I’ve posted Entry #302 to my weekly Valuation-Informed Indexing column at the Value Walk site. It’s called It Can Take 20 Years for Sound Long-Term Investing Strategies to Pay Off.
Juicy Excerpt: In short, the Buy-and-Hold investor has a small chance of being ahead by a small amount at the end of 30 years while also having a large chance of being behind by a large amount at the end of 30 years. I think it is fair to say that on a risk-adjusted basis, practicing price discipline when buying stocks is always the superior choice.
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