Set forth below is the text of a comment that I recently posted to the discussion thread for one of my columns at the Value Walk site:
“Except that it’s not one single person.”
There is only one person (you) that is saying that all these experts are wrong and that you are right. There is one else that is saying there have been death threats (other than the threat you made). There is no one else saying that the people you call goons (as well as a number of financial experts and other board owners) are going to prison. There is no one else but you that is saying a $500 million windfall is coming your way. I think you get the picture.
Of course, you will lie and say otherwise. There are zero facts to back you up.
The question remains…….do we believe in the grand conspiracy against you as well as your fantasy world, or is it more likely that you are living a lie and fantasy.
There are things that I say today that no one else says today.
But all of the things that I say follow from my belief in the importance of Shiller’s research findings and about 20 percent of the population agrees with me re that one (I am going by what I have seen on numerous discussion boards).
Most people who agree with Shiller hold back from exploring all the implications of his ideas publicly. That’s why Valuation-Informed Indexing has only won over 20 percent of the population in 34 years. I want it to win over 100 percent of the population. So I say things in the way in which they must be said for us to get to 100 percent.
The Buy-and-Holders don’t hold anything back. I like that about them. We all need them to make their case as strongly and as clearly as possible for us to be able to learn from them and be persuaded by them. I want to see the Valuation-Informed Indexers to be just as clear and just as firm and just as bold in their framing of their message. They are not helping us all out to the extent they could if they do otherwise.
There is a continuum of opinion on every subject. There are people at both extremes and there are people in the middle. There are a lot more people in the middle. There are usually few at the extremes. I am at the extreme of pro-Valuation-Informed-Indexing opinion. That much certainly is so. I am more pro-Valuation-Informed-Indexing than Shiller himself today.
But all of my views follow from Shiller’s findings and 20 percent of the population today agrees with the thrust of what I have to say. You bring up some procedural points. People don’t like that I say those things. That’s a stone cold fact. But I believe that it is important that people say those things. It is the procedural funny business employed by the Buy-and-Holders that has been holding us back for a long time now. The Buy-and-Holders are going to continue engaging in the funny business for so long as it works for them. And it will continue working for them until we all call them out on that stuff when we see it.
It is my belief that we should have a 100 percent consensus against continued employment of the funny business. That stuff is degrading to the Buy-and-Holders, it is really anti-human. We do not have a consensus against it today. I acknowledge the reality. But I believe strongly that we have hurt ourselves by not acting together to bring that stuff to a full and complete stop.
Outside of the nasty process stuff, I am still in a minority but I am in a minority of about 20 percent of the population. And the views held by that minority are backed by 34 years of peer-reviewed research and a Nobel prize.