Set forth below is the text of a comment that I recently posted to the discussion thread for another blog entry at this site:
The nation won’t survive if Rob Bennett is not allowed to post what he wants on other people’s websites? Really?
Yes, really.
It’s not my name that is important. It’s knowing how stock investing works that is important. That’s very, very, very important. How the stock market works affects how the entire economic system works. So it’s important to get that one right. If we were all thinking clearly, we would all want to get it right. But we are in this situation where some academics came up with some ideas that millions bought into and only later did we learn that those ideas were in error. So we have very strong opposition to the idea of permitting the learning process that we would need to get to to develop a better understanding. We need as a society to overcome that opposition or we could suffer extremely serious consequences.
If you have watched the movie “The Grapes of Wrath,” you have an idea of what we might be looking at. The wonderful news is that, now that was have access to Shiller’s Nobel-prize-winning research, great depressions are optional. We now know what we need to know to avoid them. But knowing intellectually how to avoid them doesn’t do us any good if we don’t spread the word by opening the internet up to honest posting. It all comes down to that. We can have very good results in the future or we can have very bad results in the future, depending on how we handle that one.
My vote is that we open every site on the internet to honest posting re the last 40 years of peer-reviewed research.
My best wishes to you.
Rob
“If you have watched the movie “The Grapes of Wrath,” you have an idea of what we might be looking at. ”
If you have watched the movie “One Flew Over the Cuckoo’s Nest”, you have an idea as to what your future looks like.
Yeah, yeah.
Rob
By the way, Buy and Hold has no material impact on the market. The vast majority of stock is traded by institutions.
https://www.pionline.com/article/20170425/INTERACTIVE/170429926/80-of-equity-market-cap-held-by-institutions
Your last few decades have been a complete waste of time.
It does not make any difference whether the trades are made by individuals or by institutions. Both individuals and institutions want to obtain the best possible long-term return at the lowest possible risk. If the market is efficient, Buy-and-Hold is the ideal strategy for doing that. I valuations affect long-term returns, as Shiller showed is the case with his Nobel-prize-winning research, Buy-and-Hold is the most dangerous strategy imaginable and Valuation-Informed Indexing is the ideal strategy.
Rob