Set forth below is the text of a comment that I recently posted to the discussion thread for another blog entry at this site:
Rob, your awesome mind-reading powers notwithstanding, I can assure that even if the market drops to zero tomorrow, I will take Bogle’s opinion over yours. On literally any topic.
That’s emotion speaking, Anonymous.
So long as I hear so much emotion, I am not persuaded. To get me on board, you would need to be able to rein it in a bit.
I am not saying this to bug you. I acknowledge that it may be that you are right and that I am wrong. I am just stating my opinion re a topic that is relevant to the general topic of the role that investing plays in investor decision-making. I continue to believe that you just don’t know what your feelings about Bogle will be following a price crash that causes you to lose more than half your life savings and that remains in place for a number of years.
We will just have to wait and see how it all plays out. If you really do stick with Bogle after we fall to 8 or below, I hope that you will recall this conversation and bring it to my readers’ attention at that time. That would be an entirely fair thing for you to do, says the today version of me!
By the way, I think that this particular post of yours and my response to it reveals one reason why Valuation-Informed Indexing does not click with some people. We like to believe that we are in control of our own decisions, peer-reviewed research showing otherwise be darned!
I am not just saying that the “experts” in this field are wrong. I am saying that the experts are wrong because they cater to millions or investors who are wrong and who on some level of consciousness know that they are wrong and yet want to be assured that they are right. I am essentially saying that “the customer is always wrong.” Whew! That can be a tough sell.
Don’t let the bad guys get you down, my good friend.
One more thing. It’s not really “mind reading.” All that I do is to report honestly and accurately what the peer-reviewed research tells all who are open to hearing its message. The historical return data knows our minds better than we know our minds! Yikes! It all sounds kinda creepy when you think about it that way. Still, I cannot resist that 70 percent risk reduction combined with the far higher returns.
Please take good care.