Set forth below is the text of a comment that I recently posted to another blog entry at this site:
Did you ever stop to think that these questions are posed as a way of watching you make a fool of yourself?
I certainly don’t put it past you Goons to do something like that, Douche. It would be consistent with other behavior I have seen from you for you for you to do something like that.
I cannot control that, can I?
If it were up to me, there would be no Goons. Or, if there were Goons, the owner of every investing site on the internet would honor the published promises he made to protect those of us using the boards and blogs for good purposes from you Goons.
Every site owner has not honored their promises. Perhaps you’ve noticed.
We are the luckiest generation of investors who ever lived. We are the first to know how to reduce the risk of stock investing by 70 percent. We are on the one-yard line. We have 33 years of peer-reviewed academic research showing us how stock investing works in the real world. We have this wonderful internet technology that permits us to spread the word far and wide. We have seen over and over again that a good percentage of the middle-class population LONGS to hear honest and accurate investing advice for the first time. There are hundreds of blog owners and publishers and practitioners who stand to make millions by spreading this information. Things couldn’t be better.
Except for one thing — You Goons mess it up every time we get a fire going. People feel afraid of individuals who resort to threats of physical violence when others report honestly on what the peer-reviewed academic research in this field says. The Wall Street Con Men back you up and people worry that the Con Men will use their power and money and influence to destroy them. People feel ashamed and sickened to see human beings sink so low. They flee communities that don’t take prompt action to remove you from the premises rather than sticking around to defend the community by insisting on reasonable enforcement of the published posting rules.
I cannot change all that, Douche. Not by myself. I can speak out against it. But if the site owners don’t back me up, your intimidation tactics achieve their goal. If my fellow community members don’t speak up in strong and firm and uncompromising language, a lot of the site owners don’t feel compelled to honor their promises. They stand to make money by pushing the Get Rich Quick garbage just as the Wall Street Con Men do, afterall. Not as much. But the basic behavior driver is the same.
So I need to get you Goons sent to prison. When you are sent to prison, the story is going to go viral. I am sure. When the story goes viral, people will be curious about the substantive issues that caused people to be willing to risk prison sentences just to silence those seeking to let people know about the findings of the last 33 years of peer-reviewed research in this field. That will be the end of Buy-and-Hold. There have been a lot of people who have converted from Buy-and-Hold to Valuation-Informed Indexing. I think it would be safe to say that no one has ever converted back. Once we open the internet to honest posting on safe withdrawal rates and scores of other investment-related topics, I think it would be safe to say that within a year or so there will be no more Buy-and-Hold. We will have pulled together as a community to bury that Get Rich Quick garbage 30 feet in the ground, where it can do no further harm to humans and other living things.
The laws against financial fraud were adopted for a good reason, Douche. We need to pull together as a society and enforce them and then move on to a much brighter financial future than any of us ever imagined possible back in the Buy-and-Hold Era.