I’ve posted Entry #52 to my weekly Beyond Buy-and-Hold column at the Out of Your Rut site. It’s called The Social Taboo on Talking About the Realities of Stock Investing Is Holding Us Back.
Juicy Excerpt: The Ban on Honest Posting is a Social Taboo that instructs us that we shall not discuss in public our sincere beliefs about the effects of valuations on long-term returns. Everyone I know, even the most ardent Buy-and-Holders, acknowledges that valuations matter. But few are willing to quantify this effect. Robert Shiller’s investing ideas are Politically Incorrect. It’s not that people think they are wrong. It’s that people believe it is wrong to even think about them or discuss them. There are five reasons why I view this Social Taboo as a disaster.