Something I'm pondering that maybe a Boglehead can answer as true/false:
There is a frequently cited situation where the average investor under-performs the average performance of a fund/investment, referred to as the "Behavior Gap".
Since the returns in a fund/investment across any specific time period looked at do not occur at regular intervals spread across the period measured, is it actually a certainty that the average transaction will be poorly timed within the measurement period as explained by the "Inspection Paradox" (from Renewal Theory )?
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