An earlier blog entry described the the background of some recent e-mail correspondence between Michael Kitces and I on safe withdrawal rates (SWRs). Set forth below is the text of an e-mail that Michael sent my way on the afternoon of August 21.
Michael:
Thanks for another fine e-mail response.
The words that jump out at me are: “I most definitely do NOT view the existing body of research on SWRs as the final conclusion. It is a body of research that is still developing and evolving.”
That is the single most important point made in any of the e-mails. You and I do not agree on everything and there is no reason why we should be expected to. And lots of others do not agree precisely with either you or me. There’s room for all sorts of viewpoints on all sorts of questions. So long as people are hearing new ideas, things will in time work themselves out. There will never be universal agreement and it would not be a good sign if there were. What we need to see is for all investors to be exposed to a broader range of viewpoints than they have been exposed to in the past.
Do you have any thoughts as to how to get these ideas out before a wider readership?
Rob
The words that jump out at me are: “I most definitely do NOT view the existing body of research on SWRs as the final conclusion. It is a body of research that is still developing and evolving.”
Those are powerful words.
My own experience is that new questions pop up just about every week or so.
Have fun.
John Walter Russell
new questions pop up just about every week or so.
Yes!
In the investing realm, so much human energy is devoted to the project of blocking out learning experiences. To what purpose?
If only people did not feel threatened by the idea of participating in learning experiences, there is so much out there available to us to be learned.
As you recommend in the signature line of your posts, people could choose to “Have Fun!” rather than participate in all sorts of time-wasting nonsense (and worse).
Rob