What The Buy-And-Hold Orthodoxy Doesn’t Want You To Know
Jesse Felder | Jul 20, 2018 02:02AM ET
Buy-and-hold, and all of its related strategies like recency bias and prone to extrapolation .
What is surprising, however, is that, despite that fact that it’s long-term (20-year) performance still crushes that of the broad stock market, gold has become so maligned among investors of all stripes, including gold bugs themselves. Yes, the past few years have favored equities over precious metals and I guess that’s where the recency bias kicks in again. But the truth is it has paid far better to be gold bug over the past two decades than to be an equity bull.
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