As a financial advisor to numerous types of clients, including recent retirees, I often think deeply about the issues my clients face in this market environment. Many retirees not only lost a material portion of their home equity back in 2008, but also a large chunk of their nest eggs. They also remember the tech bubble, the flash crash, and names such as Bernie Madoff and Allen Stanford.

Since the financial crisis, they have unenthusiastically participated in the market, feeling very risk-averse and lacking confidence. Many of them do not read the Wall Street Journal every morning and don't have much of an opinion on which New York hedge fund will ultimately be deemed victorious in the Herbalife fight.

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