Set forth below is the text of a comment that I recently posted to the discussion thread for another blog entry at this site:
There are many websites that tell us how people became millionaires. Here is just one example:
https://esimoney.com/category/millionaires/
Further, there are books, like “The Millionaire Next Door” that also tell us about how people became millionaires.
Consistently, we see that these people are either into real estate, business owners and/or buy and hold investors. We never see a single VII investor. Why, then, would anyone follow your investment scheme.
There was a day when you could have said “not one person has ever become a millionaire by selling computers or smart phones” because those things didn’t exist. If at that time we gave the manufacturers of typewriters the power to destroy any company that tried to manufacture a computer, we would not have computers or cell phones today. We achieve huge advances as a society step by step. You cannot see the final amazing steps when the first tentative steps are achieved. You have no idea how much richer we all would be today if we had been permitting honest work to be done in the investment advice field going back to 1981 because you are too afraid to test the idea.
I say that we need to test the idea. I believe that Shiller’s Nobel-prize-winning research is legitimate research. After we have as a society made the transition from Buy-and-Hold to Valuation-Informed Indexing, I am willing to bet that there will not be one person who will vote for going back to the Buy-and-Hold years. That includes you Goons. I believe that you Goons will be glad that we finally elected to move forward after we have done so. We’ll see.
Rob
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