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David Laibson
David Laibson
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Professor of economics, Harvard University

Individual investors should not try to play the market. They should hold a long-run diversified position and should not tweak that position in response to weekly news events; in fact, they should not tweak that position in response to major annual news events. The market will have priced in those events long before individual investors can respond.

Just sit on your hands.

NEXT: Mark Kiesel

Last updated April 28 2008: 1:20 PM ET
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