Detailed performance

The third-best strategy makes 453 switches and achieves 64% annualized return. If each transaction costs 0.1%, annualized return is 46%.

This strategy is up on 59% of days and makes an optimal fund choice on 37% of days. By fund, performance is: Japan: 57 switches, 74 days at 0.645% mean returnGold: 187 switches, 356 days at 0.241% mean returnS&P500: 209 switches, 570 da

For each fund, average profit per day in the fund is higher than average for that fund overall.

This is true even for the S&P500, where the average daily return from buy-and-hold is 0.07%. (The long-term average is 0.04%.)

The third-best strategy makes 453 switches and achieves 64% annualized return. If each transaction costs 0.1%, annualized return is 46%.