I’ve posted Entry #92 to my weekly Beyond Buy-and-Hold column at the Out of Your Rut site. It’s titled Buy-and-Hold Costs You Money Even in the Distant Long-Term.
Juicy Excerpt: The Buy-and-Holders cannot do what they promise they are going to do. It’s easy to say you are going to stick with a Buy-and-Hold strategy during the Get Rich Quick years. It is not realistic to expect that you really will stick with it when the phony gains disappear from your portfolio statement. The full reality here is that it is the sales of the Buy-and-Holders that bring the stock price to one-half fair value in the first place. If Buy-and-Holders never sold, stocks prices would never return to fair-value levels, which is of course a logical impossibility.