This book, Jackass Investing, arrived in the mail yesterday and despite the odd title, it is a really good book.
(Note: In an even more interesting aside, the book was simultaneously published under the title Exploiting the Myths….I would probably have done some testing ala Ferris and goog ads for the title and or cover)
He also outlines some of the problems with buy and hold (such as 100% loss of wealth due to hyperinflation in Wiemar Germany and Zimbabwe (also gov private property confiscation)). Also included is a great analysis of the importance of baseline conditions (ie the US in 1900 vs. 2000). One of the biggest risks in investing in anything is the catestrophic risk of losing all of one’s capital. (Take a look at the situation with Full Tilt.)
Worth a read!