I’ve posted Entry #80 to my weekly Beyond Buy-and-Hold column at the Out of Your Rut site. It’s called Nothing Brings Down the Savings Rate as Much as a Bull Market.
Juicy Excerpt: To persuade millions of people who need to save that they they do not need to save is a bad thing. That’s what Buy-and-Hold did to us. It persuaded us that we didn’t need to save even though we did. It hurt us. It tricked us. It pandered to our most greedy and lazy and self-destructive emotional impulses. It made us the worst that we can possibly be.