Rational Advisor

Through frequent play, you can increase your mastery over a golf course, as you learn the consequences of each action and this which are the right ones; if you hit the ball to spot A it’ll roll towards the hole. Whereas if you hit to spot B it’ll roll towards the water. eventually mastery is possible because the golf course doesn’t change in response to your play.

But fixing on tactics through which to master a market is not possible, because the market is shaped by those who participate in it, and thus it responds and changes. No course of investment action - even if ececuted perfectly - can be right for all markets and all times.

This is why
* Value investing does not work ALL the time
* Growth investing does not work ALL the time
* International investing does not work ALL the time
* US investing does not work ALL the time
* Canadian investing does nto work ALL the time
* Real Estate does nto work ALL the time
* Strategic Portfolios do not work ALL the time
* Tactical portfolios do not work ALL the time
etc

The reality is that there is NO investment that works ALL the time. including GICs

In fact, when an approach becomes too well accepted, the widespread reliance on it becomes a source of danger.

What does work is having a discipline and sticking to it through tough times.

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