Every single Ivy League endowment—managed by some of the most “sophisticated” investors in the world—failed to beat the performance of a simple 60% stocks/ 40% bonds portfolio over the past ten years. The investment advice industry is a scam.

The stock market was bad yesterday; it is bad again today. Will it be bad tomorrow? Perhaps.

The Dow Jones Industrial average fell 831 points today, a three percent drop and its third-largest one-day drop ever. (The top two came this past February.) The Nasdaq took a four percent hit, dropping over 300 points. The S&P 500 dropped over 3 percent, too. Seems bad, or good, or completely inexplicable.