Common investment advice is 'Don't try to time the market, just pick a risk profile and stick with it'.
With the inverted yield curve and a fair bit of talk about an upcoming recession - it seems perhaps sensible to switch one's managed fund from an aggressive to a conservative one, or to invest in bonds over stocks.
To be clear - I'm not talking about timing individual stock picks.
Now of course, there's a timing issue here - assuming that a recession is going to happen, we don't know if it's going to start next month, in six months, twelve months or two years.
So making that switch too early means you lose that potential higher return.
But it does seem that, say you had a crystal ball and you knew when a recession was going to occur, then switching to a conservative strategy for that period is the smart move to make.
Am I wrong on that?
In any case - can someone expound the case for 'not trying to time the market'?