I bring that up given that investors are still largely missing from the bull market. And as I wrote in my daily blog a few weeks ago, statistics show that most investors who lose money over the long-term do so because they become fearful after suffering big losses in a bear market, swear off “the damned market for good”, and don’t become interested again until the next bull market has been underway for a long time. They then pile in with abandon in an effort to catch up after the bull market has just about run its course, and the next bear market is due. The cycle then repeats.