2. What is market timing? Turn to textbook page 608 Problem #10 and you will see four diagrams (A, B, C, D). Which diagrams show the good ability of market timing? Explain why. Which diagrams show the good ability of security selection? Explain why.

10. Evaluate the market timing and security selection abilities of four managers whose performances are plotted in the accompanying diagrams. (1 LO 18-5) 10. Evaluate the market timing and security selection abilities of four managers whose performances are plotted in the accompanying diagrams. (1 LO 18-5)