Never Been a Market Timer

[FrugalToque]

Sometimes, people will speak of us Gen X people like we had a lot of luck with the timing of the market.

That's almost definitely true with housing. Those of us Gen X'ers who got into the market when prices were _sort of_ reasonable back in the late 90s and early 2000s did luck out with that.

But otherwise, wow, have I been terrible with "timing the market".

The chart below notes the time I announced my retirement - 2 years ago in 2022, Mar 25.

Now, if you're telling me that my retirement caused the stock market to tumble, I'm going to say that's flattering but nonsense, but it might as well be true because it basically describes my entire history when it comes to attempting to "time the market".
Ask me how much I lost on Nortel, trying to buy in low because it "has to come back".

Instead, my working life was just putting steady payments into tax sheltered accounts (RRSPs in Canada and later TFSAs once they existed) and patiently waiting for the inexorable randomly varied but steady growth of human progress to meander me towards retirement.

Toque.

[Heckler]

Therefore, diversify?

[HPstache]

Sometimes, people will speak of us Gen X people like we had a lot of luck with the timing of the market.

That's almost definitely true with housing. Those of us Gen X'ers who got into the market when prices were _sort of_ reasonable back in the late 90s and early 2000s did luck out with that.

But otherwise, wow, have I been terrible with "timing the market".

The chart below notes the time I announced my retirement - 2 years ago in 2024, Mar 25.
Now, if you're telling me that my retirement caused the stock market to tumble, I'm going to say that's flattering but nonsense, but it might as well be true because it basically describes my entire history when it comes to attempting to "time the market".
Ask me how much I lost on Nortel, trying to buy in low because it "has to come back".

Instead, my working life was just putting steady payments into tax sheltered accounts (RRSPs in Canada and later TFSAs once they existed) and patiently waiting for the inexorable randomly varied but steady growth of human progress to meander me towards retirement.

Toque.

2 years ago in 2024?  Are you from the future? :P

[FrugalToque]

Sometimes, people will speak of us Gen X people like we had a lot of luck with the timing of the market.

That's almost definitely true with housing. Those of us Gen X'ers who got into the market when prices were _sort of_ reasonable back in the late 90s and early 2000s did luck out with that.

But otherwise, wow, have I been terrible with "timing the market".

The chart below notes the time I announced my retirement - 2 years ago in 2024, Mar 25.
Now, if you're telling me that my retirement caused the stock market to tumble, I'm going to say that's flattering but nonsense, but it might as well be true because it basically describes my entire history when it comes to attempting to "time the market".
Ask me how much I lost on Nortel, trying to buy in low because it "has to come back".

Instead, my working life was just putting steady payments into tax sheltered accounts (RRSPs in Canada and later TFSAs once they existed) and patiently waiting for the inexorable randomly varied but steady growth of human progress to meander me towards retirement.

Toque.

2 years ago in 2024?  Are you from the future? :P

Oops ... fixed it.

[FrugalToque]

Therefore, diversify?

I do have some other stocks, but if I'd bought the ones you suggest, those would have gone down too.
That's how the stock market works.

[RobertFromTX]

These google finance charts are price only and exclude that 3.14% annual dividend the Vanguard Canada fund has.

[MustacheAndaHalf]

I think it may help to remember the intensity of the bull market in the late 1990s (Nortel's peak years, but this isn't specific to OP).

Imagine all of your friends suddenly do a new activity together.  Would you turn down all of your friends if they formed a stock-picking club?

The internet was in early stages and growing rapidly, and everyone expected it would be big - and investments would grow big.  How many years would your friends need to be right before you gave in?

[ChpBstrd]

Therefore, diversify?

Maybe therefore buy Canadian stocks!

I think it may help to remember the intensity of the bull market in the late 1990s (Nortel's peak years, but this isn't specific to OP).

Imagine all of your friends suddenly do a new activity together.  Would you turn down all of your friends if they formed a stock-picking club?

The internet was in early stages and growing rapidly, and everyone expected it would be big - and investments would grow big.  How many years would your friends need to be right before you gave in?

I suspect there are now AI stock-picking clubs, in the form of social media boards.