I think market timing,as I've defined it, has to do with short-term deviations from your long-term policy targets.

正如我之前定义的,市场时机选择,是偏离长期策略目标的,短期操作

耶鲁公开课 - 金融市场课程节选

The second, market timing, deals with short-term deviations from the long-term asset allocations that you establish.

第二,市场时机选择涉及,偏离长期资产配置的短期操作

耶鲁公开课 - 金融市场课程节选

If I came to the office next week and decided domestic stocks were too high -I want to move that target down to 8% -in the way that I've described market timing, that would be a market timing move and we're very careful not to do that.

如果下周我上班时,认为国内股票价格偏高,我会把权重调低到8%,用我描述过的方式,这就是个市场时机选择的操作,我们一般很谨慎,并不会轻易那么做

耶鲁公开课 - 金融市场课程节选