The devastating losses suffered by many investors at the end of bull markets causes them to swear off of stocks forever.

We need a model for understanding how stock investing works that does the job both in bull and bear markets. That’s for sure.

Many investing advisers feel compelled to compromise their integrity during bull markets.

But I don’t get the feeling that they like the idea. How many have gone to the trouble to send hints about the realities? Why would they do that if they didn’t take a certain amount of pride in the work they do?

I believe that one of our big hopes for the future is that a lot of the people who have been singing the praises of the Passive Investing model for years now would like to be able to put their energies to more constructive pursuits. It may be that some people who are now the biggest advocates of Passive Investing will be the ones leading us out of the darkness in days to come.

There’s no law against optimism, is there?

Rob

I would be willing to let you use a couple of numbers but Karen (my wife) says NO.

It always pays off in the long-term to marry someone smarter than yourself.

I speak from experience.

Rob