That's because the average investor has not learned that buy and hold does not mean buy and ignore.  You have to do your homework and pay attention to market on a macroeconomic level. It doesn't make any difference if you do well when the market is up, everyone is doing well then, what matters is how little you lose when the market goes down, that requires due diligence on the part of the investor. Never trust someone else to invest your money, as I said do your homework, make your mistakes, learn from them and take the long view, there is a difference between making alot of money and accumulating wealth. Few can do the former, anyone willing to do the work and practice deffered gratification can accomplish the latter to some degree, regardless of their station in life. Pay no attention to the politicians, they are in it for the short view only.