I’ve posted Entry # 124 to my weekly Valuation-Informed Indexing column at the Value Walk site. It’s called Why Most of Us Don’t Feel Comfortable with Free Discussion of the Investing Realties.
Juicy Excerpt: Shiller’s research showing that valuations affect long-term returns has only been available to us for 30 years. That sounds like a long time. In relative terms, it isn’t. There were hundreds of years in which people did not know of the need to change their stock allocations in response to big valuation shifts. Beliefs on such fundamental questions change only gradually.