Set forth below is the text of a comment that I recently put to another blog entry at this site:
We can see the same people you refer to have given thoughtful consideration to almost every other financial topic discussed. It is the intelligence and experience that compels them to challenge assumptions and give opinions based on all the data available.
I certainly agree with all of these words, Questions.
The only way to even agree with your assertion is to see a prior pattern for each and every one of these people to neglect available data and to form opinions that are contrary to the facts. We have no evidence of this case.
I don’t agree with these words.
You are saying that we can never conclude that someone has made a mistake in one area unless he has a long history of making a mistake in every area he takes up. No.
The Buy-and-Holders are plenty smart. And they are hard working and good people.But they made a mistake. Now they need to fix it.
The problem is that the mistake has been so costly that it has caused the Buy-and-Holders to feel great shame. So they have become defensive.
We need to help them get over their defensiveness. We don’t do this by covering up the mistake. That makes things worse. We need to put the Buy-and-Holders on the hot seat, we need to INSIST that they give direct answers to direct questions. We need to DEMAND that the entire internet be opened to honest posting on safe withdrawal rates and scores of other critically important investment-related topics. We need to point out to all our friends and neighbors and co-workers and fellow community members that the Buy-and-Holders have been engaging in death threats and board bannings and tens of thousands of acts of defamation and threats to get academic researchers fired from their jobs as part of their effort to keep the 11-year cover-up going. Those participating in the cover-up have committed multiple felonies and will be going to prison following the next price crash. We should want those prison sentences to be as short as possible. That means doing all we can to bring the cover-up to a close by the close of business today.
Rob the Sensible