• Letters to the Editor
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    Picking Quality vs. Playing the Market

    Comments posted to “Using Seasonal and Cyclical Stock Market Patterns,” by Jeffrey Hirsch, in the June 2013 AAII Journal:

    If the data in the Stock Trader’s Almanac is correct, it would appear that the most logical approach to increase total returns would be the exact opposite of that recommended in the “more conservative” recommendation. If one wants to “buy low/sell high,” it would appear to make more sense to shift out of cash and into stocks in the months of May, June, August and September, and sell off stocks and go to cash in January and April. This might make some sense for someone who simply wants to “play the market” and not focus on picking quality stocks for the long haul.

    Personally, I think it makes a lot more sense to buy quality stocks at the right price and hold them until there is a proper sell point...which may vary considerably among positions in a properly

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