“The Reason Why Shiller Was Awarded a Nobel Prize Is That He Made Us Aware of the Scam at the Core of the Stock Investing Project That Since the First Stock Market Was Formed Has Made Stocks a Far More Risky Asset Class Than It Needs to Be. Now We Are Free of 70 Percent of the Risk of Stock Investing — Intellectually. The Next Step Is to Become Free of 70 Percent of the Risk of Stock Investing in a Practical Real-World Sense.”

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

Can you give us examples of what you consider abusive posting on this website and what was specifically said that compelled you to block posts.

That is not why you are banned. You are banned as you hijack threads, don’t provide supporting data behind claims, you refuse to answer questions and you do not comply with what board owners ask of you.

To the opposite, you ban posts that are not abusive and address the subjects in the thread.

There is no consistency to your positions.

There are thousands of threads at this blog in which I interact with you Goons. If, in the days following the next price crash, there are millions of people trying to understand why most of their life savings vanished into the air, they can read through those threads and see if they can pick up the idea. I am 100 percent confident that any halfway reasonable person who takes even a brief look at those threads at a time when he or she is not longer suffering from irrational exuberance, he or she will get it.

There’s also a way to avoid even looking at the threads. Look at the retirement study posted at John Greany’s web site. See if you can identify the valuation adjustment in it. If you cannot find one, think how much abusive posting it would take to keep the cover-up going for 18 years. Now you get it. Now you know.

It’s a scam, Anonymous. It’s not a hidden scam. It’s a scam taking place in full public view. I don’t think that it started out as a scam. And I don’t think that the people working the scam are aware that it is a scam. But it’s a scam all the same. The damage that it will do to millions of investors is just as serious whether the people working the scam are aware that that is what it is or not.

The reason why Shiller was awarded a Nobel prize is that he made us aware of the scam at the core of the stock investing project that since the first stock market was formed has made stocks a far more risky asset class than it needs to be. Now we are free of 70 percent of the risk of stock investing — intellectually. The next step is to become free of 70 percent of the risk of stock investing in a practical real-world sense To achieve that, we need to open every discussion board and blog to honest posting re the last 39 years of peer-reviewed research in this field. I strongly urge that we take that amazing step forward by the close of business today (although what I have seen over the first 18 years of our discussions tells me that we are probably not going to pull it off until we all come together in the days following the next price crash).

I naturally wish you all the best that this life has to offer a person, in any event.

Rob