Re: hi there business folks
There will always be booms and busts - expansion and contraction of the money supply. In the 18th century, America suffered 15 depressions, not recessions, depressions. Don’t get me started on the 20th century.
Smart folks can figure out when to go and when to get out/change asset classes. I still think passive investing is better for the vast majority of investors, active investing and making gains beyond the average 20% year on year is a lost art form. I started work in the industry 1 month after the first run on a UK bank in over 100 years so I was bloodied in the industry pre bear stearns. Smart people were pulling out then and going to pure cash positions, gold, oil and precious metals. Learnt a lot back then from some very smart guys - but the vast majority of guys didn’t have a clue as to what to do when things turn sour, they were great at being long run bull market investors.