Set forth below is the text of a comment that I recently put to another blog entry at this site:
Yes, those attacks, like threats of jail time and lawsuits, are really disturbing and should not be tolerated.
If I could wave a magic wand in the air and make the lawsuits go away, I would do it, Pink. It is not in my power to do this thing.
I care about you Goons. But you Goons are not the only ones I care about.
I also care about the millions of middle-class investors whose lives you have destroyed.
You need to think about what we are going to do about those people.
I can tell you the smart thing to do.
The smart thing is to focus on the positive. The research that I did with Wade shows us how to reduce the risk of stock investing by 70 percent. That’s the biggest advance in the history of personal finance. That changes capitalism in a fundamental way.
Everyone benefits. Women and men. Black and white. Republicans and Democrats. Old and young. Buy-and-Holders and Valuation-Informed Indexers.
It is advances of that nature that have made our nation the envy of the world for many years. It is advances of that nature that pull us all together and make us all happy and proud to be Americans.
The longer we delay telling the millions of middle-class investors whose lives have been destroyed about this advance, the better off we are all are. Every single one of us.
I have been saying over and over and over again for 11 years now that we should be sharing what we have learned together with everyone, that we should be working to get this all written up on the front-page of the New York Times.
How much help have you offered me?
How much help has Bogle offered?
Or Bernstein? Or Swedroe? Or Ferri?
This is not a one-man job. The Stock-Selling Industry has spent hundreds of millions promoting Buy-and-Hold. I need a few hundred million working things from the other side of the table.
Do I care whether you go to prison or not if we get the word out on the first truly research-based investing strategy?
Why the heck would I care? It’s a trivial matter to me. If you want a piece of paper with my name on it recommending against prison sentences, I will sign it.
But do you think that’s going to do the trick?
That’s the rub.
I don’t believe that there are any words that I can say that will do the trick at this point in the proceedings.
If you have something that you want me to say, I will say it. But I will not make false promises to you. That would be cruel. I have to say what I believe. There’s no other way to play it.
I am certain re one point. Whatever prison sentence we are talking about today, we are talking about a much longer prison sentence if this all comes out following the next price crash, when we will be in the Second Great Depression.
My focus is avoiding that scenario. My job is to pull us all together before that happens. My job is to REDUCE your prison sentence to the greatest extent possible.
What have you done to make it happen?
Anything at all?
Don’t complain to me when I am doing all the work to make things turn out as good as possible for every single person involved and you are doing nothing.
My warmest wishes to you, old friend.
Rob, the Fellow Trying to Pull Everyone Together So That We Avoid the Tragedy of Going Into the Second Great Depression (and Getting Precious Little Help From the Goon Community)