Set forth below is the text of a comment that I recently put to another blog entry at this site:
“I intend to take over control of the Bogleheads Forum and set it up here as a sub-domain.”
The owners of the Bogleheads forum will not sell or give you the forum.
They are not going to give it to me today, Evidence. I think that much is more than fair to say.
I am talking about after the next crash. The next crash changes things.
You have to come to an understanding of some basic realities to figure out where things are headed.
I do not believe that the current owners of the Bogleheads Forum are bad people. And I certainly do not think that they are dumb people. I think that they are smart and good people. Okay? That’s my core premise. Everything else I say follows from that belief.
I believe that the owners of the Bogleheads Forum are wrong about the need for price discipline (long-term timing) when buying stocks. Smart and good people sometimes get things wrong, no? That’s what I believe has happened here.
Those smart and good people suspect that they may be wrong re price discipline (long-term timing). They are not sure that they are wrong. In fact, they still follow Buy-and-Hold strategies themselves. So I think it would be fair to say that they think it more likely than not that following Buy-and-Hold strategies will produce good long-term results. They are sincere in their advocacy of Buy-and-Hold. But they are not without inner doubts. That’s why we have seen so much friction. Their doubts trouble them. They very, very much want to silence those doubts. And this Rob Bennett fellow won’t shut the heck up about them. That’s why they are not so crazy in love with this Rob Bennett fellow at this particular moment in time.
What happens after the crash?
After the crash, the floodgates open. People will give up their feelings of embarrassment and shame and become determined to get things back on the right track. It won’t just be the Valuation-Informed Indexers who will do that. It will be the Buy-and-Holders doing that too. We are all on the same side. We are all in this together. We all need to know the realities of stock investing. After we experience the next crash, we are going to see that. Everything is going to change. The Buy-and-Holders did not intend to cause the Second Great Depression and, when they see that that is where we are headed, they are going to change their behavior in whatever ways are required to pull us back to a good place.
At that point the owners of the Bogleheads Forum are not going to be resisting my efforts to take over the forum. They are going to be encouraging them. They are going to be asking me to take over the forum. We are going to be friends. We are all in this together. We all want the same things. There is no reason why we shouldn’t be friends. It makes no sense to play it any other way.
I say that I am going to take over the forum because I am trying to help.
Say that we open every investing board and blog on the internet to honest posting following the crash. That’s going to be a huge step. But we are not instantly going to know the answer to every possible question. There are questions that I have not been able to answer in these 13 years. There are almost without a doubt things that I have gotten wrong. There are questions that have not even occurred to me. We are going to need to be exploring all those questions.
The Valuation-Informed Indexers cannot do the job alone. We need the Buy-and-Holders helping us out. The Buy-and-Holders have different beliefs and different life experiences. We need to add those to the mix to make sense of things. I am uniquely qualified to run a board that permits and encourages honest posting from both sides. I have been arguing for 13 years that the Valuation-Informed Indexers must be permitted to post honestly. But I have for that entire time-period also made a point that the Buy-and-Holders must be permitted and encouraged to post their honest views. I am the only one who can say that, Evidence. It’s not my intent to brag. I am just explaining where things stand re this matter.
When we are speaking as friends, we will be able to talk about all sorts of questions in a very different spirit. It could be that we will all participate in a discussion in which it would become evident that I am not the best person to run the board. Perhaps I will be too busy with other things or something. If that happens, we will make a different decision. Good for us! We will do what we think is right. What else can we do?
The point that I am making when I say that it is my intent to take over the Bogleheads Forum is that I think that the board community there must be permitted to work its will. The board community has made clear on numerous occasions that it wants honest posting to be permitted. It is an act of financial fraud for the current owners to reject that 100 percent proper demand. When honest posting is banned, the board becomes a corrupt enterprise. That must change. That will change. That’s the point.
Once the owners of that board committed financial fraud, they set a trap for themselves that they cannot escape. I have been trying to help them out to the extent that they can be helped. I will continue to do that. I cannot force them to help themselves. If they are bound and determined to completely destroy themselves, I guess we are going to see them completely destroy themselves.
But you are never going to see me endorse their acts of self-destruction. I want to help in any way that I can. I want to help the owners of the board. And I want to help the board community to which they have done so much harm. That’s where I am coming from and that’s why I have formed an intent to take over that board following the next price crash. When I take over operation of the Bogleheads Forum, I help every single person involved. I naturally want to do that. So I intend to pursue that goal with a good bit of determination.
I hope that helps you to understand things a little bit better.
I naturally wish you all the good things that this life has to offer a person.