Why You Shouldn't Sell for Market Timing

People who avoid declines by selling too often may revel in their brilliance and fail to reinstate their positions at the resulting lows. It's important to note that decisions to sell aren't always within an investment manager's control. Clients can withdraw capital from accounts and funds, necessitating sales. And the limited life span of closed end funds can require managers to liquidate holdings even though theyare not ripe for selling.