re: Investing for the long term

If you had a diversified portfolio including total US equity market, international, emerging markets, small/mid value, intermediate T's and TIPS, total bond market, IG corps---you would have done very well reinvesting dividends and adding new money. Very rarely do investors invest all the money they will ever invest in the market on one certain date.

The Ben Graham 25/75 guideline would have served you well. Ie, be at the low end when the market is high or irrationally priced and add more risk when the market is at historically favorable levels. I mean, shite, people can do this in their 401ks at will, it is not difficult. You have to use some foresight, have a plan and stick to it.