Investors should keep investing during booms rather than step out, because firms that exited the dot-com boom early missed its best years. Listen
Ganesan described smart firms that invested in 1993-94, stepped out in 1996-97, missed 1997-99, and stepped back in around 2000, to their LPs' dismay. He said that rather than sitting out, investors can be more selective and lean on portfolio composition and position sizing. He also cautioned against setting long-term strategy from a snapshot of a disorienting market that 'changes quickly'.
“timing markets is really, really hard. I think you have to play the game, but I think you can play the game differently.”
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