Timing in and out of the market is a fools game. You don't have to take my work for it:

https://www.marketwatch.com/story/th...ims-2019-02-06

"Investing legend Peter Lynch once said, “Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves.”

Agree the subject of stocks (or shares) in NZ is negative. I just hope that the introduction of CGT would make Kiwis understand more about investing and discourage them away from profiteering off real estate investments (which can deprive those that need to buy their 1st home etc.). I get that NZ real estate investing has a clear tax advantage over any other investment in NZ (but I think that door will quickly close this year). The real issue is will NZ equities perform as well as overseas equities once NZ's introduces CGT on them? Because at the end of the day, the fund manager has to choose which company (or shares) will profit more. EBITA only tells half of the story (hope these Kiwi Saver fund managers realise that because EBITA is a poor way of measuring the company's performance).