Memory bro portfolios down 50, 60, 70, 80% in the last 4 months. Some have even been zero’d out already.
And this is all the index has done so far.
Now imagine a 10 year stretch where passive doesn’t give everyone a “free”15% per year (like they all expect) and instead the index suffers an extended drawdown and just chops around with no meaningful return for a decade.
That is max pain and that is what’s coming.
42



