In this article John Mauldin urges investors to calculate the 'true cost of a buy-and-hold strategy, and the hidden cost of using low-fee funds'. He writes that most studies used by investment advisers to justify this strategy use long time frames (40 or 50 years), which, he argues, is a time frame that most investors do not have. He also reminds readers that bear cycles can last for 20 years before recovering. While returns may be good in bull market, he writes, in a bear market, you are simply diversifying your losses. To read more, click here.