Set forth below is a comment that I posted to the blog in response to a claim put forward by one of the Greaney Goons that Academic Researcher Wade Pfau no longer views me as his biggest booster alive on Planet Earth:
Do you think Wade would agree with your statement that you are “the biggest Wade Pfau booster alive on Planet Earth”?
In the days before the Goons threatened to destroy his career if he continued publishing honest research, I am 100 percent certain he would have agreed. He demonstrated his feelings of close friendship with me on many, many occasions during the time he was doing honest work.
Obviously his goal today is to cover up his unethical behavior. This is one of the reasons why I think we need to bring the Campaign of Terror to an end. Wade should feel that he can do honest research and that the Buy-and-Hold Goons will not destroy him. ALL academic researchers should feel that they can post honest research. We all NEED all the researchers publishing honest research.
But we obviously cannot get there so long as people like John Bogle are pretending that Buy-and-Hold can work. We learned about the errors in the Old School SWR studies in May 2002. The Buy-and-Holders have taken on hundreds of billions in legal liabilities by covering up the mistake for 10 years. So they see it as a major threat if even one academic researcher does honest work.
The answer is for everyone to start doing honest work on the same day. We need Bogle to give a speech acknowledging the 30 years of research showing that there is zero chance that Buy-and-Hold can ever work in the long term. We need to get that speech written up in the New York Times.
Once the cover-up comes to an end, the benefits we will all enjoy as we make the transition from Buy-and-Hold to Valuation-Informed Indexing will be so great that we will all be feeling 500 times better about ourselves. We will be focusing on the huge economic boom we will see when we share with other people all the wonderful things we have learned about stock investing over the past 10 years and we will in time be able to put all the ugliness we have seen during the Campaign of Terror to an end.
Make that speech, Saint Jack!
We need you to step up the plate, man!
Wade Pfau (and lots and lots of others, including Rob Bennett) are counting on you!