Set forth below is the text of a comment that I recently posted to another blog entry at this site:
Not considering a variable in a study is not fraud and doesn’t require an immediate or any update.
If I publish a study showing a link between smoking and cancer but fail to account for family history it may be a less than perfect study but I am in no way required to amend that study.
You are welcome to post your own finding and highlight how the current study is insufficient. It seems like you have already done this Rob and now people are free to review everything available. That is how it works old studies aren’t updated new research is done on top of previous research and if it hold enough merit it just usurps the old as the gold standard. Maybe people aren’t willing to accept they need to consider Rob Bennett’s way of valuing stock and only Rob’s valuation when deciding on a safe withdrawal rate. Not including this very esoteric valuation metric from an internet troll into your study is not fraud.
If Greaney didn’t think it was fraud to lie about the numbers that people use to plan their retirements, he never would have threatened to kill my wife and children if I didn’t agree to stop reporting the accurate numbers. Give me a friggin’ break.
And if Bogle didn’t think it was fraud to continue telling people that the peer-reviewed research supports Buy-and-Hold 33 years after the research that once was thought to do that was discredited, he never would have gotten involved in the threats to get Academic Researcher Wade Pfau fired from his job unless he agreed to stop publishing honest research. Again, give me a friggin’ break.
I’m telling, Anonymous.
That’s the bottom line.
I’m telling the millions of people who will see a large portion of their retirement money disappear following the next price crash who did it to them. And I am going to help them organize and file lawsuits and get prosecutors to file criminal cases and all the rest.
That’s how our system works. There are always going to be some low-lifes who are going to be tempted to exploit human weaknesses for their personal profit. Fortunately, we were smart enough as a society to enact laws making financial fraud a felony. The announcement of your prison sentence will go viral. From that day forward, the rest of us will be learning about the first true research-based strategy, the strategy that lets us all reduce the risk of stock investing by 70 percent.
If you don’t think it is fraud to lie about the numbers that people use to plan their retirements, tell it to the jury, my old friend. It’s your jury that holds your fate in their hands. It’s your jury that you need to convince.
I want nothing to do with felonies and juries and prison sentences. It is my intent to continue to post honestly re safe withdrawal rates and scores of other critically important investment-related topics.
We’ll meet on the other side of the river following the next price crash and compare notes as to who has fell and as to who has been left behind. Fair enough, my long-time abusive posting friend?