Buy-And-Hold Investing Vs. Market Timing  By Michael Schmidt |
October 14, 2008 AAA  If you were to ask 10 people what long-
term investing meant to them, you might get 10 different
answers. Some may say 10 to 20 years, while others may consider
five years to be a long-term investment. Individuals might have
a shorter concept of long term, while institutions may perceive
long term to mean a time far out in the future. This variation
in interpretations can lead to variable investment styles.  For
investors in the stock market, it is a general rule to assume
that long-term assets should not be needed in the three- to
five-year range. This provides a cushion of time to allow for
markets to carry through their normal cycles. However, what's
even more important than how you define long term is how you
design the strategy you use to make long-term investments. This
means deciding between passive and active management.  Long-Term
Strategies Investors have different styles of investing, but
they can basically be divid