Despite the growing argument that buy-and-hold investing and diversification no longer make sense, Burton Malkiel, Princeton economics professor and author of “A Random Walk Down Wall Street,” writes in a Wall Street Journal op-ed Thursday that is absolutely not true.

Because no one can time the market consistently, the best thing for investors to do is to buy and hold, Malkiel says. “The timeless investment maxims of the past remain valid. Indeed, their benefits may be even greater today than ever before,” he says.

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