Set forth below is the text of a comment that I recently posted to the discussion thread for another blog entry at this site:
“Things will change when prices drop by 50 percent or more.”
Yes, you keep saying that. You just don’t say how. Only that your plan is to sit and wait for the crash, and see what happens. No other effort required on your part.
(whisper) “If you type it, they will come…”
When the price changes, the emotion changes.
The appeal of Buy-and-Hold is 100 percent emotional. There is no intellectual content to it. Not since 1981. But there is HUGE emotional appeal. The emotional appeal is that Buy-and-Holders tell people that their retirement accounts are worth two times what the last 36 years of peer-reviewed research says they are worth. It’s like when Taylor Larimore would talk about a house that he owned as “The House That Jack Built.” There are millions of people today who look at their retirement portfolios and are grateful for the gains that came from following Buy-and-Hold strategies.
That all goes away when prices fall by 50 percent or more. When the only appeal a strategy possesses is emotional, the strategy is in trouble when the emotional appeal goes away. People don’t like Get Rich Quick strategies when they fail. They just don’t.
I don’t want to wait. I want to teach millions of people about what the last 36 years of peer-reviewed research teaches us starting today. But I cannot overcome death threats and demands for unjustified board bannings and thousands of acts of defamation and threats to get academic researchers fired from their jobs. No one in any field could overcome the stuff that you Goons put out. But how much longer do you think your criminally abusive garbage is going to be tolerated once prices have fallen by 50 percent. I would bet that it will not be too long, you know.
Live by emotion, die by emotion. The way it is. The benefit of going with a research-based strategy is that it works for the long term. I like being associated with something that is real, something that will stand the test of time.
Does all of that not sound at least roughly right?
Rob”
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