Set forth below is the text of a comment that I recently posted to the discussion thread for one of my columns at the Value Walk site:
All selective comments that lack full context. Tell us, Rob, how many of these people or on your website? What about others outside this list? Where are all these supporters of your ideas?
Here are 15 more:
16) “All Who Are Still Holding Equities at Present Levels Because Their Financial Adviser Insists That Timing Market Cycles Is Impossible to Do — Read This!” Juggling Dynamite Blog.
17) “The Fact that Aggressive and Short-Term Market Timing Was Unproductive Did Not Mean That There Were Never Times When It Would Be Wealth-Maximizing to Get Out of the Market.” Scott Burris, Director of the Center for Health Law, Policy and Practice.
18) “The Amount of Return You Can Expect From a Diversified Equity Portfolio Is Inversely Correlated to the Market Valuation at the Start of the Holding Period. It Is One of the Most Robust Statistical Relationships in Modern Finance.” Todd Tresidder, Financial Mentor Blog.
19) “Why Would Your Job Be Jeopardized By Such a Sensible Claim?” Marcelle Chauvet, Economics Professor at University of California.
20) “As Attorney. Tax Expert and Financial Writer Rob Bennett Told Us, the Problem Is That, By the Time Shiller Published His Research, Many Big Names Had Already Endorsed Buy-and-Hold.” ZeroHedge.com.
21) “This Seems to Me to Be a Fundamental Challenge to Some of the Most Basic Tenets of the Bogleheads Paradigm.” Bogleheads Forum Poster.
22) “I’ve Had Similar Experiences. I Know of Two Young Professors Who Wanted to Do Research on Fundamental Index and Reported to Me That Their Colleagues Advised Them That This Line of Research Could Derail Their Career Prospects.” Rob Arnott, Financial Analysts Journal Editor.
23) “This Sort of Intimidation Is Not Acceptable. The Cigarette and Pharmaceutical Industries Found Research Supporting Their Products By Funding It. But That Was Big Money Supporting Outcomes, Not Dissuading Others.” Lyn Graham, 25-Year CPA.
24) “Financial Economists Gave Little Warning to the Public About the Fragility of Their Models. There Is No Ethical Code for Professional Economic Scientists. There Should Be One.” Paper Titled The Financial Crisis and the Systemic Failure of Academic Economics.
25) “The Situation [Referring to the Intimidation Tactics Used to Silence Academic Researcher Wade Pfau’s Reporting of the Dangers of Buy-and-Hold Investing Strategies] Seems Well Below Any Professional and Academic Acceptable Standards.” Albert Sanchez Graells, Law Lecturer.
26) “This Is What Investing Should Be — Calculated, Deliberate, Confident, Informed and Simple.” Aaron Friday, Owner of Aaron’s Blob Blog.
27) “It Is Obvious That Rob, in Attempting to Identify New Safe Withdrawal Rate Strategies…Is Goring Your Ox. If Rob Improves on the Safe Withdrawal Rate Methodology, the Implication Is Clear: You Are All, Metaphorically Out of Business.” Bogleheads Forum Poster.
28) “Returns Are for the Most Part a Matter of Simple Arithmetic …. Much of Our Industry Seems Fearful of Basic Arithmetic of This Sort.” Rob Arnott, Financial Analysts Journal Editor.
29) “The Notion That Rich Valuations Will Not Be Followed by Sub-Par Long-Term Returns Is a Speculative Idea That Runs Counter to All Historical Evidence. It Is an Iron Law of Finance That Valuations Drive Long-Term Returns.” John Hussman.
30) “If the Response Is ‘Who Knew?”, It Won’t Be Much Comfort for Retirees in the Employment Line at Wal-Mart. This Is Especially True Since a Rational Understanding of History and the Drivers of Longer-Term Stock Returns Can Help Retirees to Avoid That Surprise.” Ed Easterling, Author of Unexpected Returns.
Rob
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