I’ve posted Entry #21 to my weekly Valuation-Informed Indexing column at the Value Walk site. It’s called We’ve Been Driving in the Wrong Direction for 30 Years.
Juicy Excerpt: If the market is efficient, Buy-and-Hold is the best investing approach ever developed by the human mind. I have no problem saying that. It really is an objective approach. So, if the Buy-and-Holders got the fundamental question right, I think it makes sense to go with what they say about asset allocation and retirement planning and risk management and all other sorts of topics.