The "Buy and hold ETF" strategy of today is good advice until it isn't. Eventually, ETF holders will probably be exposed to a black swan like the NIKKEI 225 los

The "Buy and hold ETF" strategy of today is good advice until it isn't. Eventually, ETF holders will probably be exposed to a black swan like the NIKKEI 225 lost decade event (although it should probably be called the lost decades) [0]. My opinion is that buying and holding the index is better than picking stocks and timing the market unless you are a professional (you need to be doing it full time to gain a consistent edge, and even then it isn't guaranteed). However, even then, it is only good advice if equities is a small part of your overall portfolio. Blindly buying and holding the index is not smart if your net worth is 80% tied in equities -- you should diversify in bonds, real estate, precious metals, and other commodities. [0] https://en.wikipedia.org/wiki/Japanese_asset_price_bubble https://en.wikipedia.org/wiki/Japanese_asset_price_bubble