I’ve posted Entry #71 to my weekly Investing: The New Rules column at the Death by 1,000 Papercuts site. It’s called I’m Extreme! That’s Good!
Juicy Excerpt: None of the studies have been corrected. Why? Because everyone in the field understands that the day we all openly acknowledge that Buy-and-Hold caused millions of failed retirements is the day Buy-and-Hold dies. And, like Spokane Al, many see that as an “extreme” event.
It is an extreme event. Buy-and-Hold has been the dominant model for close to 40 years.
But it is not an extremely bad event. It is an extremely good event.