We will frequently quote and reference some of the great research that comes out of our long-term primary client funds custodian, Charles Schwab & Co., Inc. We often receive the question whether someone should be in or out of the market at a given time.

Darrell & King only keeps significant funds out of the market when we can point to a definitive reason to have less market exposure. We find profitable short-term market timing a challenge best suited for someone else. The graph illustrates choosing to be out of the market for 10 of the top days during 2009 would have led to a negative 16.9% return (assuming you began the year with $100,000 portfolio) for the year, while the S&P 500 returned 26.5% that year.