Investor behaviour

Time in the market vs timing it

Missing a handful of the market's best days sharply reduces long-run returns, and the best days often cluster near the worst.

What it means for your portfolio

Staying invested has historically beaten trying to jump in and out.

Does this apply to your holdings?

Get a free PortLens risk snapshot — your concentration, drawdown sensitivity and more, in plain English. No signup.

Studies (e.g. DALBAR, Morningstar 'Mind the Gap') suggest average investors earn less than the funds they own, by mistiming buys and sells.

Investors tend to extrapolate recent performance into the future.

General information only, not financial advice. Historical figures are approximate and provided for education.