[cowmoo728]

I get the sense that the vast majority of professional investors are just being swept around by the tides of the market. Over the past 70 years in the United States, that has generally been upward. Until they get dashed against the rocks, but the professional consequences are so low that they can pick themselves up and start again once the tides are better. People attribute so much individual human agency to financial professionals, but 99.9% of them are at the mercy of forces outside of their control, like technological advancement, population growth, federal reserve policy, and globalization.