Terrance Odean: Don’t Be a Market Timer (Even if Trump Worries You)

During the euphoric 1999 market bubble, behavioral finance professor Terrance Odean — standout grad student of Nobel-winning psychologist Daniel Kahneman — urged overconfident investors not confuse brains with a bull market. Today, Odean’s message to nervous investors, fretting that the eight-year bull will soon collapse: Don’t be a market timer — most individual investors are bad…