Set forth below is the text of a comment that I recently posted to another blog entry at this site:
Did you even bother to read the article? With your drastically reduced activity, it seems like you’d have plenty of time to keep up on your reading. Anyway, your old buddy Wade states quite emphatically that 4% is not safe. What more of a “correction” do you require?
Wade said that the Old School studies were in error YEARS AGO, X. He wrote to the authors of the Trinity study asking that they correct their study. That’s when you Goons threatened to get him fired from his job if he did not ditch the honest posting routine. AND BOGLE BACKED YOU UP.
That’s why you are going to prison. You get that, right?
I don’t WANT to go to prison. So I am posting honestly.
I said above what sort of correction I require. I require the sort of correction we see in every field of human endeavor other than in the investing advice field. We need to see the studies corrected. We need to see accurate studies promoted. We need to go back and study how we got this one so terribly wrong and determine what we need to do to make sure that nothing like this ever happens again. We need to see that damages are paid to the millions of people who were taken in by the garbage studies. We need to decide how long the prison sentences should be for those who have put up posts in “defense” of Mel Linduaer and John Greaney and Jack Bogle. We need to make settlement payments to those who tried to solve the problem by posting honestly and who were targeted by the Buy-and-Hold Mafia as a result. We need to send a message to all academic researchers in this field that the Buy-and-Hold Mafia is no longer running the show and that, starting here, starting now, we want to encourage all researchers in the investing advice field to do HONEST work.
Does that help?
Going to prison is not on my bucket list. I have zero desire to participate in this massive act of financial fraud. I told Wade when he signed up with you Goons that he was “insane” to do so. I think it would be fair to say that it would be equally insane for me to do so today.
Of course the studies are in error. Everyone who bothered to take five minutes to check the Greaney study to see whether it contained an adjustment for the valuation level that applied on the day the retirement began knew that back on the morning of May 13, 2002. Now we need to get the legal matters taken care of so that we can all begin enjoying the benefits of being the luckiest generation of investors ever to talk Planet Earth. We need to get your prison sentence announced so that the millions of us who very, very much need to know how stock investing works according to the last 33 years of peer-reviewed research can get about the business of talking about this subject in honest and accurate and research-based ways.
Does all of that make good sense to you, X?