Set forth below is the text of a comment that I recently posted to the discussion thread for another blog entry at this site:
Can you show anyone with a successful VII outcome?
What I can show you is 36 years of peer-reviewed research, Anonymous.
That’s enough for me. It’s up to you whether that is enough for you or not, it’s not up to me to decide for you. But it is up to me to decide for me. I have decided that it’s enough for me.
The problem is not that you and I have come to different conclusions as to what is enough. That’s normal. That’s what you should expect to see. In any community, there are going to be different positions taken on different issues. It’s a 100 percent healthy thing that that be the case.
The problem is that you are using abusive tactics to decide for others. You are saying “no one is going to get to hear what Rob Bennett has to say because I have decided that what he is saying is not enough for me.” No. That’s over the line. That is not acceptable.
If no one speaks up about your abusive tactics (and the abusive tactics of other Buy-and-Holders — you obviously are not the only one causing a problem re this matter), then we will never be able to point to millions of people using Valuation-Informed Indexing successfully because no one will ever know about Valuation-Informed Indexing. For us to see successful VII outcomes, we are going to need to start talking about VII at every investing board and blog on the internet. That’s how it is done. You tell people about what the research says (or, if you want to stare things more diplomatically, what you BELIEVE the research says) and then those people ask questions to firm up their understanding, and then those people try out Valuation-Informed Indexing, and then over time you have reports of successful VII outcomes, more and more and more of them as time passes.
We cannot get to the successful outcomes until we permit people who believe in Valuation-Informed Indexing to post honestly. That’s the very first step in the process that must be followed if we are ever to have reports of lots and lots of successful VII outcomes. I am trying to get the process started. I am refusing to post dishonestly because I believe that it is my right to post honestly and because I believe it is my responsibility to the community to post honestly. You are demanding something of me that I obviously cannot deliver until the possibility of honest posting is opened up and at the same time you are refusing to permit the possibility of honest posting. It doesn’t add up.
I am 100 percent confident that we will in time see millions of cases of successful VII outcomes. But I continue to insist that my right to post honestly be recognized because THAT IS HOW IT IS DONE.
I didn’t cause any of this problem. I was a Buy-and-Holder myself on the morning of May 13, 2002. I gave up on Buy-and-Hold on the evening of August 27, 2002, when Greaney put forward his first death threat and 200 Buy-and-Holders endorsed it (in fairness, there were 50 others — presumably some Buy-and-Holders and some Valuation-Informed Indexers — who spoke out in opposition to the death threat). If I could turn back the clock to 1981, so that we could all begin posting honestly 36 years ago, I would do it and I am 100 percent certain that Jack Bogle and all of my other Buy-and-Hold friends would participate in the process that would have led us to a place where we would have millions of successful VII outcomes today. But I of course do not have the ability to turn back the clock.
The best that we can do today is to work together to open up every investing board and blog on the internet to honest posting starting at the close of business today. That’s what I propose. I think it would be fair to say that, if we take that path, we will all look back someday to today as a Second Independence Day for the people of the United States. The last 36 years of peer-reviewed research is the most exciting 36 years of peer-reviewed research in the history of the United States. It is truly exciting and liberating stuff. We all should be exploring the far-reaching implications of Shiller’s amazing research findings on a daily basis.
That’s my sincere take re these terribly important matters in any event.
I naturally wish you the best of luck in all your future life endeavors, my good friend.