Ben says yes, investors are getting smarter. His evidence is the fact that a market sell-off of 35% brought in millions of new investors, arriving as they did, all at once, as though prompted by a divine thunderclap from the skies. It’s really quite remarkable that the reaction to a bear market was a speculative mania and a new generation of investors getting into the game all at once. The 2008 crash produced the opposite response – millions of people vowed they’d never trust or rely on the stock market ever again. +1 (917) 540-6095 – who do you agree with, Ben or Michael?