No. of Recommendations: 31
And yes, people who buy and hold - particularly buy and hold index funds - are absolute idiots. The facts bear that out.

I retired two weeks prior to my 49th birthday. I still do a little part-time consulting out of my home in the mountains, but less that a 25% schedule. DW also retired. We have a beautiful home in a wonderful mountain village, paid in full. We have no debt at all, and we have far more money than we need to live in comfort forever, regardless of how long we live, plus our son will be a millionaire when we die. We did this by putting all our spare money in Vanguard mutual funds, including the SP500. We don't jump from fund to fund, but buy and hold. Are we idiots? I don't know, but I do know that we're living a wonderful life courtesy of hard work and conservative investments in Vanguard, and by not listening to folks who say they know how to market time and invest in individual stocks.
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