I’ve posted Entry #233 to my weekly Valuation-Informed Indexing column at the Value Walk site. It’s called Why Does Paradigm Change Have to Be So Hard?
Juicy Excerpt: Paradigm Change Cannot Be Done in Stages. It’s an all-or-nothing proposition. I often compare what we are going through in the investing realm today to what we went through in the early days of the civil rights revolution. The idea that one race of people would not be treated equally under the law was always 100 percent inconsistent with out nation’s founding principles. So why was it so hard to get the civil rights revolution off the ground? Old ways of thinking were embedded in every aspect of our daily lives: where we sent our children to school; what sorts of opportunities we had in the workplace; how we socialized; where we ate; and on and on. Not one of those things could be changed without ALL of them being changed because the old ways of going about all of these activities were all rooted in the same old paradigm.
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