Valuation-Informed Indexing #423: Turf Wars Affect the Investment Advice Field As They Do All Others

I’ve posted Entry #423 to my weekly Valuation-Informed Indexing column at the Value Walk site. It’s called Turf Wars Affect the Investment Advice Field As They Do All Others.

Juicy Excerpt: Advocates of a discredited strategy aren’t willing to make way for the new one just because there is 37 years of peer-reviewed research supporting it. Rob Arnott told me: “I’ve had similar experiences to those you describe. My work has often triggered overt hostility from guardians of the status quo. I’ve also had difficulties getting some of my more controversial articles published. And the journals that published some of my more controversial papers got hate mail.” He added that several researchers who wanted to do research on his ideas about how stock investing works were taken aside by colleagues and told that preparing such research might prove to be a career-limiting move. Turf wars!