I’ve posted Entry #551 to my weekly Valuation-Informed Indexing column at the Value Walk site. It’s called The Temptation to Overprice Stocks Is Ever-Present.
Juicy Excerpt: I find the idea that all stock gains are supported by economic realities implausible. All that stock investors need to do to push their portfolio value higher is to bid up the price of stocks. The money is there for the taking. Why would they not do this? The default belief should be that of course investors create phony gains through overvaluation.
You have spent the last 20+ years telling everyone else as to how you think you are right and everyone else is wrong and that the world needs to change. In the end, nothing will change for you.
You have spent the last 40 years living in denial as to what the peer-reviewed research tells us all about how stock investing works in the real world and insisting that as a society we must never, never, never acknowledge that we once made a mistake in thinking that market timing is not always 100 percent required. In the end, we will acknowledge as a society that Robert Shiller’s Nobel-prize-winning research is legitimate research.
We all should be doing everything in our power to see that every site on the internet is opened to honest posting so that we all can begin enjoying an amazing learning experience. That’s my sincere take, Anonymous.
Rob