Yesterday’s blog entry reported on an e-mail that I sent to Academic Researcher Wade Pfau on March 4, 2011. Wade responded later the same day.
He said that he thought that Scott Burns would be interested in the New School safe withdrawal rate research since “I think he is the one personally responsible for making the Trinity study famous.” He explained that, “since he and the authors live in Texas, maybe they know each other. Otherwise, no one would have heard of the Trinity study. It is in a very obscure journal.”
Wade said that he had sent Scott several of his research papers and received polite brushoffs in return. According to the e-mail: “He does kindly respond, but then that is the end of it.” Wade quoted Scott as saying of one of Wade’s research papers: “”Thanks for sending this. I will read it with great interest.”
Wade sent a separate e-mail to me that day correcting a tweet that I had posted to the Twitter.com service. Mel Lindauer, co-author of the Bogleheads Guide to Investing, had become hostile when Wade posted research to the Bogleheads Forum showing that Valuation-Informed Indexing has provided higher long-term returns than Buy-and-Hold throughout the historical record at greatly reduced risk. I posted a tweet on the exchange incorrectly saying that Mel had accused Wade of “Back-Testing.” He had in fact accused him of “Data-Mining.”
I responded the same day. I said: “Thanks for letting me know. You are of course correct. That is now fixed.”
Wade responded by saying: “I figured it was a typo, but that is the type of thing that DRiP Guy likes to jump on you about.”