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Old 08-03-2007, 01:14 PM
meditate89 meditate89 is offline
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Join Date: Feb 2005
Posts: 124
Default Re: Financial Advisors

Dcifr- I didn't see you wrote equities in one of your first posts until I re-read it... anyways,

I think we pretty much have the same viewpoint and have just articulated it differently.

To sum up :

If you believe that the market is efficient, and Price=Value at all times, it would be ridiculous to try to time your purchase for reasons previously stated- expectation + time value of $

If you DON'T believe that the market is efficient, and you are somewhat smart/motivated, it would be ridiculous to purchase index funds at any price. After all, it would be quite a chore to value an index fund =) And much much more importantly because I'd rather own a select few very mispriced assets.
I understand why someone who accepts that EMT is BS would still buy index funds though- they're lazy/have no knowledge of mkts+ no desire to learn/ etc.
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