Of course. I favor passive investing for most investors, because markets are amazingly successful devices for incorporating information into stock prices. ↗
To allow all U.S. workers to put part of their earnings into private investment accounts would definitely erode the Social Security system and cause uncertainty for new investors. ↗
And we invested three hundred thousand dollars, became the lead investor and I became Chairman of the Board of Scientific Data Systems, as I was at Intel for a while. ↗
A typical Ponzi scheme involves taking money from investors, then paying them off with money taken from new investors, rather than paying them from actual earnings. ↗