I’ve posted Entry #100 to my weekly Investing: The New Rules column at the Death by 1,000 Papercuts site. It’s called The Ethics of Card Shuffling and Retirement Planning.
Juicy Excerpt: I said that the Old School retirement studies got the numbers wildly wrong. They did. No one disputes that today. I should be a hero to everyone in the field. But all that a lot of people hear is: “You made a mistake in your study and caused millions of failed retirements.”
I don’t say that the mistakes were deliberate. I don’t believe they were. But the people who made the mistakes have responded defensively. They think they should be above making mistakes. Or perhaps the mistakes to some extent really were deliberate, perhaps they knew that there were problems with the methodology they used and elected not to worry about them until I highlighted the issue. In their minds, they have been called out on an ethics lapse. And they intend to fight that one to the death.