I’ve posted Entry #39 to my weekly Investing: The New Rules column at the Death by 1,000 Papercuts site. It’s called The Grown-Up Version of X-Ray Specs.
Juicy Excerpt: With Buy-and-Hold, you can buy stocks at any price no matter how insane and it always works out. And you can see through walls! John Bogle said so. He said there’s a study. This is science. It’s the real thing!
It’s X-Ray Specs for grownups. We all know it’s not going to work. And we put our money down anyway. It would be so cool if it really could work that way that we cannot stand the thought of missing out on the action in the event that this long shot pulls though.
The reason why people get so upset over what I say about investing is that everything I say is so obviously true that no sane person can deny it. But lots of sane people very, very, very much want to deny it. Lots of people want to be able to spend a buck and then be able to see through walls (and also — well, you know) and I am messing up their fantasy with this annoying historical data kick of mine.
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