Hi Insider,

I meant that the majority of stock market participants are the 10's of millions of 25 thru 50-year olds who opt to put a portion of their retirement/investment $ into IRA's, 401K, and ESOPs -- what you are referring to as funds. Those fund managers who allocate all that money are just accountants who press a button every other week -- on payday -- based on their payroll size, not on any short term economic data. Ex. I have 3 brothers: one a Chgo cop, one a manager at the Clorox plant, and another a park district worker. They have made 100's of thousands of dollars over the past 20 years simply by putting the majority of their payroll deductions i401K's etc into blue chip stock indices and reinvesting the dividends, which is an option for them thru their work, as it is for nearly all public and private sector employees.

Given the wealth they have accumulated for the benefit of their families how do you think they will advise their kids when they ask Mom and Dad how they should allocate their own 401K's now that this next generation is finishing up school and starting to get jobs?

The only skill the individual needs is to opt into the "blue chip growth option" of their work sponsored retirement savings plan. AND avoid trying to time the market.

You and I on the other hand play a completely different game as traders. Something I would not recommend for most people given the risk and learning curve.

And the financial media...well they are worse than sports writers when it comes to making copy up out of thin air to try to explain something they have no idea about.

It's all demographics and government steering with only a sprinkle of economics. The vast majority of people don't have the patience or risk tolerance for leveraged positions.