Describing a buy and hold strategy for a bond portfolio as an act of “wanton imprudence” would likely be an exaggerated or subjective assessment. Typically, a buy and hold strategy for bonds is considered a conservative approach, often favored by investors seeking steady income and capital preservation. However, it might be deemed imprudent if the bonds in the portfolio are subject to significant credit risk, interest rate risk, or other factors that could adversely affect their value over time. In certain market conditions or for specific investment goals, active management or periodic reassessment of the bond holdings might be considered more prudent. Ultimately, the suitability of any investment strategy depends on various factors, including the investor’s risk tolerance, investment objectives, and market conditions.
