PT - JOURNAL ARTICLE AU - Donald J. Goodwin TI - Sixteen Years Since the Crash AID - 10.3905/joi.2005.517179 DP - 2005 May 31 TA - The Journal of Investing PG - 92--95 VI - 14 IP - 2 4099 - https://pm-research.com/content/14/2/92.short 4100 - https://pm-research.com/content/14/2/92.full AB - 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.