The legendary 1940s technician Garfield Drew said "stocks don't sell for what they are worth, but for what people think they are worth." Market gurus, for decades have been debating whether it is the time in the market that determine your returns, or timing that ultimately counts what you take out from the market. This dispute gave rise to the whole new field of technical analysis that studies price beside time, eventually giving precedence to timing instead of time in the market. We are taught to buy it and bury it for the long term, and incredibly believe it, despite long periods of contrary and painful experiences. The emphasis being on the length of time you can hold your hand in fire, that is an investment is held in one's account, rather than its 'appropriateness', or the 'price' paid for the same. In reality, these are the very attributes that determine the extent of returns one can expect from an investment decision.
This story is from the June 2022 edition of Indian Economy & Market.
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This story is from the June 2022 edition of Indian Economy & Market.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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