Set forth below is the text of a comment that I recently posted to the discussion thread for another blog entry at this site:
Who else will you be writing to if there is a crash?
I’ll write to everybody.
I’ll write to those 30,000 academic researchers again. It took me months to get those e-mails out. I received 150 responses. That’s a response rate of 0.5 percent. Most of the responses were amazing stuff, including the ones that made the case for Buy-and-Hold. How much do you want to bet that the response rate at least doubles following another crash? It’s surely my belief that that is what we will see. A higher response rate will advance the ball, which is obviously what we need to do to get to the other side of The Big Black Mountain.
This is what I mean when I say that I love my country. We have always allowed progress in this country. We didn’t get that 6.5 percent annual real return on stocks by accident. We have that amazing return because we permit advances in every field of human endeavor. We should be permitting advances in the investing advice field, just as we do in all others. When we do, we will see this economic crisis come to an end. I believe that we will even see an easing of political tensions when people are living better and are seeing economic developments that given them more hope for a better future for everyone.
These are my sincere thoughts re these terribly important matters in any event.
Not a Financial Fraud Advocate