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:
You spend all of your time giving your opinions on what you see as other people’s “mistakes”, but you have yet to spend one minute on your mistakes that led to your retirement and financial failure. When are you going to address that? Certainly, you don’t want people to follow your example.
I once believed in Buy-and-Hold, Sammy. So I know how it is for people struggling to figure things out today. Looking back, I had doubts about certain aspects of it. I silenced those. I didn’t want to focus on the doubts. It was easier and more comforting to continue to believe.
So we are as a society working through a process that in time will take us to all the wonderful stuff waiting on the other side. I certainly don’t say that most Buy-and-Holders behave as you do. That is certainly not the case. But most do tolerate the behavior that they see play out before them. That’s the real issue here. As a society we need to work up the courage to insist on the same standards of behavior that apply in all other fields. Once we do that, good things start to happen and over time we get to a very good place.
It’s happening gradually. That’s all I can tell you. Even your own comments have changed in certain ways. They are still not pleasant. They are still not life-affirming. But if people took the words of your posts from five years ago and compared them to the words of your posts today, they would be able to identify important differences in tone and content. There’s a softening of tone in evidence. And that’s true with all of us.
Those are my sincere thoughts. I wish you all good things. Deep down inside we all want the same things. We all want to know how stock investing really works. We all want our retirement plans to succeed. That unity of core purpose will eventually help us all to get to a very good place. I am 100 percent sure of that much.
My best wishes to you.