TY - JOUR T1 - Sixteen Years Since the Crash JF - The Journal of Investing SP - 92 LP - 95 DO - 10.3905/joi.2005.517179 VL - 14 IS - 2 AU - Donald J. Goodwin Y1 - 2005/05/31 UR - https://pm-research.com/content/14/2/92.abstract N2 - The persistent gap between the lucky and unlucky investors of 1987 suggests buyers should cost-average in volatile markets. The historical returns on investments bought at the very top or bottom of the volatile 1987 stock market reveals a persistent performance gap. Anecdotal evidence from the 1998-2000 technology bubble suggests longer cost-averaging periods than the 12 month buy-ins common for various mutual fund and annuity contracts. A statistically significant gap in performance will never be closed. ER -