Most investors try to outwit each other all the time. They buy stocks they feel will beat the market. To do so they study information that hundreds of thousands, maybe millions of others read. So they are not getting genuinely exclusive wisdom.
And they often pay advisers too much, when those advisers are in the same situation, looking for scarce nuggets of securities wisdom that are being picked over by the public.
And when investors buy, they are getting what someone else is selling. Maybe someone just as smart an investor as the buyer, or his adviser.
As for knowing when to buy or sell, research shows that no one has ever been able to accurately time the markets. Unless they have illegal inside information.
The best solution? Invest in low cost index mutual funds and exchange-traded funds, or ETFs ( See the Earl J Weinreb NewsHole® comments.)
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