So, how's that buy-and-hold strategy working? Let's say you bought the NASDAQ when it stood at 5048.62, almost exactly ten years ago. Well, today it's at 2,340.68, down 54% -- or, inflation-adjusted, down an even worse 63%. So how long is the buy-and-hold strategy going to take to get back to even? Well, if you can earn a higher-than-average 6% per-year after inflation, it will take you around 17 years. That's 27 years under water.