RT Journal Article
SR Electronic
T1 Do Individual Investors Successfully Time the Market?
JF The Journal of Investing
FD Institutional Investor Journals
SP 18
OP 22
DO 10.3905/joi.2020.1.122
VO 29
IS 3
A1 Javier Rodríguez
YR 2020
UL https://pm-research.com/content/29/3/18.abstract
AB In this study, the author examine the market timing ability of individual investors in the US. The analysis is based on data gathered by the American Association of Individual Investors asset allocation survey during a period that spans more than 30 years. Individual investors correctly time the market during the full sample period and during sub-periods based on different market conditions.TOPICS: Style investing, portfolio theory, portfolio constructionKey Findings• Self-directed investors outperform investors that relay on professional financial advisors.• A sample of individual investors show good market timing skill during a 30-year period.• Timing ability is positive during bear and bull market conditions.