>>The stock market doesn't operate on long-term principles anymore.

Nah, it might appear so, but the moment of reckoning always arrives, always. Like eventually, it arrives.

Its a different argument, that most people themselves are not long-term investors, in that case of course, such a thing doesn't even apply to you.

I think Fidelity did some research that the most profitable accounts belonged to dead people. The proven formula is to pick the best stocks out there, pyramid upwards and be patient.