistically significant gap in performance will never be closed.
- © 2005 Pageant Media Ltd
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