%0 Journal Article %A Donald J. Goodwin %T Sixteen Years Since the Crash %B Struggling to Make 8% %D 2005 %R 10.3905/joi.2005.517179 %J The Journal of Investing %P 92-95 %V 14 %N 2 %X 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. %U https://joi.pm-research.com/content/iijinvest/14/2/92.full.pdf