Fantastic article and a great perspective.
It’s almost impossible for non-professional investors to time the market. Sometimes, not even the best-of-the-best succeed. We could see that with Lehman Brothers, LTCM, or any great financial company that had to close their shop.
With that said, I still believe it’s possible to recognize when something is grossly undervalued. When trying to buy the dip, it’s essential to be patient. When Dow plunged below $1k in 1932 or below $9k in 2009, it was easy to see the opportunity. If you had some money at the time, it would make for a sound investment.
If you’re not an investor, wait until you see a ridiculous price, and then get in. Otherwise, don’t bother. Put it in a sock.