Lewis & Associates Capital Advisors, LLC is an Investment Advisory Firm that focuses on an investment approach that centers around both a strategic and tactical style of investment management. By and large, we do not support a 'buy and hold' strategy. In our opinion, a 'buy and hold' approach does nothing more than pay the consultant for not doing much at all. Not to mention, in most cases, a 'buy and hold' almost guarantees that there will always be a portion of the portfolio not working. Financial planning is important and seems to be taking 'center stage' these days as the panacea. However, how effective is the overall financial plan if the equities contained therein loses significant value? That is why we take both a tactical and strategic investment approach in both private accounts and in our 401k retirement accounts while utilizing a CASH position (or cash sweep position) when and if necessary. We feel that consistently managing one's equities is key to portfolio management. It is unfortunate however, that managing equities is very rarely discussed in the financial planning dialogue. We must truly come to the realization that the stock market of today is not the same stock market our father and grandfather enjoyed. Today, we are dealing with an ever shrinking dollar, manipulating of currencies, terror threats and most recently a reduction in the price of crude oil. All these issues have added to the uncertainty of the markets here and abroad. However, what we do have today to invest with our fathers and grandfathers did not. For example: Exchanged Traded Funds are in mass...exceeding 1,600. Probably too many at this place and time but nonetheless, valuable equities to be applied to a portfolio to gain exposure in areas at a micro level. Pretty neat!