The Long Term Investing Fallacy
To be sure, some will dismiss the idea of defining and proactively measuring investment risk. They will praise the merits of long-term investing. They will insist that the buy-and-hold approach makes extraordinary sense. Invariably, they will raise Warren Buffett’s name, and cite one of his many investing homilies. Of course, it is hard to argue with the world’s most successful investor, but there is one point that is beyond debate.