Is Stocks For the Long Run a Lie?

I can’t believe what I just read.  Mark Hulbert publishes The Hulbert Financial Digest a monthly financial newsletter tracking service.  As of the end of February, the best performing newsletter in his database dating back to 1980 belongs to a guy who is 89% cash.  Get this – he has been primarily in cash since 1986.

What about about stocks for the long run?  Someone has some splainin to do.