This chapter explains the concept of market timing that suffers a decidedly negative reputation in the investment world sustained by Wall Street, news media, academia, government regulatory bodies, and most major industry constituents. Market timing is a term used widely by the mutual fund industry, where online access enables fund investors to move assets between funds or into cash with a few mouse clicks on any given day, regardless of size. Market timing is frequently associated with and painted with the same negative brush as ‘trading,’ though you may note that the timing aspect does not necessarily imply a trading frequency but refers instead to the act of determining when it is an attractive time to enter or leave the market. Rather than attempt to compete against tens of thousands of other investors, portfolio managers, advisers, and the like, all trying to pick stocks, it might make a lot more sense to focus on when it might be advantageous not to be in stocks at all.