I’ve posted Podcast #165 to the “RobCasts” section of the site. It’s called I Was Wrong: There’s An Economic Reason Why We’ll See Another Stock Crash.

When prices fall from insanely overvalued to fair value, many businesses are destroyed. That forces prices down to insanely <i>undervalued</i> levels for a time. This process takes time. It may take years for us to complete it. It is not realistic to expect a recovery from decades of the promotion of Passive Investing to be completed with one price crash.