"Destroyed" seems a bit hyperbolic. SPY is at ~$380. It was last at ~$380 in early 2021. Effectively net zero for 1.5 years is hardly "destroyed", unless you as

"Destroyed" seems a bit hyperbolic. SPY is at ~$380. It was last at ~$380 in early 2021. Effectively net zero for 1.5 years is hardly "destroyed", unless you assume everyone simultaneously bought at the $470 peak of the markets.