There is nothing more satisfying than dabbling – and succeeding – in the forbidden arts. We would never recommend timing your buys and sells to capture peaks and troughs because it is impossible to do so. We don’t believe pretty charts tell us anything about the future and we believe the mere pursuit of precision gives the false impression that it can be attained. Even trying to time the market while knowing it can’t be done is dangerous.
We know all of this. Yet it still feels great to get timing right. Caltex is a fine example.