Stockbrokers and investment advisors sometimes employ the “missing the best days in the market” ruse to convince investors to stay in the market, even when economic and market indicators suggest a more defensive strategy.  In some cases, advice is simply to preserve annual 12b-1 fee payment to stockbrokers and advisers.

An excellent article in the “Seeking Alpha” blog points out both sides of the story and factors investors should consider.  The referenced Journal of Financial Planning article by Paul J. Gire makes an excellent point, namely that using such presentations without presenting both sides of the story could result in ethical violations for CFP® professionals and other fiduciaries. 

http://seekingalpha.com/article/648391-don-t-let-best-market-days-mantra-derail-your-tactical-investing