“If Everyone Who Believes That Shiller’s Nobel-Prize-Winning Research Is Legitimate Research Faced Up to the Problem Before Us, We Could Overcome It By the Close of Business Today. I Cannot Make Decisions for All the Others. But I Can Be a Model for Them. I Can Show Them How It Is Done and Invite Them to Join Me. So That Is What I Do.”

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 100 percent think of myself as a victim re these matters. The clarification that I make is that it is not only me. Arnott is a victim. Bill Bernstein is a victim. Wade Pfau is a victim. ”

No, you are the only one sitting around complaining and doing nothing. The others you mentioned are not. You can’t even get a job, let alone finish a book. There are whiners and then there are doer’s.

I DID something of great importance on the morning of May 13, 2002, when I pointed out the error in the retirement study posted at John Greany’s site. That post changed the nature of the discussions held at the Motley Fool board from that day forward. All of your criminal garbage stopped people from talking about the error. You consider that a victory. But the reality is that the change was permanent. A lot of people left the board and never returned after they saw the death threats and all the rest. And those who remained, like you Goons, have never again been able to feel the same about the board project. So that post changed things forever. That’s DOing.

Shiller did something important in 1981, and. going by the laws of the United States, his Nobel-prize-winning research should have changed the investment advice field forever. It didn’t turn out that way. The advance that he achieved was just too big for people’s minds to accept. So Buy-and-Hold has remained dominant for 39 years after it was discredited. But that’s not a situation that can remain in effect indefinitely. We cannot continue as a society if we do not find some means to overcome you Goons and provide millions of investors access to honest and accurate reports re what the peer-reviewed research teaches us all about how stock investing works in the real world. So we have to face up to the Goon problems and overcome it. There is no other way forward.

I am facing it. I am not ducking the question. If everyone who believes that Shiller’s Nobel-prize-winning research is legitimate research faced up to the problem before us, we could overcome it by the close of business today. I cannot make decisions for all the others. But I can be a model for them. I can show them how it is done and invite them to join me. So that is what I do.

I believe that lots of good and smart people will join me in the days following the next price crash and that it will be all downhill sledding from that point forward. We’ll see, you know?

Wish me luck!

Rob