Carl Richards, author of the Behavior Gap blog, on November 13, 2009, sent me a response to the e-mail set forth in my last blog entry. His response read in full: “Thanks for the note. I would appreciate if you did not use any of my email on your site or any other published piece.” Set forth below is the response e-mail that I sent to Carl later that same day.
But I think it is fair to say that your reaction highlights the root problem. Until people work up the courage to report the realities of investing frankly and plainly, the nonsense we have been putting into investor’s heads for 30 years now is going to continue to cause us all to suffer huge financial pain. My view is that we all should be working together to stop our economic and political system from going over a cliff.
I am not ashamed to tell people why their investing decisions are so emotional despite the efforts of many Passive Investing dogmatists to cause me to feel shame over this. And I believe that your work would be that much more valuable if you added this element of the story to your presentation.