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I picked one extremely relevant main point out of this.
Patrick Dorsey: Buy and hold isn't buy and forget about it and never look at it again. It's buy it and keep an eye on it.

It is a point that the naysayers always ignore and I notice that one of the other panel members tried to do just that.
He also tried to link the argument to the performance of the S&P over the last 3 years. Well someone should tell him that LTBH and indexing are NOT the same.

I'll post a snippet from Kiplinger's to go with my comments.
Funds That Invest Like Warren Buffet

By Joan Goldwasser

Suppose you were prescient (or lucky) enough -- not to mention old enough -- to invest in Warren Buffet's holding company, Berkshire Hathaway, in 1964. Your stake would have risen 22.6% on an annual basis, more than double the gain for Standard & Poor's 500-stock index. Put another way, a $10,000 investment in 1964 would be worth $15.3 million today.

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