Tim Buckley: I look back at 2008‒2009, and I remember people panicking—investors I respected. Some of them were getting out on March 9, 2009. They couldn’t handle it anymore, and that’s just when the markets took off. No one had predicted that. You always have to remember the markets are forward-looking, and you don’t know when they’re going to take off—just like you don’t know when they’re going to tumble. So it’s best to be invested than to try to time it, because it’s close to impossible.

Karin Risi: That’s exactly right. 


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