![]() ![]() I did not even think to know what exactly it meant, but I took it to imply that it is not possible to time the stock market. While considering the options, I remembered the efficient-market hypothesis, which had come up as a casual aside by one of my mathematics professors in college. Should I ignore the Chairman of the Federal Reserve's admonition and invest in stocks anyway, or was there a more prudent strategy? As I tried to structure my portfolio, I was faced with a dilemma: on the one hand, I knew that the younger you are, the more you should invest in stocks, but on the other hand, Alan Greenspan had recently given his "irrational exuberance" speech. ![]() At the time, I was not thinking much about planning for retirement, but everyone told me I should take advantage and invest at least the matched amount, so I followed this advice. One benefit offered by my employer was a 401(k) with matching contributions. I was 21 when I graduated from university and started my first full-time job. ![]()
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