I’ve posted Entry #355 to my weekly Valuation-Informed Indexing column at the Value Walk site. It’s called Buy-and-Hold Has Not Been a “Good Enough” Strategy Over the Years.
Juicy Excerpt: Say that we were trying to determine whether it is a good idea to smoke. Those seeking to make a case for smoking could point to millions of people who smoked and lived long, fruitful, exciting lives. That’s not an endorsement of smoking. It’s a showing that many people are so full of love that they can make successes of their lives even while their smoking habit holds them back a bit. Smoking is bad and Buy-and-Hold is bad. But there are of course successful smokers and successful Buy-and-Holders.