I don’t think so. I think anyone who doesn’t invest in individual securities or actively managed/alternative ETFs is a passenger, not an investor. I had someone on the ETFs forum ask me if I knew what market beta is the other day. Can that person really call themselves an investor?
Very curious to see what will happen to perennial index fund holders when the market stops going up 15% every year. Even the “knowledgeable” index fund guys are always leaving long comments detailing concepts I saw in my first two years of college, concepts that are not all that applicable to a long term buy and hold portfolio.