Yesterday was a classic example of why I do not spend anytime whatsoever discussing market timing, defined as the purchase or sale of stocks based on expected short-term price swings rather than conclusions formed by studying the business itself. At the time I am writing this, General Electric—a staple in pensions, trust funds, 529 educating plans, 401(k)’s, IRAs, and taxable accounts around the world—is up over 10.8% on the day, which is a heck of a jump for a company that is valued in the $250 billion range.
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