The stock market rewards the Buy and Hold investment strategy during a Secular Bull Market as every cyclical bear market is followed by higher highs. The S&P 500 has repeatedly made a new all time high since the low in March 2009, despite a number of meaningful setbacks. Investors have learned that lesson well. Since the March 2009 low, investors have shifted more than $2 trillion to into Passive funds that offer low cost exposure to the S&P 500 and other indexes.
In 2011 Active mutual funds represented 20% of stock market capitalization compared to just 8% for Passive...
