Posted by on Sep 17, 2018 in Articles & Advice, Blog, Columns, Featured |

Image Credit: Jimmy Baikovicius, close-up photo of Salvador Dali’s “The Persistence of Memory,”

By Jason Zweig | Sept. 17, 2018 7:01 a.m. ET


In light of my latest Wall Street Journal column about investor Howard Marks’s views on market timing, I thought it might be interesting to unearth a piece I wrote many years ago.  I might write it differently today, but probably not much. (I’ve added a few thoughts in italics, but these are incomplete addenda.  The final word on anything is never written.)

The Trouble with Timing

Money Magazine, December 2003




For further reading:


Howard Marks, Mastering the Market Cycle: Getting the Odds on Your Side

Benjamin Graham, The Intelligent Investor

Jason Zweig, The Devil’s Financial Dictionary

Jason Zweig, Your Money and Your Brain

Jason Zweig, The Little Book of Safe Money

Articles and other research:

Samuel Lee, “The Danger in Valuation-Based Market Timing,” SVRN Asset Management blog

Capital Recycling at Elevated Valuations: A Historical Simulation,” Philosophical Economics blog

Howard Marks’ investment memos at Oaktree Capital Management’s website

Stocks: Are You Nervous Yet?

A Rediscovered Masterpiece by Benjamin Graham

Stocks Are Probably Overpriced, but Don’t Be Too Sure

This Simple Way Is the Best Way to Predict the Market

Lessons and Ideas from Benjamin Graham

A (Long) Chat with Peter L. Bernstein