“It Is Common Practice for People to Post Honestly in Every Field of Human Endeavor Other Than the Investment Advice Field.”

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

“It will be interesting to see how it all plays out, Anonymous.”

We already know how things will play out. It will be just like the last 2 decades. You will continue to make up the same delusional comments, you won’t earn a dime and you will blame others for your own failures.

It’s not as if I have any good options, Anonymous. I held back from posting about the error in the Greaney retirement study for three years (from May 1999 through May 2002).I did not feel good about myself when I did that. I had become friends with many of my fellow community members (including Greaney) and I felt that I owed them my honest take, which is that the Greaney study lacks a valuation adjustment. I don’t ever want to go back to living like that.

It is common practice for people to post honestly in every field of human endeavor other than the investment advice field. I believe that it would be a huge plus if it became common practice in the investment advice field as well. The idea of committing financial fraud (I obviously would be committing financial fraud if I said that I believe that the Greaney study contains a valuations adjustment after saying on tens of thousands of occasions that I do not believe that). So I think that the best thing for me to do is to just continue posting honestly and see how things play out in the days following the next price crash, when I believe that the appeal of the pure Get Rich Quick/Buy-and-Hold approach will be much less.

I wish you well. I like to think that that might help a tiny bit.

Rob