How Returns Happen

How Returns Happen

“Markets whip, stall and doddle. They rise, crash, burn, and then, almost inevitably…at some point…. they rip higher.” –Rubin Miller

06-20-2023

I’d like to make one correction to Mr. Miller’s quote above. Historically, markets don’t almost inevitably at some point rip higher. They always at some point rip higher. One hundred percent of the time markets have recovered from lows to go higher. This is just a historically true fact.

In any event, I came across a really good article that Miller wrote, How Returns Happen. Some real good information in this article.

If you still think market timing could work under certain situations, I bet this article will change your views. I love this quote by Miller: “Don’t avoid market timing because it can’t work, avoid it because if it doesn’t work, the results are unnecessarily catastrophic.”