<prompt> Human: Every single post, like a broken record, someone will give the advice to invest in the Vanguard Total Stock Market index and down vote anyone who says otherwise.While this is good advice to someone who is totally new to investing, and is much better then most options like putting money in a loaded mutual fund with a stock broker. I find this fund to be severely lacking for several reasons, and you can do much better.So allow me to educate you why selecting your own portfolio of low cost index funds is superior to putting all your money in the total market index.1. The Vanguard Total MARKET Index Fund has hardly any small cap stocks within it, and even less small cap value stocks.Small cap value have been the best performing asset class over the past 87 years. From 1928 through 2014, U.S. small-cap value stocks turned in a compound annual return of 13.6 compared with 9.8 for the SP 500 Index.VTI only holds 6 Small cap stocks, and only a small portion of that 6 is small cap value.GUYS THIS SUCKS BIG TIME! Why would you limit yourself to less then 6 of the best returning asset class over past 87 years???2. THE VANGUARD TOTAL MARKET INDEX FUND HAS 98 HOLDS IN NORTH AMERICA. And most of those are Large CAP US STOCKS.The USA only currently makes up around 50 of the global stock market. But where is your exposure to the other 50 of the earth? European and Emerging market stocks are highly under valued by all metrics in comparison to the USA stock market right now. If you think the USA market will always outperform the world market I invite you to look at the time period from 1999-2009 where Large Cap USA stocks severely unperformed.For the period of December 31, 1999 through December 31, 2009, the SP 500 index had an annualized simple price return of -2.72. When dividends are factored in, the results do not get much better as annualized total return for the SP 500 index with dividends reinvested back into the index over the same timeframe was -0.95.To my millennial friends who have only known the SP 500 as the best asset class outperforming all other things, I highly suggest you reconsider your strategy. If you would of held a portfolio of small cap stocks, emerging market stocks, and Foreign stocks in addition to the SP 500 during this time you would have acheived very good returns instead of losing money.Index Name Asset Class Annualized Total Return 123199 123109 SP 500 Index Domestic Large Cap -0.95 SP 400 Mid-Cap Index Domestic Mid-Cap 6.36 SP 600 Small Cap Index Domestic Small Cap 6.35 MSCI EAFE Net Index International Developed Markets 1.17 SCI EM Emerging Markets Net Index International Emerging Markets 9.78Do you see why simply holding the SP 500 and ignoring everything else is not always the best option?So please... investing in the total market index is better then nothing, its a simplistic, easy way to get someone started in investing, much the same way you give a 1st grader a bicycle with training wheels.However, it is not wise to continue to parrot this advice on this forum where there is lots of research that proves a globally diverse index portfolio tilted towards SMALL and VALUE stocks outperforms over the long term.Eugene Fama won the nobel prize proving that Value and Small company stocks outperform.I am not a financial advisor, I look under a microscope at blood all day, but I listen to financial podcasts all night at work, and am on course to become a millionaire on a middle class salary. I just ask that you people open your minds to learn more about the science of investing, rather then simply parroting to everyone they buy one fund that is heavily weighted in Large US stocks when all the research shows this is less then ideal.  <response>: Small cap value may have the best return but its also going to be a lot more volatile. Most people cant handle that much volatility, I know I cant, my ideal riskreturn is the SP 5OO, I cant even handle the turmoil of a total u.s. stock index which is only slightly more turbulent than the sp 500. Warren Buffet, the greatest investor of all time, recommends most people just invest the sp 500, as it has just about a perfect mix of a decent return and palatable volatility. 