Re: More is better .... ???
That seems pretty intuitive.
In an up year, more frequent withdrawals would remove the upside potential benefit, while in the down year the same would remove downside potential loss.
The potential benefit would be the percentage up/down as a function of when the money was withdrawn vs another withdrawal strategy.
In other words, calculable only as a historic function and of limited use for any forward calculations. There are some mass stats that work most of the time, for example certain times of the year being better/worse for the market, the third and fourth years of a presidents term having higher returns than the first two years, etc. You could conceivably time your withdrawal times to coincide with "generally beneficial times". Unfortunately there are many instances where the reality doesnt match with the "usual behavior".
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.