Buffett has no problem with program trading, wicked shorters, MMs or other sinister "dark" things. Buy and Hold quality stocks and the winner will be investments that grow, make profits and pay dividends.
I guess the press always needs dramatic headlines and they always feel they must explain utterly normal zigs and zags. The story isn't the recent correction we've had. The story was the incredible unrelenting price appreciation we've experienced since early 2009.
Seeing stories suggesting that "lazy" indexing is playing a role in this [minor] downturn. Some writers are putting out the notion that index funds work in bull markets, but not in bear markets. Ridiculous.
I still have some active funds from 30 years ago which I've held mostly out of laziness. They're now falling at least as much as my index funds. But I'm also paying about 1% annually (times 30 years) to have some Ivy Leaguers run those laggards. Active funds also suffer due to vastly higher portfolio turnover... trading costs, bid/ask friction and tax inefficiency. I bought those active funds 30 years ago and intelligently haven't added a cent to them in 25 years.
Perhaps I missed where those highly paid active fund managers sold out all my stock holdings two weeks ago. LOLOL
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