I mean, there's some causality there; when the active investors try to take their money out as cash all at once, it does tend to have negative effects on the market. but... I think that, generally speaking, the goal of your active investors is to buy during the downturn, and sell into the upturn.

Buy low, sell high; not the other way around.

I mean, that's the goal. Of course, it doesn't always work out that way, but you don't plan on selling at the bottom and buying as it recovers.