A lot of people still have most of their portfolios in cash. They were scared by the market decline of 2008 and moved to cash. They’re waiting for the best time to invest. Even after stock indexes more than doubled, they’re still waiting. That’s why I like this post that argues against waiting for “the fat pitch.” His basic point is that the fat pitch doesn’t really come and when ti does, few of us will recognize it. Instead, invest with a margin of safety and practice risk management.
The thing is, most of us get wealthy in the markets by hitting lots of singles, doubles and just getting on base a lot. The best part about the market is that you don’t have to swing a lot. But that doesn’t mean you have to wait for fat pitches to try to hit out of the park. In fact, a lot of the time the market will help you score runs by simply doing nothing (ie, walking a lot).