I’ve posted Entry #144 to my weekly Valuation-Informed Indexing column at the Value Walk site. It’s called Buy-and-Holders Show Their Worries in Discussions of Failed Retirement Studies.
Juicy Excerpt: Beth Strycharz wrote: “It’s quite obvious that conventional wisdom for the past 10 year is out the window. New game, new rules, new plans.”
This has always been the problem with the Old School studies (and with Buy-and-Hold in general). The studies pretend to be science. But they assume that we will never again see a bear market. Once we do, all the “findings” in which retirees have placed their confidence are out the window. True research findings don’t change each time market psychology shifts.