The www.Conservatives4Palin.com site has posted my Reader Submission titled How Ruing Class Stock Pushers Caused the Economic Crisis.
Juicy Excerpt: Why would experts say that Buy-and-Hold can work if it always causes an economic crisis? Stocks pay higher commissions than most alternative asset classes. It is in the short-term financial interests of those who make their living selling stocks to persuade middle-class people that stocks are always the best buy.
Some say that this is not a political issue, that those selling stocks should be able to say whatever they please to persuade middle-class people to buy them and that it’s the tough luck of the people who fall for the marketing pitches if their retirement plans fail. But what if the middle-class people who fall for the marketing pitches do so largely because they are not able to hear the argument against Buy-and-Hold strategies?
Juicy Comment #1: Oh, Do come along Robbie! We’re not sheep and there’s no excuse not to research with the internet when their own money is so clearly at risk.
Juicy Comment #2: The entire rant sounds like some kind of re-invented class warfare (“Ruling Class?”) in which the middle classes are robbed blind by “powerful forces” who are able to stifle all mention of opposition to the malevolence of The Supreme Evil of Buy and Hold. Anyone taking even the slightest interest in investing will find this whole meme to be preposterous.
Juicy Comment #3: I actuallly understand where Mr. Bennett is coming from. I chose to publish the article because our Reader Submissions are coming from many different points of view, on various subjects related to the economy and public policy and even the culture. You’re free to submit a rebuttal. I have interviewed many financial advisors who wish they hadn’t subscribed to the “buy and hold” philosophy.
Juicy Comment #4: I am grateful to you for adding your words of dissent. We need to hear BOTH sides. When you say that investing boards permit all sides to be heard, I ask you that you consider that that’s just what Palin haters say about the mainstream media. People who stifle dissent ALWAYS think they are doing it for the public good. The problem with not permitting a variety of voices to be heard is that, having heard only one side of the story, we never know what we would have thought if we had permitted the other side to speak.