Is Buy and Hold "Buy & Hold"?

Given the likelihood of a return of significant market volatility, periods of downward pressure will continue to be associated with price overshoots and undue contagion. For investors willing to stomach lots of mark-to-market risk, these gyrations will offer an opportunity to gain exposures at attractive prices to names possessing solid economic and financial fundamentals. And during the periods of upward retracement, these same investors will have the opportunity to accumulate cash, while continuing to upgrade the quality of their holdings.Anchored by the notion of “buy and hold,” many long-term investors will naturally resist adding a tactical component to their investment approach. But failing to do so could also cause them to risk losing sight of a larger reality that volatile markets are now signaling increasingly consistently.

- from Market Calm May Be Short-Lived - Mohamed A. El-Erian

Buy and Hold is not really "Buy & Hold".

Here's a more local example.

Dr Michael Leong

bigfatpurse review of dr michael leong's book.
Dr Michael Leong has recently passed away. I agree with most points in bfp's review of his book.

Wish to add that not all criteria/metrics of his philosophy can be met by the market at all points during a person's life. Time horizon is very crucial in this aspect because: are you only going to start at age 55 when everything happens to fulfill your criteria at that point in time?

Dr Michael Leong fought cancer.

Dr Leong's reply: "As shared in my article, I have been very careful with my diet and yet, I got the cancer. Hence, I doubt diet has anything to do with it. At this stage, I want to build up my body and frankly, will eat anything that I want. I know of lots of cancer patients who will swear by their new diets and I wish them well. At the end of the day, it is what you believe that is more important to you than to anyone else. 

"All of us have cancer cells in our body. In some, these develop into full blown cancer, in others, they just lurk in the background. No one knows why. Somethings we cannot explain and best not to think too hard about it and just live life as is."

R.I.P. Dr Michael Leong. Read his post on "When you have enough money..."

Money is very important when you start off in life. You need money to be comfortable in life. However, when you have enough money, you should thank your lucky stars as much of business is about luck. Also, after a while, any more money really does not make much of a difference. In fact, more money then can actually create more work, more stress and more unhappiness. Life is being contented with what you have and yearning for more may be asking for trouble.