Buy and Hold Worked -- It Just Took A While

The most time-tested strategies for investing have returned from the dead. What now?

Staying invested in stocks through the catastrophic bear market took superhuman nerves, but buy-and-hold investing has just about been vindicated. Ditto for the practice of picking stocks one at a time through fundamental analysis rather than relying on big-picture analysis.

After Standard & Poor’s 500-stock index plunged 55% from October 9, 2007, through March 9, 2009, countless experts declared the death of buy-and-hold investing. Many of the stock funds that Kiplinger’s Personal Finance had recommended for years -- those whose managers bought good stocks and pretty much ignored broad economic trends -- lost even more than the index.

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Steven Goldberg
Contributing Columnist,
Steve has been writing for Kiplinger's for more than 25 years. As an associate editor and then senior associate editor, he covered mutual funds for Kiplinger's Personal Finance magazine from 1994-2006. He also authored a book, But Which Mutual Funds? In 2006 he joined with Jerry Tweddell, one of his best sources on investing, to form Tweddell Goldberg Investment Management to manage money for individual investors. Steve continues to write a regular column for and enjoys hearing investing questions from readers. You can contact Steve at 301.650.6567 or