I recently wrote a Guest Blog Entry for the Weakonomics blog entitled The Bankers Did Not Do This to Us!
Juicy Excerpt: Did they stick all the money in suitcases and catch a plane to another time zone?
Some good comments.
Juicy Excerpt: I’m getting more and more tired of people shoving blame back and forth. I frankly, could care less whose fault it is. I’d rather spend time trying to find the best solution possible.
John Walter Russell says
Rob,
As you have probably guessed, I am not the “Russell John” in today’s passion comments.
Have fun.
John Walter Russesll
John Walter Russell says
Oops! Typos.
I am not the “Russell Johns” in today’s passion comments.
Have fun.
John Walter Russell
[Two typos in one entry. Ouch!]
Rob says
Yes.
Each person who tolerates this sort of behavior says something about himself or herself by doing so, in my assessment.
Also, it says something about the Passive Investing model that it drives some people to this sort of behavior or to tolerance of this sort of behavior.
Rob
John Walter Russell says
BTW, in case there is any real question about it: John Greaney DID insist that the single number 4% was THE safe withdrawal rate (given an optimum stock allocation), not simply a historical number. He repeated this many times at the Motley Fool web site.
He did this even after you pointed out the paradox: what if the market falls in half? should old investors withdraw at 8% of the new balance? Can new ones get in on the action?
Have fun.
John Walter Russell