Dan Ferris on index funds

Psychologically, you've gotten used to buying every dip for the last 13 years going back to 2009.  Psychologically, you've gotten used to the fact that your bonds protect you from the drawdowns in your stocks.  And it's really hard to shake these.  We still have people saying, "Oh, the best thing you can do is just buy an index fund and hold it for the long-term, and Warren Buffett says to do it, so you know it's really good."  But Warren Buffett is a beneficiary of this status quo...  He's worth tens of billions of dollars because of this financialization...  So it's sort of weird to listen to somebody like that at this moment.  Nobody's right all the time and nobody's right forever.  And what looks like long-term wisdom of the ages can sometimes look really bad for awhile and I think right now we're learning that just buying an index fund and hanging onto it might not be the greatest thing in the world.  This might not be a great moment to double down.

~ Dan Ferris, Stansberry Investor Hour, 8:45 mark, June 21, 2022