Below is a letter to the editor of Money magazine regarding an article in their March 2012 issue.
I disagree with Andrew Lo's theory that buy and hold doesn't work anymore [Game Changers, March 2012]. In fact, from the article it sounded like he doesn't even agree with himself! From what I read, the person that doesn't buy and hold may actually end up doing worse because they sell at the wrong time. His advice is to buy a variety of mutual funds. This still sounds like the old buy and hold with diversification strategy that has worked so well for so many years.
