I don't think people are well served by reading this author.
• Why aren’t those 401(k) balances brimming over with wealth?
• Why aren’t those personal E*Trade and Schwab accounts bursting at the seams?
• Why isn’t there a yacht in every driveway and a Ferrari in every garage?
The author never seems to acknowledge that so many people don't make enough to both live and invest in any substantial way.
what is clear is that a basic form of price movement analysis can provide a useful identification of periods when portfolio risk should be reduced...What I am suggesting is that when sell signals are given, it is time for some basic portfolio risk management...If you use some measure, any measure, of fundamental or technical analysis to reduce portfolio risk as prices/valuations rise, the long-term results of avoiding periods of severe capital loss will outweigh missed short-term gains
The author advocates market timing.
The author goes on to seemingly make an incoherent case against a "buy and hold" strategy.
Investors are often told that holding cash is foolish. Not only are you supposedly “missing out” on the rocketing bull market, but your cash is being eroded by “inflation.” The problem is the outcome of taking cash and investing it into the second-most-overvalued market in history...While cash did lose relative purchasing power because of inflation, the benefits of having capital to invest at lower valuations produced substantial outperformance
More market timing and the false choice between cash and stocks as if fixed income doesn't exist.