>>I wonder how he figures he's better off with Buy and Holding as the stock tumbles from $50 to $1?<<
That online book was written long before our current bear, back when it was still fashionable to tell people to simply buy and hold. That's one reason I like to refer to that chapter, it describes the problems many people are running into now, and it was written before the bear happened.
Though even despite the current bear, I still agree with the book--for the typical person not willing to put in the time and effort, buy and mold is still a good thing to do. It will take some time, but even this bear will be in the past someday.
