“That’s the Distance That We Have Been Trying to Travel for 18 Years. We Have the Research Showing That a Valuation Adjustment Is Required. But We Don’t Want to Hurt the Feelings of the Buy-and-Holders By Asking Them to Correct Their Studies. So We Have Put Millions of Retirements at Risk.”

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 missed the part where Evidence said that you are right on the SWR issue and that John was wrong. I also missed the part where you have provided a fixed calculation. I missed the part where Wade Pfau also confirmed your work on SWRs. Perhaps you could provide links to all of this. Afterall, you said you believe in honest posting. So it is time to prove it.

Evidence didn’t say that Greaney is wrong. But he did acknowledge that Greaney’s study lacks a valuation adjustment. That’s as close as you can get to being honest about this stuff without actually getting there.

That’s the distance that we have been trying to travel for 18 years. We have the research showing that a valuation adjustment is required. But we don’t want to hurt the feelings of the Buy-and-Holders by asking them to correct their studies. So we have put millions of retirements at risk.

I believe that, once we see those retirements fail, we will work up the courage to take that final step. But we will have to wait a bit to find out for sure.

My best wishes to you.

Rob