The Definition of Stupidity?

We all know the definition of stupidity is doing the same thing over and over again and expecting different results. Yet, isn’t that what conventional investing advice asks of us – to keep investing for the long term, even when markets are crashing, and expect different results?

"In my lifetime, I have lost a lot of money. Yet with most losses came a valuable lesson. The primary reason I say this caller is asking a stupid question is because I believe she not only is failing to learn a lesson, she is actively making the same mistake. She is living out the definition of stupidity: Doing the same thing over and over again, and expecting different results."