Part 10/15:
The Dynamics of Market Timing and Investment Discipline
Fitzgerald advocates for a disciplined, probabilistic approach to investing. He acknowledges that market timing remains challenging, and swings in valuation are inevitable. Yet, he stresses the importance of having conviction—staying invested long-term unless fundamental thesis points clearly in a different direction.
He warns against trying to buy low and sell high with precision, especially given the rapid pace of AI and digital markets. Instead, he recommends "trading around core positions," capitalizing on momentum while maintaining a steady core investment.