I’ve posted Entry #295 to my weekly Valuation-Informed Indexing column at the Value Walk site. It’s called Buy-and-Holders Predict Future Returns Every Day While Claiming That Predictions Don’t Work.
Juicy Excerpt: A poster at the Bogleheads Forum once stated this idea in compelling fashion: “I don’t go into a bank and say ‘I’d like to buy three certificates of deposit’ without first asking what rate of return applies — Why should it be different when I buy stocks?”
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