Set forth below are some words posted yesterday by the owner of the Sustainable Personal Finance blog to a thread at the Canadian Finance Blog:
My take, and I’ve experienced this in the past (example below) is that anyone who is adamantly offering an opposing opinion to what the masses believe/are-led-to-believe is “the enemy”. Proponents of buy-and-hold will use an excuse such as “you are cancerous to our community” instead of opening their minds to the possibility that there is not one, and only one, approach to investing that can actually work.
Rob does not tow the company line nor does he believe that buy-hold is in the best interest of the “average” investor. He (from what I understand) believes the people who re-inforce buy-hold, aside from perhaps Buffet, don’t actually employ such a strategy – they know of VII and use it in some form or the other and are part of the small percentage of people out there who truly succeed in the market – not just match the market.
While I wasn’t “banned” from the forum, some time ago I took a stance against all the boys-with-their-toys in a thread @ RedFlagDeals where I stated (and brought forth viable arguments) that netflix.ca was a waste of money due to the deprecated and obscure content and that Usage Based Billing could come and bite people in the butt big time. I feel that $8 per month is too much for a service greatly in superior to that offered in the US for $1 more. I made an analogy that if I were to offer some of these boys a FULL MONTH worth of the Globe and Mail, but it was content from 2007, would they kindly pay me $8 per month for it? There is entertainment value in old news and older lifestyle stories, so why isn’t this a service that exists? Cuz it SUCKS. Anyhow, to stop rambling – the result of my disagreeing with the masses of tech geek nerd kids who have to have the newest toy always – I was admonished as a “troll” who provided no value to the forum blah blah blah.
Results? Increasingly in that thread people posted they were quitting the service. Why? Content was deprecated and obscure, they didn’t need to waste time watching crap tv/movies and then … you got it … the CRTC approves usage based billing.
So all that being said (I feel my response may be longer than some of Rob’s!) the fact is Rob has a differing point of view that upsets people who have been inandated with the buy-hold strategy and after enough complaints from the masses the “powers that be” ban him from their sites. They can’t handle the heat (or perhaps the truth).
Personally, i’m not entirely sure Rob is correct. However, I do like to read differing opinions to allow me to make my own valuations and judgments that I can live with. I had Rob guest post on our site and have read many more of his articles as well. Still up in the air, but he at least deserves to be able to present contrary opinion / ideas / theories w/o being banished by the weak and the scared.