Mumbai, Jan. 11 -- With equity markets hovering near record highs, many investors are choosing to wait, hoping for a correction before committing fresh money. The instinct is understandable: buying at lower levels should, in theory, boost long-term returns. The problem is that market bottoms are visible only in hindsight, and waiting for the "right" level often means staying out while markets move higher, or re-entering after prices have already rebounded.

The central question, then, is whether market timing meaningfully improves outcomes for long-term investors. Data across market cycles suggests it rarely does. In fact, obsessing over entry points often matters far less than staying invested over time. Missing even a handful of strong ...