Set forth below is the text of a comment that I recently posted to the discussion thread for another blog entry at this site:
Typical Rob tactic of changing the subject so that he draws attention away from those times that he gets caught in a lie.
The error in the Greaney retirement study is always the topic, Anonymous.
A failed retirement is a serious life setback. The reason why we as a people study investing is to get the retirement numbers right, not to get them wrong.
The problem for the Buy-and-Holders with permitting honest posting re the Greaney study is that, if they get the retirement numbers wrong, they get everything wrong. So even discussion of the error made in the study cannot be permitted. Even the possibility that the Buy-and-Holders could have gotten something so important so wrong cannot be entertained.
So we now have a situation on the internet in which the only thing that cannot be discussed is the last 38 years of peer-reviewed research in the investment advice field. I don’t think that that’s a viable long-term reality. The thing that Buy-and-Hold has going for it at the moment is that the numbers on all the stock portfolio statements are inflated. People have enjoyed the good part of a Get Rich Quick approach (easy money) but not the bad part (crushing losses). If Shiller is right (I believe that he is), we will all be experiencing the crushing losses within the next year or two or three. And then we will see enough people work up the courage to stand up to you Goons to open every site on the internet to honest posting on the peer-reviewed research.
Or so Rob Bennett sincerely believes.
I do not believe that John Greaney included a valuation adjustment in the retirement study posted at his web site. I think it is important to get the numbers in retirement studies right. I don’t think that Buy-and-Hold can survive once we begin permitting widespread discussion of the errors in the Buy-and-Hold retirement studies. And I believe that we will work up the courage to do that in the days following the next price crash. Because at that point we will see that we don’t have any other choice.
But we’ll see, you know?
Subject-Changing Rob
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