Trying to out-smart market timing can be dicey business. I'm not a stock broker, but investment professionals I trust warn against a market-timing investment strategy–essentially banking on timing your buys at the trough and your sales at the peak. It may work in the short run, but over time this has proven to be a very risky strategy dogged by low returns and unexpected losses. Despite that, I am told that brokers routinely deal with investors who are sure they can beat the system, mesmerized by the allure of grabbing just a little more of a good thing.
Some of the best insights in life come through restating the obvious. Here's something we all know: the insurance market, and the medical-professional liability market in particular, has been stuck in an unprecedented soft cycle, producing downward price pressure that has delighted our clients for more years than most of us would care to admit.
As things drag on with no clear inflection point in sight, it's tempting for even the best clients and brokers to become obsessed with squeezing every last soft-market dollar of savings possible out of this unique market situation.
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