Continuous uptrending stock market is phenomenon of history. Now stock markets are highly volatile as its movement depends on so many complex factors. Globalization is adding new dimension to the volatility. One can not rely on buy and hold policy anymore. If you stick to the same old philosophy of buy and hold, volatility and inflation will eat away your returns. A cursory look on your buy and hold portfolio since 2008 will validate above statement. It should not surprise you at all if your portfolio is in red colour.