I’ve posted Entry #74 to my weekly Investing: The New Rules column at the Death by 1,000 Papercuts site. It’s called The Reviews Are In: My Investing Ideas Are “Catastrophically Unproductive”!
Juicy Excerpt: Scott said some amazing things in e-mail correspondence with me in the days that followed. While he had written in the column that “a newer school of thought believes that the safe withdrawal rate depends on how stocks are priced at the time you begin making withdrawals,” I think it would be fair to say that he adopted a huffy tone in his future conversations with the fellow who founded the New School and who has for nine years now been the lead promoter of the New School findings and the leading voice calling for correction of the discredited Old School studies.
Scott’s take on Rob Bennett was well summed up in the comment he made in an e-mail to me saying: “You go about it in a manner that is catastrophically unproductive by adding missionary zeal that inflates your importance and demeans others. The whole ideas that there is a New School of safe withdrawal rates reeks of personal aggrandizement.”