There's a hypothesis out there that, on average, people have "worse than average" market timing. After all, mass stock sell-offs are highly correlated with abnormally low stock prices, and mass stock purchases are highly correlated with abnormally high stock prices...
Today's post, Investing for the Long Slump was originally published on 22 January 2009. A summary (taken from the LW wiki):
Discuss the post here (rather than in the comments to the original post).
This post is part of the Rerunning the Sequences series, where we'll be going through Eliezer Yudkowsky's old posts in order so that people who are interested can (re-)read and discuss them. The previous post was Failed Utopia #4-2, and you can use the sequence_reruns tag or rss feed to follow the rest of the series.
Sequence reruns are a community-driven effort. You can participate by re-reading the sequence post, discussing it here, posting the next day's sequence reruns post, or summarizing forthcoming articles on the wiki. Go here for more details, or to have meta discussions about the Rerunning the Sequences series.