Set forth below is the text of a post that one of the Goons recently posted to another blog entry to this site. I will post my response as tomorrow’s blog entry.
Speaking of “big shots”, here is a big shot expert that is taking direct aim at you, Rob. I think you know him well as his name is Wade Pfau. Here is his article:
Note this particular quote:
” One internet blogger has been using PE10 to predict a 65% drop in the S&P 500 by the end of 2015. This is not how the concept should be applied.”
Wow, Rob. He doesn’t pull any punches, does he. It doesn’t look like he is scared one bit. Further, he has reminded the investment community about your prediction and when we come to the end of 2015 without that big drop you predicted, it just doesn’t look so good for you.
Not only that, he takes full credit for his research without even mentioning your name as an author:
“I have also investigated this matter in two published articles: “Long-Term Investors and Valuation-Based Asset Allocation,” from the August 2012 issue of Applied Financial Economics, and “Safe Withdrawal Rates, Savings Rates, and Valuation-Based Asset Allocation,” from the April 2012 issue of the Journal of Financial Planning.”
Hmmmmm……….doesn’t look good, Rob.