Opening Statement from the December 2012 Intelligent Investor (Part 2)

Those who followed our recommendations to sell shares prior to the market correction and repurchase on the way down through 12,500 have no doubt done very nicely. Remember that we do not need to be perfect in timing tops and bottoms. If we can sell towards the tops and buy towards the bottoms, over time we will significantly outperform every index you can imagine. The problem some investors have is that they want to wait for the exact bottom before they buy. Unfortunately, this often causes them to miss buying towards the bottom.