The headline is sensationalistic and the article offers no details as to how the days of buy-and-hold are over. Therefore, to me, it's just another piece of Yahoo fluff that shouldn't be worth your time reading.
To elaborate, Maulding "admits the average investor doesn't "have as many good choices" as in the past." I agree. The current market condition isn't exactly the most friendly it's ever been to anyone, including institutional money.
However, I disagree with the conclusion that, therefore, average investors should abandon buying and holding. First and foremost, doing so would mean abandoning a good, working, scripted passive strategy on growing your money long term. In the video, Maulding himself has said that he is supremely optimistic of the long term prospects of the stock market. If so, and if you are buying-and-holding long term... then you should do quite well if he is right.
So, what he is implying more of is the fact that the short term market risks a double dip recession. That's possible, but that's something that applies more to traders, not average investors.
Also, we've already discussed how active fund managers do not always out-perform the market as expected, especially in a bear market.
In my trading account, I've already pared back my holdings, and the rest are highly defensive. However, for my passive investments, Mr. Maulding's thoughts are appreciated, but has offered absolutely nothing to change my mind about the strategy of buying-and-holding.
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