We have seen that market timing has tremendous potential value. Would it therefore be wise to shift resources to timing at the expense of security selection?

NO it won't be wise to do that

Explanation:

It is best to shift resources timing due to macro economic market factors because these factors affect market timing greatly and these factors help to determine the future market prices movements.

Market timing is a trading strategy used in the trading/purchase of financial assets like stocks and foreign currencies in the financial market in the bid of making profits from the purchase. it also also unwise to shift resources to market timing at the expense of security selection no matter how good the market timing is.

answercompetitive advantage;