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Buy-and-hold investing is trickier than it looks. The increasing pace of technological change means even the most successful, dominant companies have to continually adapt to keep up. Industries like...
Department-store stocks have lost one-fifth of their value in the past five years, while the overall stock market has nearly doubled.
This bull market brings me back to the dot-com bubble in 2000, when stocks flaunted such outrageously high price-to-earnings ratios that you could get a nosebleed just by buying a tech stock.
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