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By Rabbi Aaron Benson

Rabbi Aaron Benson

There would be no miracle of Hanukkah, the eight-day festival which begins this Thursday evening, without there first being darkness.   

Hanukkah is meant to be a time of joy. It is not a major holiday, still it is a time to play games, give gifts and enjoy foods fried in oil, reminiscent of the miracle at the heart of the holiday.  

In ancient times, the Holy Temple in Jerusalem had been defiled and when the Jews took it back from their oppressors, they found only enough oil to light the sanctuary’s special candelabra, the menorah, for one day.  Since the menorah must always be lit, the Jews did so, and miraculously, the oil burned for eight days during which time more oil was procured. 

But even more important than the oil, the miracle couldn’t have happened if there hadn’t been darkness at first.  

This year, Hanukkah occurs in a time of hatred and war for Israel and the Jewish People. It is a time of suffering for the innocent people of Gaza. It is a time in which Islamophobia has caused violent and deadly attacks on American Muslims; college students in Vermont and a little boy from the same part of Illinois where I grew up. Not to mention all that divides Americans from each other, too. 

This is a Hanukkah of much darkness. 

But it is only out of darkness that light, that miracles can come. 

I am reminded of the final scene from the first season of the HBO series, True Detectives. The two protagonists are discussing the fight against evil, the war between darkness and light. One of the two argues that looking in the night sky, there is far more darkness than the tiny points of light we see, “it appears to me that the dark has a lot more territory.” The other objects, saying, “You’re looking at it wrong, the sky thing … once there was only dark. You ask me, the light’s winning.”

If good people, Jews and non-Jews, can resist the vast darkness that surrounds us and bravely light one little light, we, all of us, will create a miracle. May such a miracle, one that brings understanding and peace, be kindled for us all soon. 

The author is the rabbi of  North Shore Jewish Center in Port Jefferson Station.

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The Vanderbilt Mansion library is decked out for the holidays.

Each December, the Suffolk County Vanderbilt Museum, 180 Little Neck Road, Centerport gives special evening tours of the decorated Mansion. This year, the Vanderbilt proudly introduces Sounds of the Seasons, a captivating new holiday program, planned for Saturday, December 9 and 16, from 5 to 9 p.m.

Transport yourself to the heyday of Eagle’s Nest, a time when radio was the heartbeat of everyday life.

Explore the festively adorned mansion and be serenaded by timeless Bing Crosby melodies, relive President Franklin D. Roosevelt’s Christmas Eve commemorations, and be captivated by special holiday episodes of Suspense Radio.

This holiday celebration masterfully captures the essence of the Golden Age of Radio, blending festive cheer with nostalgic charm.

The Vanderbilt Mansion’s halls were decked by the Museum’s curators in collaboration with the Dix Hills, Centerport, Three Village, Asharoken, and Nathan Hale garden clubs.

Tickets, which are $15 per person, can be purchased on the Vanderbilt website, www.vanderbiltmuseum.org, for specific 30-minute tour times.

 

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Children visited with Santa Claus at the WMHO's 44th annual Holiday Festival. Photo by Rita J.Egan
Children visited with Santa Claus at the WMHO's 44th annual Holiday Festival. Photo by Rita J.Egan
Children visited with Santa Claus at the WMHO's 44th annual Holiday Festival. Photo by Rita J.Egan
Children visited with Santa Claus at the WMHO's 44th annual Holiday Festival. Photo by Rita J.Egan
Children visited with Santa Claus at the WMHO's 44th annual Holiday Festival. Photo by Rita J.Egan
Children visited with Santa Claus at the WMHO's 44th annual Holiday Festival. Photo by Rita J.Egan
Children visited with Santa Claus at the WMHO's 44th annual Holiday Festival. Photo by Rita J.Egan
The Grinch stopped by to visit Santa at the WMHO's44th annual Holiday Festival. Photo courtesy of WMHO
Children visited with Santa Claus at the WMHO's 44th annual Holiday Festival. Photo by Rita J.Egan
Children visited with Santa Claus at the WMHO's 44th annual Holiday Festival. Photo by Rita J.Egan
Children visited with Santa Claus at the WMHO's 44th annual Holiday Festival. Photo by Rita J.Egan
Santa visited The Long Island Music and Entertainment Hall of Fame in Stony Brook Village after the 44th annual Holiday Festival. Photo by Rita J. Egan
The WMHO's 44th annual Holiday Festival culminated with a tree lighting on the Village Green. Photo from WMHO

By Rita J. Egan

Wet weather couldn’t stop Santa Claus from visiting Stony Brook Village Center as promised Dec. 3.

Santa’s appearance was part of the 44th annual Ward Melville Heritage Organization Holiday Festival. In addition to photos with the jolly elf, attendees spent the afternoon visiting with animals at the petting zoo and viewing the promenade of trees decked out for the holidays and the train display at W.L. Wiggs Opticians. Carolers also performed throughout the shopping center.

“Despite the weather, hundreds of people came out to see Santa arrive in Stony Brook on the antique fire engine for the 44th time,” said Gloria Rocchio, WMHO president. “What was added this year was a Grinch character to complement Santa, which the children loved. People noted the tree looked fuller than usual and was decorated beautifully. Hundreds tuned into the tree lighting in person and also remotely on our website.”

WMHO trustees and elected officials were on hand for the center’s tree lighting later in the day, followed by a private reception at the Long Island Music & Entertainment Hall of Fame. Santa showed up once again, telling guests he was surprised that not one child asked for a Barbie doll. He added the popular gift request this year was a Taylor Swift-branded acoustic guitar.

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Sufganiyot

By Heidi Sutton

The humble donut is a treat beloved all over the world, but it takes on special significance when you make sufganiyot for Hanukkah. These deep-fried delicacies have become popular in Israel as a way to symbolize the miracle of the oil lamps that burned one day’s supply of oil for eight days in the ancient Holy Temple in Jerusalem. 

Sufganiyot are traditionally filled with jelly or jam, but can also be filled with custard, Nutella, pudding, pumpkin butter, apple butter, or dulce de leche and are are also delicious plain. 

Enjoy this recipe for Sufganiyot, courtesy of Martha Stewart, for your next Hanukkah celebration.

Sufganiyot

YIELD: Makes 20 donuts

INGREDIENTS:

2 teaspoons active dry yeast (one packet)

1⁄2 cup warm water (100 to 110 F)

1⁄4 cup plus 1 teaspoon sugar, plus more for rolling

2 1⁄2 cups all-purpose flour, plus more for dusting

2 large eggs

2 tablespoons unsalted butter, at room temperature

1⁄4 teaspoon freshly grated nutmeg

2 teaspoons salt

3 cups vegetable oil, plus more for bowl

1 cup seedless raspberry jam

DIRECTIONS:

In a small bowl, combine yeast, warm water, and 1 teaspoon sugar. Set aside until foamy, about 10 minutes.

Place flour in a large bowl. Make a well in the center; add eggs, yeast mixture, 1⁄4 cup sugar, butter, nutmeg, and salt. Using a wooden spoon, stir until a sticky dough forms. On a well-floured work surface, knead until dough is smooth, soft, and bounces back when poked with a finger, about 8 minutes (add more flour, if necessary). Place in an oiled bowl; cover with plastic wrap. Set in a warm place to rise until doubled, 1 to 11⁄2 hours.

On a lightly floured work surface, roll dough to 1⁄4-inch thickness. Using a 21⁄2-inch-round cutter or drinking glass, cut 20 rounds. Cover with plastic wrap; let rise 15 minutes.

In a medium saucepan over medium heat, heat oil until a deep-frying thermometer registers 350 F. Using a slotted spoon, carefully slip 4 rounds into oil. Fry until golden, about 40 seconds. Turn donuts over; fry until golden on other side, another 40 seconds. Using a slotted spoon, transfer to a paper-towel-lined baking sheet. Roll in sugar while warm. Fry all dough, and roll in sugar.

Fill a pastry bag fitted with a #4 tip with jam. Using a wooden skewer or toothpick, make a hole in the side of each doughnut. Fit the pastry tip into a hole, pipe about 2 teaspoons jam into doughnut. Repeat with remaining donuts.

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Participants from last year's concert. Photo from Daniel Kerr/All Souls Church

Historic All Souls Church, 61 Main Street, Stony Brook invites the community to celebrate the true meaning of Christmas as it joins with eleven other faith communities to present its annual Lessons and Carols Christmas concert on Saturday, December 9 at 6 p.m.  

Heidi Schneider will be the featured soloist this year.

The free concert will feature Stony Brook University soprano Heidi Schneider and tell the story of the Nativity in scripture and song.  Heidi’s solos will include “Ave Maria,” “Silent Night,” and “Away in the Manger.” 

Local guitarist Bill Clark and his Brave Trio will also perform “O Come, O Come, Emmanuel,” “Hallelujah,” and “What Child Is This?”All attending will be invited to sing “Come All Ye Faithful” and “Hark the Herald Angels” as All Souls organist Dan Kinney plays the church’s 1855 Tracker Organ.

The readings will be done by clergy and lay people from The Stony Brook School, Caroline Church, Greek Orthodox Church of the Assumption, Messiah Lutheran Church, St. Gerard Majella RC Church, Stony Brook Community Church, the Three Village Church, Religious Society of Friends in St. James, the Little Church of Smithtown Landing, St. James RC Church, and the Unitarian Universalist Fellowship at Stony Brook.

There will be a 15-minute intermission and refreshments will be served. All Souls Church collects food each week to feed the hungry at the St Gerard Majella’s food pantry. Please bring a can of food to donate (“Lend a hand, bring a can”). 

Please call 631-655-7798 for more information.

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Children hold up menorahs they made at a Menorah Lighting event in a previous year. File photo by Seth Berman

By Heidi Sutton

Hanukkah begins at sundown on Thursday, December 7 and ends on the evening of Friday, December 15 this year. Here are some menorah lighting ceremonies, parades and celebrations in our neck of the woods.

Commack/Dix Hills

— Chabad of Mid-Suffolk, 318 Veterans Hwy., Commack presents a Grand Menorah Parade to The Chai Center, 501 Vanderbilt Parkway, Dix Hills on Dec. 10 at 6 p.m. The grand menorah lighting and Chanukah Party will follow at The Chai Center with doughnuts and latkes. RSVP at ChabadMidSuffolk.com/parade

— Join the Suffolk Y JCCC, 74 Hauppauge Road, Commack for a Menorah Lighting and Shine a Light on Anti-Semitism event on Dec. 13 at 7 p.m. 631-462-9800

East Setauket

Village Chabad, 360 Nicolls Road, East Setauket will host a Chanukah Car Parade and Grand Menorah Lighting with a Chocolate Gelt Drop on Dec. 10 starting at 4 p.m. with latkes, donuts, music, Johnny Peers & The Muttville Comix dog show and more. $10 per person in advance at MyVillageChabad.com/LightOverDark, $15 at the door. 631-585-0521

Farmingville

Join the Town of Brookhaven for a Menorah Lighting at Town Hall, One Independence Hill, Farmingville on Dec. 7 at 6 p.m. followed by entertainment, hot latkes and donuts. 631-451-6100

Greenlawn

The Greenlawn Civic Association will host a Menorah Lighting Ceremony and Hanukkah celebration at Harborfields Public Library, 31 Broadway, Greenlawn on Dec. 11 at 6 p.m. www.greenlawncivic.org

Huntington 

Chabad of Huntington Village will host a Grand Menorah Lighting at the Huntington Village Winter Wonderland at Main Street and Wall Street on Thursday, Dec. 7 at 4:30 p.m. 

Kings Park

The Kings Park Chamber of Commerce hosts a Menorah Lighting/Christmas Tree Lighting Ceremony at Veterans Plaza, 1 Church Street, King Park on Dec. 3 at 4 p.m. Enjoy holiday music selections followed by invocation and welcome remarks from the chamber with hot chocolate and cookies. Held rain or shine. 631-269-7678

Lake Ronkonkoma

Take part in a Menorah Lighting at Raynor Park, 174 Ronkonkoma Ave., Lake Ronkonkoma on Dec. 7 at 7 p.m. Hosted by the Ronkonkoma Chamber of Commerce. 631-963-2796

Port Jefferson Station

The Port Jefferson Station/Terryville Chamber of Commerce will host its annual Menorah Lighting at the Chamber Train Car, corner of Route 112 and Nesconset Highway, Port Jefferson Station on Dec. 7 from 4 to 5 p.m. 631-821-1313.

St. James

The community is invited to the St. James Menorah Lighting Ceremony at The Triangle, Route 25A and Lake Ave., St. James on Dec. 7 at 5 p.m., Dec. 8 at 4 p.m. and Dec. 9 to 14 at 5 p.m. Includes light refreshments. Nonperishable food donations accepted for the local food pantries. 631-584-8510

Smithtown

The Town of Smithtown and Chabad of Mid-Suffolk will hold its annual Menorah Lighting Ceremony at Town Hall, 99 West Main St., Smithtown on Dec. 11 at 5 p.m.. 631-360-7512

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From left, Richard O’Sullivan, Will Logan, and Heather Legnosky in a scene from the show. Photo by Jackie St. Louis/SPAC

By Stephanie Giunta

“What does today’s audience want in Christmas?” was one of the first questions posed at the onset of Smithtown Performing Arts Center’s Every Christmas Story Ever Told (And Then Some!). The cast promised a jocular twist on the beloved holiday classics and a fresh look at timeless tales injected with modern-day pop culture — and they delivered. In fact, I think I heard Santa’s “Ho! Ho! Ho!” in both laughter and solidarity all the way from the North Pole.

The show, a whimsical combination of vaudeville, ad-lib, and traditional narration, was originally written by Michael Carleton, James FitzGerald, and John K. Alvarez, and debuted in 2003 in Cape May, New Jersey. For the past 20 years, the show has been adapted across the country, and kept fresh and new with the poignant inclusion of topical media narratives. Even Travis Kelce and Taylor Swift made the cut!

Will Logan (Will), sets the stage by performing the timeless Charles Dickens’ classic, A Christmas Carol. Heather Legnosky (Heather) and Richard O’Sullivan (Rich) concede, but only because they are desperate to work to qualify for health insurance. Claiming the audience has grown bored of the same seasonal production they put on year after year, they convince Will to add a little spice to the performance —by cramming every Christmas story and holiday tradition into a comical hurricane of a variety show. And with this irreverent mash up, no Christmas carol or reference is safe. Especially your fruitcake. 

Directed by Jordan Hue, the trio takes the audience through a smattering of seasonal favorites, including The Grinch Who Stole Christmas, Rudolph, Frosty the Snowman, A Charlie Brown Christmas, and It’s A Wonderful Life. As someone who is a die-hard Christmas fan and has seen the Rankin Bass classics countless times, the actors used so many references to their comedic advantage. 

Specifically, Will’s portrayal of Hermey the bicuspid-obsessed elf who is a wannabe dentist, and Rich’s rendition of Yukon Cornelius [Rudolph], had me laughing. Not only do they deliver the lines from the show verbatim with some racy humor peppered in, their ability to mimic the original cartoon voice overs is so on point. 

Through the quick rush of all of the myths and memories, there are some surprisingly touching moments. Heather’s delivery of Linus’ monologue from A Charlie Brown Christmas was a beautiful, heartfelt moment among the stop-and-go kitschiness and jollity, allowing the audience to reflect on the true meaning of Christmas. And with a snap of your fingers, the moment passes and the crew moves onto the Gift of the Magi, where Heather morphs into a new-age character straight from the Jersey Shore. 

Will, Heather, and Rich are gifted actors that have the ability to transition from scene to scene with speed and precision, keep the mood light, and the audience enthused. The creative overlap between storylines, especially the back-and-forth between A Christmas Carol and It’s A Wonderful Life lets their talent shine through. Their change in intonation, articulation and ability to play two roles simultaneously was only trumped by the fluidity of their overall performance. And Rich’s deadpan way of casually referring to Charles Dickens as ‘Chuck Dickens’ had me in stitches. 

The show takes a warm, soft feeling of Christmas and pokes fun in an off-the-cuff, non-traditional manner. It’s like a chocolate chip cookie with potato chips inside — sweet, but unexpectedly salty, and ultimately a solid combination. 

Put your sneakers on, and get ready for a high-speed run down memory lane filled with jaunty holiday innuendoes that will leave you laughing and craving peppermint hot chocolate.

Cast & Crew: Will Logan, Heather Legnosky, Richard O’Sullivan, Jordan Hue, Michael Mucciolo, Kelly Mucciolo, Joseph Castoro and Megan DelMonico

Smithtown Performing Arts Center, 2 East Main Street, Smithtown will present Every Christmas Story Ever Told (And Then Some!) through December 23. Recommended for ages 12 and up, tickets are $32 adults, $30 seniors, $28 students. To order, call 631-724-3700 or visit www.smithtownpac.org. 

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Town of Brookhaven will light their holiday tree at the Holtsville Ecology Site on Dec. 1. Photo by Erin Hoeler TBR News Media

By Heidi Sutton

While a few villages and towns lit their holiday trees last week, the majority of tree lightings on the North Shore will take place this weekend and next weekend with caroling, treats and a special visit from Santa Claus. 

Centereach

— The Centereach Civic Association invites the community to its annual holiday tree lighting and inaugural Dickens Festival on the lawn of Capital One Bank, 2100 Middle Country Road, Centereach on Dec. 7 at 7 p.m. Enjoy caroling, hot cocoa, candy canes and a visit from Santa. Rain/snow date is Dec. 10 at 6 p.m. 

— Bethel Hobbs Community Farm, 178 Oxhead Road, Centereach presents Light the Night, a tree lighting and live nativity in memory of Matt Lewis on Dec. 9 from 3:30 to 5 p.m. 631-774-1556

Cold Spring Harbor

The Cold Spring Harbor Fish Hatchery, 1660 Route 25A, Cold Spring Harbor will host a tree lighting ceremony on Dec. 2 from 5 to 7 p.m. Santa Claus will light the hatchery’s Christmas Tree at 5:30 p.m. Free admission after 5 p.m. Suggested donation of $10 per family. 516- 692-6768.

Commack

Greenland Landscape and Nursery, 292 Town Line Road, Commack will hold its 8th annual Community Tree Lighting on Dec. 3 from 5 to 7 p.m. Santa Claus will be making a special appearance and hot cocoa will be served to warm up the evening. 631-368-7182

Coram

Coram Engine Company 2, corner of Route 112 and Pine Road, Coram will hold its annual Christmas Tree Lighting on Dec. 1 at 7 p.m. Join them in Santa’s Workshop to decorate your own Santa hat while you wait for Santa Claus to arrive to light the tree with music and refreshments. 631-698-9714

East Northport

Island Christian Church, 400 Elwood Road, East Northport will hold its 2nd annual Community Tree Lighting event on Dec. 2 at 5:30 p.m. Free family activities starting at 3 p.m. include ice skating, live nativity, storytime with Santa, indoor snowball fights and much more. Visit islandchristian.com/christmas for more info and to register. 631-822-3000

Farmingville

Farmingville Hills Chamber of Commerce and Farmingville Residents Association hosts a tree lighting at Triangle Park at the Town Clock, corner of Horseblock Road and Woodycrest Drive on Dec. 10 at 5 p.m.  (event starts at 3 p.m.) with a visit from Santa and music by the Helping Hands Ministry children’s choir.  Refreshments at the Farmingville Fire Department will follow. 631-260-7411

Greenlawn

The Greenlawn Civic Association hosts its 31st annual “Meet at the Tree” Christmas Tree Lighting on Dec. 2 from 3:30 to 5 p.m. at the Harborfields Public Library, 31 Broadway, Greenlawn. Enjoy hot cocoa, cookies, dance performances, a Christmas carol sing-along plus a special visit from Santa and Mrs. Claus on the Greenlawn Fire Dept. truck. Bring your letters to Santa for the North Pole mailbox. www.greenlawncivic.org.

Holtsville

The Town of Brookhaven will hold its annual Christmas Tree Lighting event at the Holtsville Ecology Site, 249 Buckley Road, Holtsville on Dec. 1 at 6 p.m. with costumed characters, musical entertainment, and a special appearance by Santa Claus, who will arrive via helicopter, and then assist with the countdown to light the tree. 631-451-9276

Kings Park

The Kings Park Chamber of Commerce hosts a Christmas Tree Lighting Ceremony/Menorah Lighting at Veterans Plaza, 1 Church St., King Park on Dec. 3 at 4 p.m. Enjoy holiday music selections followed by invocation and welcome remarks from the chamber with hot chocolate and cookies. Held rain or shine. 631-269-7678

Lake Ronkonkoma

Join the Ronkonkoma Chamber of Commerce at Raynor Park, 174 Ronkonkoma Ave., Lake Ronkonkoma on Dec. 3 for their annual Christmas Tree Lighting from 1 to 3:30 p.m. Enjoy live entertainment by the Cherokee Street and Nokomis Elementary School Choirs and a visit from Santa. 631-963-2796

Miller Place

The 15th annual Tree Lighting and Polar Express will be held at the Aliano Shopping Center, 691 Route 25A, Miller Place on Dec. 9 at 7 p.m. Enjoy performance from the Dance Pointe Performing Arts Center, as well as Miller Place students, and a visit from Santa Claus before the tree lighting. Free coffee, hot chocolate, soup, pizza, and donuts will be served.

Mount Sinai

Join the North Shore Youth Council and the Mount Sinai Fire Department for their 16th annual Christmas Tree Lighting at Heritage Park, 633 Mount Sinai-Coram Road, Mount Sinai on Dec. 3 at 5 p.m. Listen to festive caroling by the Sing 4 Music choir, warm up with hot chocolate  with marshmallows and fresh baked cookies by Mojo’s Treats and take photos with Santa. 631-403-4846

Nesconset

The Nesconset Chamber of Commerce will hold a Holiday Lighting at the Nesconset Gazebo on Smithtown Blvd., Nesconset on Dec. 3 at 3 p.m. with music, refreshments and a visit from Santa Claus. 631-724-2543

Port Jefferson

St. Charles Hospital, Port Jefferson invites the community to its annual Christmas Tree Lighting Ceremony on Dec 6 in the Atrium/Lobby starting at 4:45 p.m. with caroling, hot cocoa, and cookies.

Port Jefferson Station 

Join the Port Jefferson Station-Terryville Chamber of Commerce for a Community Tree Lighting at the Chamber Car, corner of Nesconset Highway and Route 112, Port Jefferson Station on Dec. 2 from 6 to 8 p.m. with refreshments and a visit from Santa. 631-821-1313

Rocky Point

The 39th annual Rocky Point Christmas Tree Lighting will be held on Dec. 2 at 6 p.m. at the corner of Broadway and Prince Road, Rocky Point with live holiday music, hot chocolate and candy canes and a special visit from Santa. 631-729-0699

St. James

The St. James Chamber of Commerce invites the community to a Christmas Tree Lighting celebration at Deepwells Farm County Park, 2 Taylor Lane, St. James on Dec. 9 at 4 p.m. with holiday music, kids crafts, pictures with Santa, cookies and hot chocolate. 631-584-8510

Shoreham

Tesla Science Center at Wardenclyffe, 5 Randall Road, Shoreham invites the community to a Holiday Lighting at Wardenclyffe event on Dec. 2 from 3 to 6 p.m. Enjoy music, festive exhibits and activities for all ages with a special visit from Santa and Mrs. Claus. Register for your free tickets at www.teslasciencecenter.org. 631-886-2632

Smithtown

Smithtown Library, 1 North Country Road, Smithtown will light their holiday tree on Dec. 1 from 6 to 7:30 p.m. with refreshments and photos with Santa. 631-360-2480

Stony Brook

The Ward Melville Heritage Organization hosts a Holiday Tree Lighting with Santa at the Stony Brook Village Center Green, 111 Main St., Stony Brook on Dec. 3 at 5:30 p.m. as part of the WMHO’s 43rd annual Holiday Festival. 631-751-2244.

Wading River

The Shoppes at East Wind in Wading River will host its 7th annual Tree Lighting on Saturday Dec. 2. The festivities start at 4 p.m. and last until 8 p.m., where all can enjoy live DJ entertainment and a dance number by All Star Dance Academy. Children can ride Rudolph on the carousel and put in a letter in Santa’s mailbox. Santa arrives on a Wading River Fire Department fire truck at 6 p.m. to light the tree. Rain date is Dec. 3. 631-929-3500

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Pixabay photo

By Leah S. Dunaief

Leah Dunaief

Let’s take a look at how the stock market is doing these days and what we should be doing with it. On the whole, this has been a good year for stocks. Through the end of October of this year, the total return for Standard & Poor’s 500 stock index is 10.7 percent. While recent high interest rates paid by banks, money markets and treasury bonds have sucked some money away from equities, we might be further encouraged to get out of the stock market. Every time the Federal Reserve has raised rates with the intention of cooling down inflation, savers with cash have benefitted. Even short term treasuries are currently offering north of five percent return.

Don’t do it, according to Jeff Sommer, who writes, “Strategies,” for the New York Times  Sunday Business. Here is why.

A new study gives further evidence that buying and holding is the surest way to profit on the stock market. Wei Dai and Audrey Dong of the asset management fund Dimensional Fund Advisors did the following research. They came up with 720 market-timing strategies, applied over different time periods and conducted on a variety of stock markets. Except in one anomalous instance, the “passive investing” strategy, meaning we buy-and-hold while minimizing costs to get as much market return as possible, is the best course to follow. We can do this through traditional mutual index funds or exchange-traded funds (ETFs that are like mutual funds but trade like stocks). Or we can make up our own mutual fund with a combination of diversified individual stocks. The idea is to just ride the ups and downs of the market. But in doing that, we have to accept losses some years for overall gains in the long run.

For example, in 1982, the Dow Jones Industrial Average, which simply put is where the price of a select 30 U.S. stocks are added together, hovered around 1000. Today, that number is 35,475. Over a period of 40 years, the Dow snapshot of the market increased 35 times. But that also means there were years when the Dow declined. If we needed to sell then, at a low point, in order to secure some cash, we might have had to take a substantial loss depending on when we had bought into the market.

“People are always trying to figure out ways of beating the market,” said Ms Dai, meaning selling high, then buying low. “But moving in and out of stocks isn’t a good way to do it,” she added. While we may be able to see a low, it is very difficult to foresee when to get back in at the beginning of a rise. And most of the big money is made during the early stages of a rise, when the market takes off and we are left to run after it.

Can individual stock picking be a winning strategy?  That is, at best, extremely rare. Those who remember him highly regarded Peter Lynch, who managed the Magellan Fund for Fidelity (1977-1990) and who seemed to sense potential winners consistently over the years. His fund became so successful, it would alone move the markets. 

“Most active fund managers can’t beat the market year after year,” according to NYT columnist, Sommers. And so his advice, along with the research from Dimensional’s latest study, tells us to just be average and float on the overall market through index funds.

Of course, if you want to add a little spice to your life, as I sometimes get the urge to do, you can do the following. You can follow the advice offered above for the bulk of your equity investments but keep a small percentage, just five to ten percent for stock picking. That way, if you succeed on ferreting out winners, you can beat the market a bit. You can bask in the shadow of Peter Lynch. But if you lose, the result isn’t too bad.

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