I’ve posted Entry #47 to my weekly Valuation-Informed Indexing column at the Value Walk site. It’s called Buy-and-Hold Is Dead! Long Live Buy-and-Hold!
Juicy Excerpt: I can testify on Scott’s behalf re that one. I’ve been reporting on the accurate numbers at discussion boards and blogs for nine years now and my experience is that the accurate numbers are information that lots of people very, very, very, very, very, very, very much do not want to hear.
We hate knowing the realities of stock investing. Hate it, hate it, hate it, hate it, hate it. That’s the premise of the VII model. Investors are emotional. The purpose of investment research is to rein in investor emotions. It is essential to incorporate valuation adjustments into all calculations. It is critical to report the numbers people use to develop their investing strategies accurately.