“I Can’t Get Around the Fact That Greaney’s Retirement Study Lacks a Valuation Adjustment and Yet He Has Not Corrected It for 18 Years Now. And As a Society We Have Tolerated That! That’s the ‘Story’ That I Fit Everything To.”

Set forth below is the text of a comment that I recently posted to the discussion thread for another blog entry at this site:

You really don’t get it. It is like someone tells you that grass is green, but then you say it is really red and that there has been a conspiracy over the last century to block the new school of thought on the color of grass. You just make everything up to fit your story.

I can’t get around the fact that Greaney’s retirement study lacks a valuation adjustment and yet he has not corrected it for 18 years now. And as a society we have tolerated that!

That’s the “story” that I fit everything to. The fact that the Buy-and-Holders have known for 18 years now that there is a very serious error in a study that many people have used to plan their retirements and that they have not done anything about it tells me something about Buy-and-Hold. It does not tell me something good.

We all make mistakes. I consider the mistake a trivial thing. It’s the 18-year cover-up that is my concern. That one scares me. I cannot sign on to that one.

My best wishes.

Stone-Cold Frightened Rob