Set forth below is the text of a comment that I recently posted to the discussion thread for another blog entry at this site:
I have read his books. He does not recommend VII. If you read your last post, you now confirm that he said you made an error with respect to John Greaney .
Wade Pfau loves Valuation-Informed Indexing. He spent 16 months researching it. He concluded that: “Yes, Virginia, Valuation-Informed Indexing works!” He told me that he was thinking about submitting the peer-reviewed research that we co-authored to the most prestigious journal in the field. Wade believes that Buy-and-Hold is the past and that Valuation-Informed Indexing is the future. There is nothing that would make him happier than seeing you Goons placed in prison cells, where you belong, so that he and hundreds of other academic researchers would feel free to do honest work on what the last 38 years of peer-reviewed research in this field teaches us all about how stock investing works in the real world.
Nothing that Wade said after you Goons threatened to send defamatory e-mails to his employer in an effort to get him fired from his job count for a thing. Extortion is a crime, a felony. There is a good reason why we elected as a people to make extortion a crime punishable with a prison sentence. We need to see our laws enforced in a reasonable manner. I am 100 percent confident that we will see those laws enforced in the days following the next price crash.
Wade Pfau was a hero in the days before you Goons threatened to destroy his career. The research that I co-authored with him is the most important research published in this field in the past 30 years. We intended for that research to benefit millions of people. Wade would still like to see that happen. But he is naturally afraid of what the Buy-and-Holders will do to him is he dares to “cross” them again by saying publicly what he truly believes about stock investing. He shouldn’t have to live in fear. No one should. The fact that a good number of Buy-and-Holders believe that the only way to “defend” their strategy is to engage in criminal behavior tells us all something important about the “strategy.” I myself was a Buy-and-Holder until I saw John Greaney advance his first death threat and 200 Buy-and-Holders endorse it.
Not this boy.
The most important contribution that the Buy-and-Holders ever made was their claim that investment advice should be rooted in peer-reviewed research. They were right the first time.
Wade Pfau Fan (The Honest Version!) Rob
Anonymous says
Those darn buy and holding goons are only concerned with making money on their portfolios instead of trying to help you get that $500 million payout. How dare they!
Rob says
If you had a calm confidence in your strategy, it would not upset you to hear people challenge it. Your behavior is strong evidence in support of Shiller’s core contention that stock investing is not a 100 percent rational endeavor but is instead a highly emotional endeavor.
Rob
Anonymous says
I have calm confidence that is back by the strong evidence of my historical returns that have resulted in a $5 million portfolio by the age of 56. Your responses indicate you are neither calm, nor confident.
Rob says
Okay, Anonymous.
I do wish you all good things, in any event.
Rob
Anonymous says
Is the book done? It’s almost the end of the year.
Rob says
It’s not done. It’s getting close. But it’s not done.
Rob
Anonymous says
Does that mean that the job search will now be delayed?
Rob says
Possibly but not necessarily.
It’s probably going to take several months to find a job. So I can start looking at the turn of the year and still be confident of finishing the book before I begin a corporate job.
However, if I am only a few weeks from finishing the book, it’s possible that I will hold back on the job search long enough to check that one off the list. I would feel a lot better knowing that I have that one in my pocket.
I expect to make a decision one way or the other by the end of the first full week in January.
Rob