Subject: Re: Timing: recent highs
...so does relate to a person's approach to mechanical investing

How so? I've seen mostly emotional responses self-justifying individuals' decisions to ignore backtests.

Which some often do. I did some selling at the bottom in 2020. When Jim called the bottom in 2009, I felt the market had further to drop. And there are other times I regret that I did not have the nerve to follow the data and thought it was different that time.

Chip