Set forth below is the text of a comment that I recently posted to the Goon Central board:
Another key is acting within the limits of the statute of limitations, i.e. one year in Virginia.This is an ongoing act of financial fraud, NFS.
There have been numerous articles in big-name publications picking up on my 2002 finding that the Old School safe withdrawal rate studies get the numbers wildly wrong. That’s of course a good thing in itself. But there is an obvious oddity about every one of those articles. None of them report the number accurately. None of them (the article by Todd Tresidder was an exception) give credit to me for being the person to discover the errors and for having done it 11 years ago. None of the articles describe the death threats and board bannings and tens of thousands of acts of defamation and the threats to get academic researchers fired that have been relied on by The Buy-and-Hold Mafia to keep millions of middle-class investors from learning what they need to learn to invest effectively. Why? Because the entities who publish these articles and the journalists who report on them are afraid of what The Buy-and-Hold Mafia will do to them if they file honest and complete reports. This all comes through clearly and plainly in the Wade Pfau Matter. Wade was thrilled to learn how stock investing really works. He showed great excitement in his many e-mails to me. He said that he couldn’t understand why no one had done the research that he and I produced together. Why? Was he missing something? He checked his numbers over and over again. They really said what they said! How could this be? How could this powerhouse stuff have been ignored for all this time? He even went to the Bogleheads Forum to see if anyone there could make sense of it. No one could. No one (including Jack Bogle!) had ever heard of a single study showing that price discipline is not required when investing in stocks. The entire Buy-and-Hold “strategy” is built on sand. And there is not a sliver of evidence pointing in the other direction. But lots and lots and lots of smart people are careful not to say this in public. Because they are scared of what will happen to them if they do. They have seen how ruthless the Buy-and-Hold Mafia is. They know what is good for themselves and they keep their mouths shut. As Wade learned to do when you Goons threatened to send defamatory e-mails to his employer with the aim of getting him fired from his job and my good friend Jack Bogle raised not a peep of protest about it. That’s fraud, NFS. Anyone who participates in it is part of the fraud. And anyone who fails to speak when he sees the fraud play out in front of him is part of the cover-up of the fraud The fraud is ongoing. The statute of limitations will not begin to run until Jack gives his “I Was Wrong” speech and it is reported on the front page of the New York Times. I will be sure to get the papers filed within 12 months of that day. The full truth is that I am not going to need to file papers. Once Jack gives his speech and it is written up on the front page of the New York Times, we will all be working together to keep our economy from falling into the Second Great Depression. Every one of the people involved in the fraud wants to come clean and to be able to do honest work again. Once one big name makes the jump, all the others will follow within days. I doubt that I am going to need to file legal papers to get the money that I earned with my work of the past 11 years. These things can be handled easily once the will to handle them is present. We’ll see. But I am not expecting to have to file papers. And, in the unlikely event that I am forced to file papers, I can assure you that I will file them within 12 months of Jack’s big speech. I wish you all good things, old friend. Rob |
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