Jack Bogle would shit a brick right now and go short, haha.
By the way, as I've been saying for you buy and hold forever types....what has been will not always be....example - an article on how racist the 401k system is:
https://www.yahoo.com/finance/news/one-way-to-reduce-the-racial-wealth-gap-is-with-more-401-ks-expert-192330366.html
Listen to what they say the answer is....offering equal results for unequal input. NOT based in reality and certainly NOT bullish for long term investing.
LOL
No, Jack Bogle would do no such thing. I read the article and it says nothing about "offering equal results for unequal input" or about "how racist the 401k system is." This is just an opinion piece by "the vice president of Race and Ethnicity Policy at the Center for American Progress"...LOL...suggesting that low-wage jobs should equally offer 401K benefits just like high-wage jobs do.
I seriously doubt that a law to accommodate this could ever get passed, but even if they did this is hardly a threat to "buy and hold" as you are suggesting. Heck, Democrats have tried for years to pass laws forcing 401K providers to disclose all fees charged to participants, but they haven't been able to. 401K providers are very wealthy and powerful, and fiscally conservative. One can't be paralyzed into inaction with fear of what might be.
SOMEPARTS, you sound just like an actively managed fund sales man. You don't understand passive investing. Passive investors don't advocate for "buy and hold forever." They advocate for "time in the market over timing the market", they advocate for re-balancing your portfolio at least once per year, and they advocate for "buy and hold until you need your money in retirement", not forever. They are also well aware that "past performance does not guarantee future results" and they repeat that often.
There is risk in investing in the stock market. More risk, more reward. If you are risk averse, then you are right to stay away from the stock market and you shouldn't participate in your 401K plan, tough that would be leaving money on the table if your employer offers a match. If you take less risk, good for you, but be content with your returns as mediocre as they might be.