I recently posted a Letter to the Editor at John Walter Russell’s site entitled Rational Investors Do Not Become Permabears!
Juicy Excerpt: To be a perma-bear is as bad as to be a Passive Investor. The two psychologies are two sides of the same emotional coin. The biggest danger we face today is that millions of middle-class investors are going to become perma-bears because they fell for the Passive Investing gibberish and are now disillusioned with how it works in the real world. Stocks cannot be blamed for these losses. The market cannot be blamed for these losses. The blame lies with the Passive Investing model, which encourages reliance on emotions for guidance and which rules out the use of human reason in execution of the investing project.