Lol, so true re the stop. It's why they're relatively useless.
Hey, DG, you're yet another example why investing and, in particular, investment management, are not one-size-fits-all. We all have a different downside tolerance.
As an anecdote to the discussion, I had a client with two large rollover IRAs, one that was managed and one that garaged shares of LMT. She was an LMT retiree and felt it was a "safe" investment.
When LMT warned of an earnings miss last summer and the stock began falling, she freaked. We had a meeting on diversification. One by one I overlayed other defense stocks, then stocks from other sectors, some with lower beta ratings than LMT. Not a two-year graph, but five and 10 years. When LMT did poorly, others did well, and vice versa. Her managed account had done better over time.
Her eyes grew large as saucers. Now she could see why. She still owns LMT, just not as much.