Well, since I didn't go to cash at the top, or anywhere near it, take my advice with a large grain of salt.
But, that said, I agree with the idea of holding positions for the long term.
What this piece also misses is the tax cost of market timing.
I've got a few losses, but very few.
Likely will do some tax trades before the end of the year.
Your Money - Switching to Cash May Feel Safe, but Risks Remain - NYTimes.com:
"By fleeing for the comfort of safe and insured, however, investors with a time horizon beyond a few years may be doing real damage to their long-term finances. If you’re tempted to make a big move to cash right now, you’re doing something called market timing. It’s an implied statement that you’ve figured out the right moment to get out of stocks — and will also know the right time to get back in."
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