It is really not possible to know this on a repeatable basis. Every year is different. The only real concrete, academically proven calendar themes are maybe to 'not' sell in November as this tends to be peak tax-loss selling season, and if one owns small caps perhaps sell them in January, as there is often a small cap bounce that month. Other than that, it is largely a guess. Historically, July is one of the best-performing months of the year for the stock market. According to Dow Jones Market Data, since 1928, the S&P 500 has posted an average gain of 1.7% in July, finishing in positive territory 60% of the time. With low or zero commissions these days, we think it would still be much safer to spread out selling over the year. In addition to not having to 'time' the market, this will allow more capital to earn more dividends and provide a little bit of extra compounding for an investor.
5i Research Answer: