I remember back at the beginning of 2009 – starting around February and ending around June 2009 – the media started to publish pieces that raised the question of whether buy and hold investing was dead. I remember thinking at the time “well, I guess now is the time to just buy and hold then.” Turns out the call couldn’t have been much more accurate or timely.
This morning, on the train, I thought I’d take a look back at the timing of those article. My favorite was this article from CBS News titled “An End to Buy-and-Hold Stock Investing?” Notice the date? March 3rd, 2009. That is within two days of the absolute bottom of the market in the last year – let’s take a look:
The message here is pretty clear – generally it pays to adopt a George Costanza approach to articles in the media: do the opposite of whatever they say.
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