As part of Investment Advisor’s 25th anniversary, we will be sharing some of that history with you from time to time. In an article written in October 1989 for what was then known as The Stanger Register, a young(er) Harold Evensky addressed an investing subject that remains as highly debated today as it was then.
“‘Timing for profit’ is a popular technique. But the fact is that market timing will add only marginally to your return from a diversified portfolio . . . The empirical evidence shows asset allocation is the critical factor in determining investment performance and reducing risk–an investment strategy in harmony with the long-term goals of good financial planning.”