Buy & hold is dead as far as I'm concerned, I'm doing just fine since the beginning of this crisis but it's heartbreaking the watch the 401Ks of family and friends go down the crapper.
401(K) is a scam. So is the belief that stocks only go up. Over the course of the 20th century they did go up. But 20th century was special. I believe we are going to experience stock market stagnation for a good portion of this century.
I find it hard to believe that if you look at the numbers, the returns over the last 10 years or so are in the low single digits 2-3 %. Pathetic.