I have just revisited a quite interesting analytical tool from the 19th century called 'Periods When to Make Money'. This is an economic cycle chart believed to originate from Samuel Benner, a farming businessman from Ohio, who published 'Benner's Prophecies of Future Ups and Downs in Prices' in 1875. Later, George Titch adjusted and popularized this version.

This chart divides the years into three main groups based on economic cycle theory. The first group is called 'Panic Years' – periods in history marked by financial crises, expected to recur in the future with significant price declines. The list includes 1927, 1945, 1965, 1981, 1999, 2019, 2035, 2053.

The second group is 'Good Times' – periods of economic growth when prices are high, considered ideal times to sell assets. These years are 1926, 1935, 1946, 1953, 1962, 1972, 1980, 1989, 1999, 2007, 2016, 2026, 2034, 2043, 2053.

The third group is 'Hard Times' – when prices are low, viewed as good times to buy and hold assets until the economy enters a prosperous phase. The years are 1924, 1931, 1942, 1951, 1958, 1969, 1978, 1986, 1996, 2006, 2012, 2023.

The purpose of 'Periods When to Make Money' is to help investors identify optimal buy and sell timings. However, one must be honest about its limitations. Economic cycles are not always regular or precisely predictable. Many economists believe that accurately timing the market is extremely difficult, if not impossible, in the long run.

There are too many factors – economic, political, geopolitical – that can influence the market in completely unpredictable ways. This chart is a useful historical attempt to understand patterns, but it should not be viewed as an accurate forecast of the future.

Instead of trying to predict short-term fluctuations based on 'Periods When to Make Money', it’s better to focus on long-term investment strategies and diversification. That is a more practical and sustainable approach for any investor.