Someone always got out before the crash. Else there would have been no crash. The real issue is how many geniuses got out of 34 of the last 3 crashes.
” about some “genius” who got out before the crash.”
I am no genius, I just did not believe it was a flu. I did get out in time for the 2008. The others I lost my shirt.. This time, I got lucky and follow a gut feeling.. No numbers to justify pulling out. Pull out about a three days before the crash.
Becuase of the extended bull market and my age I had our assets positioned defensively to limit the damage in a downturn. But even then, the sell off has taken a heavy toll. That said, I will be nibbling my way back in when valuations are more attractive. I pay a lot of attention to value.
The price you pay is the single biggest determinant of what your gains will be. To paraphrase Buffett rule #1 is buy low. Rule #2 is never forget rule #1. Rule #3 is buy quality. :)