Set forth below is the text of a comment that I recently put to another blog entry at this site:
|would you like to run down your tangible accomplishments for the year? (Other than finally getting tossed from Goon Central.)
1) The presentation I gave at FinCon13. I thought I did a super job of summarizing 11 years of discussions in a five-minute presentation.
2) Improvements at the web site. That’s boring stuff. But I was forced to spend a good bit of time on that boring stuff this year.
3) The 52 entries for my weekly Valuation-Informed Indexing column. There are amazing insights advanced in that column on a regular basis that I believe will be the subject of sustained study for many years following the next crash.
4) The tens of thousands of e-mails that I sent out re the Wade Pfau matter and the reactions that I received from big-name experts. My most important job following the next crash is going to be pulling us all together. When people are able to see how academic researchers and other big names responded to the sorts of behavior we saw in the Wade Pfau matter, they will understand what we were up against. That’s how we resolve all the frictions. We need to do just the opposite of what we have been doing. We need to stop covering up and instead make a sustained and united effort to get as much as possible out into the open. Love is the answer. And it is through understanding where the other fellow is coming from that we come to feel love for the other fellow.
5) Getting tossed from Goon Central was a pretty darn big accomplishment. You try to rule that out of consideration here but I reject the ruling. The thing that finally got me thrown off is that I focused in on the personal consequences that are going to be experienced by you Goons in coming years — the financial liabilities and the prison sentences. That’s good stuff. The big problem that we have had for 32 years now is that those who give investing advice benefit from going with a pure Get Rich Quick approach while those who employ the investing advice in their retirement planning benefit from hearing true research-based strategies. We have a problem of incentives. There are huge incentives for going GRQ and huge penalties for going research-based. We need to turn that around. Bringing civil suits for damages and announcing prison terms for those who have posted in “defense” of Mel Lindauer and John Greaney is an important step in the right direction. I believe that the day that the prison sentences are announced for you Goons is the day we will be able to unite everyone in the United States in an effort to rebuild our broken economy. I very much look forward to that (while I also of course intend to continue doing all I can to keep your prison sentences as short as possible and to have as few people as possible going to prison for committing acts of financial fraud re this matter).
It looks like a pretty darn good year when you take a step back and look at all we have accomplished together.