For sure, and from observing this whole fiasco, it has become apparent that anyone engaged in the activity of "downside protection" is probably a scammer.
The only downside protection you need is a) time in the market, b) investing in very high-quality companies, and c) having enough savings to fund your living expenses for a year.
Anyone else who tells you otherwise is probably a con artist or a salesman trying to convince you to hand over your money so they can charge you obscene fees without ever guaranteeing you that they can meet their return objective.
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