In September, the S&P 500 logged its worst performance since 2002. And after further pain to start October, stocks touched on a two-year low. Many investors are convinced that the worst will be over soon, and then they can get right back to the business of reaping 25% to 50% a year in Big Tech stocks the way they used to in the good ol’ days. Fat chance. The sheer volume of naïve investors out there, full of excuses and wide-eyed optimism about the market, is staggering. They say the war in Ukraine that began last winter was a once-in-generation conflict, and it’s only a matter of time before Big Tech comes roaring back… They shrug at 500-point declines in the Dow, pointing out that at least things aren’t as grim as they were during the financial crisis or the dot-com crash… And when all else fails, they point out that, hey, at least we aren’t living through another Great Depression.… Read more