Valuation-Informed Indexing #152 — Buy-and-Hold and Valuation-Informed Indexing Cannot Co-Exist

I’ve posted Entry #152 to my weekly Valuation-Informed Indexing column at the Value Walk site. It’s called Buy-and-Hold and Valuation-Informed Indexing Cannot Co-Exist.

Juicy Excerpt: We all learn more when we have available to us smart people who challenge our thinking. I would not be happy on a discussion board populated solely by Valuation-Informed Indexers. I of course like it when people say that the strategies that I advocate possess merit. But I learn more when I am challenged than I do when I am applauded. There have been several times during the 11 years of discussion in which I have solved some riddle that had long troubled me because a sharp Buy-and-Holder posed a challenge in such a way as to help me finally see through to the core of the dispute.

There are obviously lots of people who view Buy-and-Hold as the ideal strategy. We need to have those people’s opinions reflected in all discussions of stock investing. The normal thing in our society is to permit both sides to have their say. Democrats don’t need to acknowledge that Republicans are right to acknowledge that they have a right to speak up. And Republicans don’t need to acknowledge that Democrats are right to acknowledge that they have a right to speak up. We are a diverse nation. But we are united in a belief in free speech. So the ideal would be if Buy-and-Hold and Valuation-Informed Indexing could co-exist.

I no longer believe that is possible.


  1. Evidence Based Investing says

    As you have changed subjects can we assume that your conversation with Robert Savickas has come to a conclusion?

  2. I am a moron says

    Oh please, Mr. Bennett. Please tell us how to fix everything. We cannot survive this crisis without you. Do not keep those “keys” away from us.

  3. Rob says

    I’m working on it! I’m working on it!

    Rob, the Fellow Who Plans on Doing Well by Doing Good

  4. The Deleted plop contributor says

    Life moves on. People go to work, enjoy vacations, spend time with family, take walks, meet new friends, etc. every day is different for most people. Not for Rob. He spends every day here making up his little fantasy stories.

  5. Rob says

    A solider has to give up baseball games and picnics and movie nights for a time, does he not, Deleted?

    Why does he do that?

    Because he loves his country.

    He would prefer to be able to go to baseball games and picnics and movie nights. But, once his country calls him, he would feel AWFUL if he ran away from his responsibilities. When he is called, he serves.

    I am a patriot. I am serving my county in my way.

    I don’t have bullets flying at me. But I have had your hate and anger and abuse flying at me for 11 years now.

    We are all asked to serve in different ways. This is how I have been asked to serve. I intend to do the best job of which I am capable.

    I’ll go back to enjoying all the fun stuff when we all make it together to the other side of The Big Black Mountain.

    I’ll let you in on a little secret re what I will find there.

    The beer will taste better than it ever tasted before.

    I will know deep inside that I came through when my country needed me. You can’t fake that belief, Deleted. What you did is what you did.

    I drew a line in the sand. I announced on the morning of May 13, 2002, that I would never, never, never agree to post dishonestly re the numbers that my friends use to plan their retirements. And I never have. Not once in 11 years.

    You can’t say that. I can. That’s the difference here.

    It’s because of how the things you have done make you feel about yourself that you are so filled with hate. And it’s because of how the things I have done make me feel about myself that I am so filled with love.

    I think it would be fair to say that I have never for two seconds given any consideration to following your lead.

    My warmest wishes for your future happiness and success, my old friend.

    Rob the Hero

  6. I am a moron says

    Oh Mr. Bennett. It is after 6:30 am your time and we haven’t heard any words of wisdom from you yet. I just can’t make it through my morning without seeing those razor sharp responses to the masses that post daily. I just hope you get back on the job immediately or the financial world will collapse around us.

  7. Rob says

    I’m working on it! I’m working on it!

    My best wishes to you, man.

    Rob the Late Sleeper


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