Could be 2008 is really the reason there are so few of these left, everyone realized the risk adjusted return just wasn't there when tail events were taken into account.
Especially for the individual investor yes when we are under-compensated for the risk to begin with and no matter what, we are always less well-capitalized than the "Big Boys" to absorb the possible loss. I mean after all, when we lose, we don't have an entire country to bail us out; we just lose everything.