Set forth below is the text of a comment that I recently posted to another blog entry at this site:
I see we’ve inflated up to five wins. Each new “win” strengthens your argument – is that how it works?
There are five real wins:
1) When I take over the Bogleheads Forum, all posters (both Valuation-Informed Indexers and Buy-and-Holders) will feel safe posting their honest views. That provides a great learning experience for every one of us;
2) Once we open up the internet to honest posting, we can bring the economic crisis to an end. A 65 percent price crash is going to hurt a lot. But that 65 percent crash is optional. It is crazy for investors to value stocks at one-half of their fair value. We should tell people the truth about what the last 33 years of peer-reviewed research says. Then it would be impossible for the P/E10 level ever to drop much below 15. We would still suffer a price drop. But not anything near as devastating as what we will see if the Ban on Honest Posting remains in place;
3) The prison sentences for those who have put up posts in “defense” of Mel Linduaer and John Greaney are obviously going to be shorter if they come clean prior to the crash. It is the extent of the anger felt by the millions of middle-class people who are seeing their financial futures destroyed that will determine the length of the prison sentences. People are obviously going to be a lot less angry if we avoid a big price crash;
4) The Wall Street Con Men make out a LOT better if we permit honest posting. They want to sell stocks. That’s how they make money. The last 33 years of peer-reviewed research is the biggest boon to those trying to sell stocks ever seen. We can now tell people how to reduce the risk of stock investing by nearly 70 percent. The biggest objection people have to buying stocks is the risk and we can pretty much eliminate it! That’s huge.
5) Bloggers benefit big time if we open the internet to honest posting. There are huge opportunities to write articles on the 33 years of research that we so far have not been permitted to discuss and to develop accurate calculators and on and on and on. We will be seeing many millionaires made because of these huge advances. That’s a good thing, no?
It’s a win/win/win/win/win.
If anything, I undersold it. If I spent some time on this, I am confident that I could ADD some wins to the count. Perhaps it is an 8-win thing or a 12-win thing. It’s a five-win thing at a minimum!
This is truly good stuff, truly exciting stuff.
That’s my sincere take, in any event.