Almost guaranteed to underperform over time. Some of best days come immediately after the worst days - which the guy would likely miss if he got out to avoid a drawdown.
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Yes, no free lunch with strategies like these. When I was running advisor best advice panels, I'd get plenty of new strategies pitched that I'd turn down. They always sounded great, but all of them did considerably worse over a full market cycle than just holding the plain assets. Half really crashed and burned.