Dow Closes Above 10,000!

Everyone is excited about the Dow closing above 10,000 - all the CNBC talking heads are going on and on about it. Exactly 10 years ago, October 15, 1999, the Dow closed at 10,019. If you believed the buy and hold mantra and bought a Dow Jones mutual fund in October 1999 you would have a magnificent return of 0%. Ten years of nothing. Why is that better than a strategy with a clear plan to manage equity risk?