Mr. Boater

'Buy and Hold' Is Alive and Well

Your subject is foolish and naive.

"Buy and hold" was never heard of until the late 70's when the Wall Street Sharks got with the large corporations and discussed a new way to gain control of pension money in order to churjn and burn and otherwise bilk the unsuspecting little guy who had not the slightest idea how to manage his pension money.

Using the Ibbotsen and Sinquefeld study of the late 70's that found the"long term" return of the market to be close to 10%.

Armed with this piece of biased information--nobody was told at the time most of the returns were based on dividends--the corporations saw a way to get out of managing defined benefit plans,

Wall Street licked its lips, and they went and lobbied a bunch of stupid congressmen-[are there any other kind?] to pass laws defining IRA's and 401k's, sending innocent workers futures to the blood suckers. "Retire a millionaire" that was a big one I heard on a Wall Street firm's TV ad. Remember that one?

Thus "Buy and Hold" was born. If one buys and holds, how does one buy low and sell high? Money is made in the mid-term--and don't you all forget it. The wisdom of the old codgers is called Wisdom for one reason --IT WORKS--MOVE TO THE SIDELINES------