The Buy and Hold fallacy.

So called "Buy and hold" investor advocates', try (often in disguise), to support the notion not to be an active investor around individually selected securities -and then to micro manage these through selective profit taking and re-balancing over time.  Many for various reasons want you to believe to just "buy and hold" the portfolio, even while the world is changing faster than ever before.  Managing a portfolio of securities is a form of art and one which can be learned and when done with some discipline and skill can lead to substantial greater returns over time.  Especially if one appreciates some distinct advantages individual investors have over mega institutions with their share liquidity constraints.