Set forth below is the text of a comment that I recently posted to the discussion thread for another blog entry at this site:
If you say Wade is a liar, then nothing he says is reliable. Therefore, you should no longer refer to his work.
We do not agree, Anonymous. Wade is a Hero of the First Order in my book. He called Lindauer out on his abusive garbage at the Bogleheads Forum, with all his Goons in the room. I have never seen anyone else except yours truly do that. I don’t forget things like that. Wade went to bat for the American people in a big, big way. He knew he was putting his career on the line when he did that and he went ahead and did it anyway.
I don’t rank Wade quite as high as Shiller and Bogle. But I rank him very high. He helped us all out in a huge way. And he will get credit for his many positive contributions in days to come, if I have anything to say about it. I will testify that he put his neck on the line for all of us when no one else around had the guts to do so. It will be easy in the days following the next crash to say that Buy-and-Hold is a big pile of smelly garbage. It wasn’t such an easy thing to do back in the days when Wade was doing it.
The stuff that Wade said in the days before he flipped is HIGHLY reliable, in my book. It’s some of the best stuff out there, in my assessment. Please mark me down as saying that Wade Pfau was one of the most highly reliable figures in the field of investing until threats were made to destroy his career and he became worried that if he continued doing honest work in this field he would no longer be able to provide for his family. I don’t think Wade did the right thing when he flipped. But I am highly sympathetic to a man who does the wrong thing because he loves his family and he can see no other way out of a tight spot.
As always, this is my sincere take re these terribly important matters.
My best and warmest wishes to you.