I’ve posted Entry #566 to my weekly Valuation-Informed Indexing column at the Value Walk site. It’s called Each Day’s Stock Market Action Reaffirms a Belief in Buy-and-Hold.
Juicy Excerpt: One reason why bull markets can remain in place for a long time is that the investors who contribute to them are regularly reassured that their thinking about how stock investing works is reaffirmed on a daily basis. It is only price crashes that cause concerns about the effects of overvaluation and those are of course rare events.
Rob,
When is the last time you actually had a conversation with someone in the investment community? It seems your only activity is generating posts here and on Valuewalk.
The other thing I do is to work on the book.
If it was up to me, I would be having discussions with people in the investment community on a daily basis. If it was up to me, there never would have been a single abusive post, much less any of the criminal stuff. That’s because there’s 40 years of peer-reviewed research showing that going pure Get Rich Quick/Buy-and-Hold is not the answer. If there were a case to be made that going pure Get Rich Quick/Buy-and-Hold is the answer, the Buy-and-Holders would welcome questioning of their strategy and would be happy to participate in civil and reasoned and research-based discussions.
What has happened is not a good sign for the future of Buy-and-Hold, in my assessment. The death threats and all the rest are desperation tactics. Those are things you turn to as a last resort. Those are things that the supporters of an idea turn to in the dying days of that idea.
Rob