The key word is investors. As Bogle has pointed out we are now in a market that dosen't invest but merely trades for profit. This will pass as computerized trading will end up eating itself or one or two firms sustains mega losses. You saw a taste of that the other week with Knight. There are many more examples. Just a matter of time. For the ignorant here on the message boards who believe that individual investors are still players. News flash..They are sadly mistaken. They have been marginalized for some time and account for less than two percent of the markets total daily volume. My point being. They are one bad trade away from disaster if they are playing with anything but house money or chump change. I call them social traders. If they were doing it for a living they would not have the time to post dribble here. In case your wondering about me. Retired fat and happy from the Street. Get on a board once in awhile when i see a deal. Patience being the key. Sort of my FB.