Simple buy-and-hold strategies typically work well during persistent uptrends — like the one we’ve had since 2009.

I worry about investors who confuse their recent success for skill. In environments where stocks climb steadily with few reversals, buying and holding represents the best strategy but what happens when the next reversal hits — and is more severe and persists for many months or years?

Investing strategies that do not adapt to changes in trend underperform in the long run. Sure, they can have streaks of positive outperformance in the short term but it never lasts.

To protect your capital from changes in trend, you may consider implementing some more adaptive strategies like Trend Following. Let me know if you have questions or would like some help with doing so.