Because a high percentage of the upward market movement occurs in just a few days of the year. Miss those days, and your performance could suffer dramatically. If you'd missed the top 10 days, you would still barely have outperformed a money market fund. Moving your money in and out of the stock market can be a very risky strategy. This is a hypothetical example intended to demonstrate the benefit of long-term investing.
Past performance is no guarantee of future results.
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