I don’t mind telling you that these are scary and depressing times for investors. One wave of bad news no sooner breaks over us than another one–even bigger–appears. The American banking and auto industries are circling the drain, and the Dow, which was within spitting distance of 14,000 just a year ago is now, having cracked the 8,000 level, trying to decide whether to rest there for a while or just plunge further. If you had bought a Dow index fund in July 1997, you might be exactly even now. Billions of dollars in stock value have been lost...