Buy and Hold - good strategy - esp with benefit of hindsight

We all can see that buying in the distant past - be it stocks, property or gold - was a good strategy that paid off in spades. It may well still be the best strategy for future investments - especially given how difficult market timing can be, for the amateur investor but also for the professionals.
But blindly buying and holding per se is not a strategy, I would rather tend to call it a guideline around which the really difficult investment choices have to be made.
The not-so-secret way millionaire investors get way richer (Yahoo)