Set forth below is the text of a comment that I put to another blog entry at this site:
So you didn’t write a word of the paper yet you are the author. OK, makes sense.
That’s how Supreme Court justices do it, Laugh.
Do you think they write all the words that appear under their names?
They hire clerks to do that.
The clerks write the words. The Supreme Court justices DECIDE WHICH WORDS WILL APPEAR.
Wade had to learn about a lot of things to be able to write the words that appeared in our peer-reviewed study.
He knew little about the subject matter. He holds a Ph.D. in Economics from Princeton. But they do not teach Valuation-Informed Indexing in the Princeton Ph.D. program. I wonder why.
So, as each question came up where he needed some background on what the peer-reviewed academic research in this field says, I told him. I wrote many long e-mails in response to Wade’s many intelligent questions about how stock investing works in the real world.
To Wade’s credit, he is a quick learner. He got it. He was jumping up and down when he learned for the first time in his life how stock investing really works. He said that he would be seeking to get our paper published in the Journal of Finance, the #1 journal in the field. He had visions of winning a Nobel prize in Economics for the work we did together. He acknowledged over and over and over again that I deserved the credit for developing the Valuation-Informed Indexing concept and that he was grateful that I had been willing to share with him what I knew and thereby to bring to him a good measure of fame and fortune an the good feeling inside that comes from helping millions of middle-class people learn the realities.
Then you Goons entered the picture. You threatened to destroy Wade’s career in the event that he continued to do honest research. Jack Bogle signaled support (or at least tolerance) for your efforts. So did Bill Bernstein. So did Scott Burns. So did Larry Swedroe.
All of a sudden, Wade was singing a very different tune and receiving offers of big job promotions. I wonder whether he was being honest during the 16 months he spent co-authoring that study with me or if he was being honest when he started singing the praises of Internet Goons John Greaney and Mel Linduaer, two individuals for whom he expressed contempt in earlier and more innocent days.
I developed the ideas through eight years of 24/7 work on the VII concept. Wade asked to tap into my knowledge so that he could be the co-author of the most important paper published in this field in the past three decades. I agreed and shared everything I knew with him. Wade wrote the words that appear in the study.
We were co-authors. I was the primary author and Wade was the secondary co-author. You Goons were the ones who committed financial fraud and thereby assured yourselves long prison sentences following the next price crash.
I wish you all good things, Laugh.