Wall Street has a way of making something simple seem extremely complex. Like the Wizard of Oz, Wall Street has done terrific job complicating, confusing, and intimidating, so that people with average intelligence feel rather stupid. Many times Wall Street does one thing and tells investors to do exact opposite especially when it comes to investing their nest eggs in mutual funds. A mutual fund’s marketing department preaches buying shares and holding them for decades, yet the portfolio managers of those very same funds hold them in the portfolio only an average of nine monts.
(Getting Started in Value Investing, Charles S Mizrahi)