I recently started a discussion-board thread at the Early Retirement Extreme site titled Is Buy-and-Hold Just a Marketing Pitch?
Juicy Excerpt #1: I think this may be the warmest reception I have heard to my criticism of Buy-and-Hold at any place on the internet. Usually, I duck immediately after pushing the “Send” button to avoid the bricks being thrown at me. Here, I almost feel that in fairness I should jump in and defend the Buy-and-Hold position!
Juicy Excerpt #2: I don’t think “Buy and Hold” index investing is a marketing ploy. I think the authors who “push” the philosophy genuinely think it’s a good idea and base their opinion on “long term” data.
Juicy Excerpt #3: I’m no EMT fan. But which specific 1981 research are you referring to?
Juicy Excerpt #4: Anyone can make a mistake, Maurius. One of my biggest fears in writing about personal finance is that someday I might make a mistake that would cause someone to suffer a serious financial setback. Do you know how I deal with that concern? I acknowledge that I do not know it all. I invite people with different viewpoints to post at my site, to challenge my claims. I correct errors as soon as they are brought to my attention. That’s what John and all other Buy-and-Holders should be doing.
Juicy Excerpt #5: I ask you (and please take this in the most innocent manner possible): what do you have to gain if you help “the people”? Are we talking friendly help here, or is it professional help (fee-based financial advice or something) Just want to understand where you’re coming from before I think about engaging you on any of the specific points you’ve made.