AFR article, page-19

Because unless your picking the bottom and top of the daily highs which is unlikely since the hot money (pro's are all over it) if you bought in say the 40 to 60 cent range your better off.. I made that mistake i had a very nice parcel at 34 cent and seen some nice green in my portfolio so i sold and then bought again at 1.30 which makes no sense really.As buffet says the stock market is a device for transferring money from the impatient to the patient.