> less frequent, larger major market shifts make equities-based investments less, not more, suited to individual investors. My comment may not have been clear.

> less frequent, larger major market shifts make equities-based investments less, not more, suited to individual investors. My comment may not have been clear. I wasn't claiming that equities (or a certain % of one's portfolio in equities) are or aren't suitable for individual investors. Rather, I was stating that a 30-35% decline during one's ownership is normal: https://www.yardeni.com/pub/sp500corrbeartables.pdf https://www.yardeni.com/pub/sp500corrbeartables.pdf page 4. Between the end of the Great Depression and now, roughly every 5-10 years you'll see a major decline. Since 1940, I count 13 peak-to-trough drops of -20% or more and 7 of -30% or more (including -36% in 1968 and -48% in 1973 - this isn't a new thing). If you want to own equities, that's what you're signing up for.