Set forth below is the text of an e-mail that I sent to New York Times Columnist David Leonhardt on January 20, 2010.
My name is Rob Bennett. I write the “A Rich Life” blog (http://arichlife.passionsaving.com).
I enjoyed your column “Centrist and Not Yet Unified. I believe that the political atmosphere is being poisoned by the economic crisis. I also believe that the PRIMARY cause of the economic crisis is the relentless promotion of Buy-and-Hold Investing by The Stock-Selling Industry for 30 years after the academic research showed that the odds of it working for the long-term investor are precisely zero. This is a POLITICAL issue.
The Stock-Selling Industry is not going to engage in honest discussion of the flaws of the Buy-and-Hold Model unless political pressure is imposed from concerned parties who do not make their money encouraging people to invest heavily in stocks regardless of the price being charged for them.
Here is a link to a Google Knol that I wrote entitled “Why Buy-and-Hold Investing Never Works”:
Google Knol on Why Buy-and-Hold Investing Never Works
Please let me know if you would like to know more or if you have questions.
Thanks again for the fine work you do helping people learn about economic issues with your column.