Set forth below is the text of a comment that I recently posted to the discussion thread for another blog entry at this site:
You have said the same thing for the last 10 years, yet my portfolio has grown substantially. Just think if I was stupid enough to take your adVice. I would be broke like you.
How much of the growth was real and how much was irrational exuberance? Shiller’s huge contribution was to show that you need to make that calculation to know where you stand.
The only difference between us is that I believe in always taking irrational exuberance into consideration and you do not. That one difference affects every decision you make as a stock investor. If Shiller is right and you fail to take irrational exuberance into consideration, you cannot get anything about stock investing right. It’s a logical impossibility.
Fair enough?
Rob
Why should anyone believe you? You have admitted that you were hoping to have a business around your investment strategy. You have talked about future books, speaking tours, etc. In short, you are doing what you accuse others of doing. Add to that, you don’t have any good outcomes data and your predictions all failed. You keep telling us that you are going down this path to get $500 million. That’s a bigger scam than Madoff.
If anyone said that they had made some investing choice solely because I said to do it. I would say that that person is a moron. If something I say causes them to perform an investigation and as a result of that investigation, they come to a conclusion similar to one that I came to, then fine. That’s different and that would make sense and that would make me happy. But I am not asking anyone to believe me just because I say something.
I am saying that I have an obligation to post honestly. If I sincerely believe that the Greaney retirement study lacks a valuation adjustment, then I should say that. What you do with what I say is up to you. But I should say what I sincerely believe. That’s pretty basic. That should be non-controversial.
I of course do not want only my right to post honestly to be respected. I want that for everyone. When we are all posting honestly, we will all be learning more about this subject than we have ever learned before. The leverage here is just off the charts. I want to see us all reap the benefits that would follow from us all pulling together and demanding that every discussion board and blog on the internet permit honest posting by every community member.
That’s where I’m coming from. Anonymous.
My best wishes to you.
Rob
Your response does not address my comments. You have a profit motivation that you have admitted to.
I don’t understand what that has to do with anything.I am a journalist and I of course expect to be paid for my journalism work. Do you have some objection to that?
Rob