Set forth below is the text of a comment that I recently posted to another blog entry at this site:
If you continue this pattern of hate and anger, you will spend your remaining years in misery. Instead, find something of real value to do with you life versus this fantasy you have with “goons”.
I obviously feel otherwise, Anonymous.
We are the luckiest generation of investors ever to walk Planet Earth. No earlier generation has had 33 years of peer-reviewed research available to them showing them how to reduce the risk of stock investing by 70 percent while also increasing their returns enough to permit them to retire five to ten years sooner. That’s exciting stuff.
You Goons are the only thing standing in our way.
Wade Pfau is not the only academic researcher who would like to be free to do honest work. There are THOUSANDS of academic researchers who would like to be spending their life energies helping us all out. That was their dream when they began their Ph.D. work. That was the driver behind their years of hard study. When ONE academic researcher is freed to do honest work, ALL academic researchers are freed to do honest work. I cannot wait to see what these guys and gals come up with!
It’s the same story with the Wall Street Con Men. They would LOVE to be doing real, honest, important work.
Why the heck do you think Jack Bogle included language in his book showing me that the numbers in the Old School safe-withdrawal-rate studies are wildly off the mark?
Why the heck do you think Bill Bernstein devoted an entire chapter of his book to honest reporting on what the last 33 years of peer-reviewed research tells us while obviously being very, very aware of just how ruthlessly he would be attacked by his peers if he was perceived as having gone “too far” by including an entire chapter of honest reporting rather than just a few paragraphs here and there, as is the usual custom among the “experts” of today?
Why the heck do you think Larry Swedroe was honest enough in his postings at the Bogleheads Forum to bring on Mel Lindauer’s ire and get himself banned from the forum for a time?
Why the heck do you think that the Wall Street Journal took the risk of publishing an honest column pointing out that the Buy-and-Holders have been “telling only half the story” for all these years and telling sick and twisted Get Rich Quick lies about the other half?
We have learned something important during the Buy-and-Hold years, Anonymous. We have learned that millions of middle-class investors are VERY interested in knowing what the peer-reviewed research says. It’s the claim that the Buy-and-Holders make (falsely, but still…) that their strategy is rooted in peer-reviwed research that made it so popular in the first place. All that I am saying is that we now need to take it to the next step. I think it would be fair to say that lying about what the research says has not been working out so great in recent years. Why not take the idea of rooting one’s strategies in the peer-reviewed research to the next step? Why not permit HONEST AND ACCURATE reporting of what the research says? I think that would make a big difference. I think that would be a big positive.
We have seen that 80 percent of all of our communities like the idea of permitting honest posting. Why not give them what they want? It would not only help the millions of middle-class investors whose lives have been destroyed by the reckless and relentless and ruthless promotion of the Buy-and-Hold garbage. it would allow us to recover from this economic crisis and thereby put millions of middle-class people in a mood in which they might be willing to reduce the prison sentences assigned to you Goons a bit. Is that not so? Is that idea not more than a little bit appealing to you, Anonymous? Tell the truth.
We need to overcome you Goons.
There’s not getting around it.
We have the tools that we need available to us. Every site has rules prohibiting the tactics that you have employed to block millions of people from learning what the peer-reviewed research says. We have adopted laws making financial fraud a felony, which means prison time for those found guilty of it. Why not enforce those site rules and U.S. laws for the benefit of everyone involved? My feeble brain is not even able to imagine any downside. Has your far superior Goon brain ever been able to come up with anything?
I believe that it is all going to flip following the next crash, Anonymous. If you want to experience a taste of what that is going to mean for you Goons, I urge you to enter the word “Phillies” into a search engine and then what the fans say about the general manager of the club today compared to what they were saying a few years back. It’s a thin line between love and hate, my old friend. Pushing Get Rich Quick garbage makes you the toast of the town for so long as the Get Rich Quick garbage appears to be paying off. When the debt comes due, it’s a very, very, very different story.
We are as a nation of the verge of the biggest breakthrough in our understanding of how stock investing works ever attained in our history. I view that as a super cool reality. I am proud to be playing a big part in bringing it about.
I wish you all the best things that this life has to offer a person, my long-time abusive posting friend.